Flipkart to begin insuring smartphones from Big Billion Days

The neck to neck battle amongst e-commerce marketplace players is going to become more fierce in their upcoming flagship sale. As Amazon, Flipkart, and Paytm Mall are aiming to lure more customers through discounts, smartphone sales definitely will have the largest share.

Flipkart, which is targeting overall 50 per cent of all smartphone sales through its platform during the festive season, has added insurance feature for mobile phones.

While rival Amazon and Paytm are exploring life and general insurance via third-party insurance providers, the Walmart-owned company has picked up mobile insurance to compliment its largest volume churner - smartphone.

Flipkart has tied up with Bajaj Allianz General Insurance to offer customised insurance solutions for all leading mobile phone brands and the offering will kick start with the company's flagship sale--the Big Billion Days starting on 10th October.

Starting with Rs 99 only, the insurance plan will cover accidental, screen, liquid damage, and theft of the insured mobile phones that will be valid for a year.

Customers can claim via the Flipkart's app, email, or phone call and in case of a cash payout, the amount will be deposited in their Flipkart-registered bank account or any other account owned by the customer.

Flipkart foray in insurance plans finally comes after a year of speculation, and the company has chosen largest selling category - smartphones to mark its entry into the segment. The company had recently rolled out cardless credit option for up to Rs 60,000 loan for its customers. The move comes soon after Amazon offered the similar option.

Given that festive season is around, smartphones sale would see maximum interest. Going forward, it would be interesting to gauge the appetite of buyers in insuring hand held devices.