Telecom operator Telenor India said its move to offer micro-life insurance to its price-conscious customers in six circles was getting “a tremendous response”.
As many as 20 million people have till date enrolled for ‘Telenor Suraksha’ which comes at no cost to customers, Upanga Dutta, Chief Marketing Officer, Telenor India, told BusinessLine here.
Of this, eight million people are insured, Dutta said, adding that a majority of the enrolments were done by customers themselves using their smartphones.
The validity of this micro-insurance is for a month. Its total customer base in the six circles –Uttar Pradesh (east), Uttar Pradesh (west), Bihar (including Jharkhand), Maharashtra (excluding Mumbai), Gujarat and Andhra Pradesh — stood at 5.1 crore.
Launched a few months ago, ‘Telenor Suraksha’ provides free insurance cover equivalent to the 100 times of their monthly recharge value. The minimum cover is ₹5,000 that can reach up to a maximum cover of ₹50,000.
“For us, the benefit of this initiative is increasing customer stickiness while providing value added offering to our customers. By this offering, we are reducing the churn (reduce customers’ moving away from Telenor network),” Dutta said. Shriram Life Insurance along with MicroEnsure has teamed up with the Telenor India to provide this free life insurance coverage to the existing and potential customers of Telenor.