In a truly unique initiative and and a step towards adding real value to customer service, Telenor India, the erstwhile Uninor, today announced to offer life insurance to all of its customers. Telecom service provider Telenor India has announced that it is offering life insurance for free to all its active customers.
For this programme, the wholly owned subsidiary of Telenor Group of Norway has joined hands with Shriram Life Insurance and Micro Ensure, the UK-based firm engaged in developing and distributing insurance products for the mass market.
Launched by Insurance Regulatory and Development Authority of India (IRDAI) chairman T.S. Vijayan here, Telenor senior executives led by CEO Vivek Sood said the life cover is for all the existing 48 million subscribers as well as new customers across all the six telecom circles in which the company operates. Telenor offers only pre-paid services.
The telco will offer an insurance cover of 100 times of the recharge value of the prepaid voucher. Means, being solely a prepaid service provider, the insurance cover has been linked to the amount a customer recharges his phone everytime. However, the maximum insurance cover one can avail is Rs 50,000.
“Customers can avail this service by calling customer call center or dial the self-help menu *121# or opt-in for it by approaching any of the 2100 Telenor India stores. For every recharge done by the customer, a 100X insurance cover will be provided to him. For customers availing this offer, there is no separate documentation required,” the company said.
“This is an innovative product that will bridge the disparity in access to life insurance among the low and middle-income individuals. With insurance penetration being very low in the country, our scheme has the potential to empower society through financial security,” Telenor India CEO Vivek Sood said.