Airtel Payments Bank has launched a comprehensive car insurance policy in association with Bharti AXA General Insurance.

The Smart Drive Private Car Insurance offers financial protection against damage to the vehicle due to accident, theft, and natural and man-made disasters. It also provides compensation in case of injury or damages to another person or property caused due to a car accident.

The insurance comes with a personal accident cover for the policyholder. In the event of an accident leading to permanent disablement or loss of life, this ensures financial protection for the family.

Airtel Payments Bank’s customers can easily purchase this policy within five minutes using a paperless, secure, and quick process through the Airtel Thanks mobile app. The company says no pre-inspection is required and the customer only needs to fill in the details about the vehicle, and the insurance is immediately issued on their registered email id and mobile number.

At the time of the renewal, customers can choose from a wide range of add-on covers, which includes depreciation cover, small consumable items, loss or replacement of car key, roadside assistance in the event of car breakdown, damage of engine or gearbox, medical expenses if the policyholder is injured, ambulance expense to reach the hospital, and many more.

Ganesh Ananthanarayanan, COO, Airtel Payments Bank said, “We endeavour to offer a bouquet of well-designed products to serve varied insurance requirements of our customers. Motor insurance being mandatory in the country constitutes an important requirement for millions of car users. We are delighted to partner with Bharti AXA General Insurance to offer this comprehensive car insurance.”

Sanjeev Srinivasan, CEO and MD, Bharti AXA General Insurance said, "We always look for creating eco-systems that help us improve reach of our insurance solutions. As part of our partnership with Airtel Payments Bank and strong synergies of customer-centricity, we are offering innovative motor insurance products to its customers through a seamless journey from the purchase to the claim process. The strategic alliance will also help us reach out to the growing customer base of the bank and secure them.''