Telecom major, Telenor (UP East) announced to have covered 4.16 million customers under its insurance scheme called Telenor Suraksha since its launch in October 2015.
It said the initiative to extend financial security to the masses is unique given less than 4% of the population in country has insurance cover. The company said that in January 2016 nearly 2 million customers were insured.
It said that lack of awareness, cumbersome enrolment process, cost of insurance and lack of trust.have been major barriers in insurance adoption among people.
KC Narendran, Circle Business Head – UP East, Telenor India said, “The free life insurance scheme is an initiative to ensure that the family of any of our users do not suffer in the case of his or her death.
By combining mobile technology with financial inclusion agenda of the government, we have extended the benefits of being connected. The scheme rewards our customers with more value for their confidence in Telenor services.”
Telenor’s free life insurance is a mobile only scheme that promises value on every transaction done. It claims to make it easy for the customers to enroll and avail the benefits of insurance.
Telenor users can avail this service by calling customer service centres or dial the self-help menu *121# or opt-in for it by approaching any of the nearest retail outlets.
For customers availing this offer, there is no separate documentation required, said the company. “There are no complicated application processes or forms and the unique underwriting means that there are no exclusions; everyone who enrolls is covered”, it added.
Telenor is working with Shriram Life Insurance and MicroEnsure for its insurance offer. At each customer touch point, trained staff is available to educate the customers and address their queries.
In the unfortunate incident of the death of a customer, the claim is processed by submitting relevant documents like the death certificate, nominee ID proof and the SIM card.
Currently, Telenor serves 11.6 million customers in UP East circle through more than 1 lakh points of sale and nearly 36% of its subscribers have availed the insurance cover.