Private sector non-life insurance company ICICI Lombard and Mobikwik here on Monday announced a strategic partnership to provide cyber-insurance cover.
The relationship aims to provide protection against unauthorised and fraudulent transactions online, across bank accounts, debit/credit cards and mobile wallets.
“Digital financial services platform MobiKwik users can avail the commercial cyber Insurance policy underwritten by ICICI Lombard and enjoy the benefit of a stress-free and secured transaction,” said MobiKwik Co-founder and Director Upasana Taku.
The cyber-insurance can be availed at only Rs. 99/ month and with a sum insured of Rs.50,000.
Digital wallets aka e-wallets or mobile wallets, are in vogue currently given a growing population is going ‘cashless’. With the adoption of cashless transactions on the rise, it is but natural that the cyber threat landscape also magnifies. There are millions of transactions that take place every month on the MobiKwik wallet.
ICICI Lombard Executive Director Sanjeev Mantri said, “With the introduction of mobile wallets, transactions have become far more effective and convenient. But, these online transactions expose users to a new class of risks. Cyber-insurance thereby becomes imperative to provide customers protection against any kind of data security breach.”
ICICI Lombard partners with Mobikwik to provide cyber-insurance cover
