Airtel, HDFC Life Insurance to offer free cover for prepaid customers
The tie-up is expected to improve insurance penetration in the country, given Airtel’s large consumer base.India has less than 4 per cent life insurance penetration, as on January 31.
Telecom penetration — or the number of telephones per 100 people — is estimated at 91.82 per cent.
“Airtel’s latest innovation offers the twin benefit of a life insurance cover along with calling and data allowance at less than ₹9 per day,” the release said.
The partnership leverages digital platforms and Airtel’s distribution reach, allowing people to get a life cover every time they recharge their phone, it added.