ICICI Lombard partners with Flipkart to offer 'Hospicash' benefit

E-commerce company 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 is a benefit offering that 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 said.

"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.