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Flipkart to insure mobiles bought on its e-platform (Lead)
Bengaluru, Oct 7 (IANS) Leading e-tailer Flipkart on Sunday said it had tied up with Bajaj Allianz General Insurance to offer insurance to products like mobiles bought on its online shopping platform from October 10.
“We will offer customised insurance solutions to power our complete mobile protection programme for all leading mobile brands sold on our platform with Bajaj Allianz,” said the city-based company in a statement here.
The decade-old company, in which world retail giant Walmart acquired majority stake in May, secured a corporate agent license from Bajaj Allianz to provide insurance to its customers.
Walmart completed acquisition of 77 per cent equity stake in Flipkart for $16 billion on August 18.
Touted to be the first, the insurance will be in cash payout option or free pick-up, service and drop convenience to customers.
“The insurance will be available from October 10, coinciding with our ‘The Big Billion Days’ festival offer to serve customers who shop during the event,” said the statement.
Global market intelligence firm IDC estimated that the smartphone market in India would continue to grow in double digit in 2018, with Flipkart’s share of online phone sales at 65 per cent.
“Insurance is our logical next move in providing consumers with after-sales care for their phones. The plan, from purchase to claim, will be integrated into our online platform,” said Flipkart Senior Vice-President Ravi Garikipati in the statement.
Consumer data insights and tech will enable insurance partners to underwrite better and help in improving operating efficiencies for new-age products.
According to a study, 36 per cent of mobile phone users across the country own smartphones. The worry for customers is damaging their screens or having their phone stolen.
“Other than the warranties offered by manufacturers, there are no micro-insurance offerings for customers,” asserted the statement.
Bajaj Allianz Chief Executive Tapan Singhel said partnership with Flipkart to give complete protection plan would add value to the e-tailer’s customers.A
“Customers will be able to purchase the insurance when buying the mobile phone at a nominal price starting from Rs 99. The policy will activate from the day of delivery,” added the statement.
The insurance plan, valid for a year, covers accidental, screen, liquid damage and theft.
For claims, a customer will have a choice to return the phone for fixing or opting for a cash payout that will be deposited in his/her bank account.
As the country’s largest e-commerce player, the 11-year-old Flipkart group includes Myntra, Jabon and PhonePe. It offers 80 million products in 80 categories.
In fiscal 2017-18, Flipkart recorded Gross Merchandise Value (GMV) of $7.5 billion and net sales of $4.6 billion, representing 50 per cent year-on-year growth.
With over one-lakh sellers, Flipkart offers about 80 million products across 80 categories, including smartphones, books, media, consumer electronics, furniture, fashion and lifestyle.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.