India's latest entrant to financial services realme PaySa on Thursday announced a strategic relationship with ICICI Lombard to enroll realme phone users under the all-risk insurance policy.
realme PaySa was launched in December 2019 as a full-stack financial services platform. Through this relationship, it will provide screen protection for realme phones.
Insurance is available for phones up to 18 months old in less than five minutes and for screen breakage once or twice a year. The premiums vary depending on phone model and age of the phone, but general premiums start as low Rs 250.
The policy administered as a group policy can be taken from the realme PaySa mobile app pure digitally and does not require any documentation.
"realme PaySa provides us the perfect platform to offer disruptive, affordable and pure digital insurance products to major Indian cities but more importantly in tier two, three and four cities where historically reach, education and servicing have been major roadblocks," said Sanjeev Mantri, Executive Director of ICICI Lombard General Insurance Company.
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