Flipkart has partnered with ICICI Lombard to offer ‘Group SafeGuard’ insurance, a group insurance policy to its consumers.
Compared to the standard indemnity health insurance policies, Group SafeGuard’s ‘Hopicash’ benefit offering allows consumers to avail a payout for each day of hospitalisation, a joint statement said on Wednesday.
The fixed daily amount enables consumers to pay for incidental medical or emergency expenses, it added.
“The insurance is affordably priced, paperless, and flexible, covering both accidental hospitalisations or planned surgeries/treatment,” the statement said.
With daily cash benefits starting from Rs 500, ‘Hospicash’ benefit under Group SafeGuard insurance will provide cover to Flipkart consumers, it was stated.
Earlier in April 2020, ICICI Lombard, Go Digit General Insurance and Flipkart had joined hands to offer health policies related to COVID-19.
The covers include easy claim, hospitalisation cover, room or intensive care unit (ICU) rent, ambulance assistance, and teleconsultation. Besides, there will be a digital claim process and no requirement of medical tests at the time of purchasing a policy.
The two health insurance policies will enable health cover for consumers combating the global pandemic, the companies said in a joint statement.
Industry estimates suggest that about 56 percent of the Indian population is not covered under any health insurance policy. Understanding this need of the hour, Flipkart’s partnership with ICICI Lombard and Go Digit General Insurance will offer users health insurance policies that give a range of benefits.
In another development, BharatPe has also joined hands with ICICI Lombard to roll out ‘COVID-19 Protection Insurance Cover’ for shopkeepers across the age group of 18-65 years.
The health cover is priced at a premium, starting at an amount of Rs 199, and provides a sum insured for Rs 25,000 and value-added benefits such as health assistance and CHAT/virtual assistance, teleconsultation, and ambulance assistance.
(Disclaimer: Additional background information has been added to this PTI copy for context)