Airtel Payments Bank has partnered with Bharti Axa General Insurance to offer shop insurance exclusively for its retailers and merchants customer base.

The package policy provides financial protection in case of damage to assets inside the shop due to fire, allied perils and burglary. The flexible sum insured starts from Rs 200,000 up to a maximum of Rs 2.5 million.

Commenting on the development, Ganesh Ananthanarayanan, chief operating officer (CEO), Airtel Payments Bank, said, “Our partners are key enablers for our business and protecting them is of the utmost importance for Airtel Payments Bank. Shops of our business partners are the primary source of their income. Any damage to assets inside the shop due to an accident or natural calamity can lead to a major financial setback in their lives. With the launch of this affordable and comprehensive shop insurance product, we aim to offer financial protection against such losses to our business partners.”

Further, Sanjeev Srinivasan, CEO and managing director (MD), Bharti AXA General Insurance, said, “We recognise the retailers and shopkeepers of our country as the wheels that steer the nation’s cumulative success forward. We are very happy on this association with Airtel Payments Bank to secure its retailers and merchants with our Smart Plan Shop Package Policy. Amidst the pandemic, Indian retailers have already had to face many hardships and uncertainties. To avoid further problems of a different kind in future, it is vital to secure one’s assets inside the shop to stay alleviated from the dangers that they can be exposed to. We shall always be committed to securing the interests of many such retailers, who are unwaveringly committed to serving the nation.”