Airtel Join Hands With HDFC Life To Build A Financially Secure India, Make Insurance Affordable And Accessible For All - GADGETS & INNOVATIONS


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Monday, May 13, 2019

Airtel Join Hands With HDFC Life To Build A Financially Secure India, Make Insurance Affordable And Accessible For All

Launches India’s First Prepaid bundle @ Rs 249 with unlimited calling, 2GB per day and built-in LIFE INSURANCE COVER of Rs 4 lakhs  

· India has less than 4% penetration for life insurance while as on January 31, 2019, overall telecom penetration in India, i.e., the number of telephones per 100 people was 91.82% (Source: TRAI). Airtel’s latest innovation offers twin benefit of a life insurance cover along with calling and data allowance at less than Rs 9 per day

· Seamless and hassle free process – no paperwork, no medical test. Policy gets issued and renewed every time a customer makes a recharge

· Airtel’s pan-India distribution reach will enable millions of uninsured and underinsured Indians become financially secure and improve adoption, penetration of insurance products in the country

Bharti Airtel (“Airtel”), one of the world’s leading integrated providers of telecommunication services, and HDFC Life Insurance, India’s largest non-bank promoted private life insurer have joined hands to leverage technology and the deep penetration of mobile services to build a financially secure India.

Airtel has launched a prepaid bundle that will come with in-built life insurance cover (term plan) from HDFC Life Insurance. Airtel’s new Rs 249 prepaid bundle will come with Rs 4 lakhs life cover from HDFC Life along with 2GB data, Unlimited Calls to any network and 100 SMS/day. The recharge is valid for 28 days and policy cover till recharge is active. 

A customer needs to enrol for the insurance after first recharge through SMS, My Airtel App or Retailer. The insurance renews automatically for subsequent recharges.

As per the IRDAI, the insurance penetration in India is less than 4% (of the population) while smart phones will account for 38% of all networked devices by 2022, i.e., 829 million, compared to 26% in 2017, i.e., 404.1 million (Source: Cisco VNI).The Airtel – HDFC Life partnership leverages their respective digital platforms and Airtel’s distribution reach, including a phygital experience in rural pockets, to make it very simple for millions of uninsured and underinsured Indians with a mobile phone to get a life cover every time they recharge their mobile phones.

The policy, which is available to all customer aged 18-54 years, requires no paperwork or medical examination(the customer is only required to give a declaration of good health) and the policy or CoI will be instantaneously delivered digitally. A physical copy of the insurance can be provided on request. Airtel’s innovative prepaid bundle gives convenience to mobile customers with significant amount of data and a sizeable insurance protection at under Rs 9 per day.

The entire process is digitally delivered in a matter of few minutes at any Airtel retail store or on My Airtel app. Airtel has over 1.1 million retail outlets, and as of December 31, 2018, its mobile services covered 786,134non-census towns and villages and its network covered 95.3% of India’s population.

Airtel’s new Rs 249 prepaid bundle is available to customers across India. As of December 31, 2018, Airtel’s mobile services customer base in India was approximately 284 million.

New Delhi, May 13, 2019

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