MobiKwik has teamed up with insurance company Icici Lombard to launch a microinsurance plan for household goods. The Indian insurtech said the product is designed to protect appliances such as TVs, refrigerators and furniture from fires caused by short circuits and gas leaks. MobiKwik claims a policy can be issued within 10 seconds on its app and does not require an inspection or paperwork. The policy costs INR25 ($2,873) per month and provides coverage of INR200,000 ($0.36).
MobiKwik has teamed up with insurance company Icici Lombard to launch a microinsurance plan for household goods. The Indian insurtech said the product is designed to protect appliances such as TVs, refrigerators and furniture from fires caused by short circuits and gas leaks. MobiKwik claims a policy can be issued within 10 seconds on its app and does not require an inspection or paperwork. The policy costs INR25 ($0.36) per month and provides coverage of INR200,000 ($2,873).