FlipKart to offer cyber insurance to its clients through new partnership with Bajaj Allianz

India’s e-commerce giant FlipKart will offer its clients cyber insurance policies, which will be underwritten by Bajaj Allianz through a new deal.

The policy available protects businesses from financial losses caused by cyberattacks, online fraud or other digital criminal activities, according to a report from Coverager.

Businesses that sell products through the FlipKart platform can purchase the insurance to stop them being defrauded. Yearly premiums start from INR 183 ($2.50).

Flipkart head of FinTech and payments Ranjith Boyanapalli told Coverager, “As the festive season nears, we want to ensure that the customers’ online shopping experience, across any digital medium, is devoid of stress and apprehensions.”

Earlier in the year, FlipKart’s co-founder Sachin Bansal led the $394.2m funding round of Navi Technologies. Navi is building consumer-centric and technology-driven businesses in the banking, financial services and insurance space.

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