ICICI Lombard partners MobiKwik to offer cyber-insurance cover of Rs 50,000

ICICI Lombard and Mobikwik Monday announced a partnership to offer cyber-insurance cover of Rs 50,000 crore to protect against online frauds.

General insurer ICICI Lombard and digital financial services platform Mobikwik said the partnership aims to provide protection against unauthorised and fraudulent transactions online, across bank accounts, debit/credit cards and mobile wallets.

The cyber-insurance can be availed digitally through an app at only Rs 99 per month and with a sum insured of Rs 50,000, said a release.

MobiKwik users can avail the 'Commercial Cyber Insurance' policy underwritten by ICICI Lombard and enjoy the benefit of a stress-free and secured transaction for its users who opt for this cover, it added.

"This relationship with MobiKwik further strengthens ICICI Lombard's endeavour to provide innovative and unique products against the new-age risks and cater to the needs of the customers of our business associates," Sanjeev Mantri, Executive Director, ICICI Lombard said.

MobiKwik users can enrol under this insurance product at the time of loading money into their wallet or in a standalone format. Also, the claims can be lodged digitally.