MobiKwik users can avail the commercial cyber-insurance policy underwritten by ICICI Lombard and enjoy the benefit of stress-free and secured transactions. It can be availed at Rs 99 per month and with a sum insured of Rs 50,000.
Online transactions expose users to a new class of risks, said Sanjeev Mantri, Executive Director of ICICI Lombard. Cyber-insurance thereby becomes imperative to provide customers protection against any kind of data security breach.
Upasana Taku, Co-founder and Director of MobiKwik, said: We are the first mobile wallet company to avail cyber-insurance for its customers. This product was the need of the hour in today's digital era wherein a number of individuals prefer doing their financial transactions online.