News: Nokia and New India Assurance launch a handset insurance plan

Nokia India on 12th March 2013 announced an first of its kind partnership with New India Assurance ( NIA ) to provide an insurance plan for Nokia handsets. This partnership with a leading global insurance group by the Govt. of India will provide Nokia’s consumers the benefits of a highly affordable and comprehensive handset insurance plan to safeguard them against risks of mobile handsetloss and damage.

The plan covers Nokia devices against

• Third party threatening to use violence resulting in damage or theft of device
  Accidental damage to the exterior/interior components.
• Damage caused by external impact on the device due to dropping and/or other deliberate action by third party.
• Damage caused by accidental entry of fluid in the device’s internal circuitry

Theft & Burglary

• Loss of device through housebreaking
• Loss of device riots, strikes and other malicious acts
• Theft of device from locked or unattended building, room or vehicle

Starting from a minimum insurance premium of just Rs. 50/- the plan will cost 1.25% of the purchased handset’s value. The plan will be available March 14, 2013 onwards on all Nokia devices purchased through Nokia Branded Retail stores across the country, initially in Delhi and the National Capital Region, Jaipur, Mumbai, Ahmedabad, Pune, Kolkata, Chennai, Hyderabad, Bengaluru and Cochin.

For more details view the press release below.

Press Release
New Delhi, 12th March, 2013: Nokia India today announced a unique partnership with New India Assurance (NIA), a leading global insurance group, wholly owned by the Govt. of India. The partnership will provide Nokia’s consumers the benefits of a highly affordable and comprehensive handset insurance plan to safeguard them against risks of mobile handsetloss and damage. This includes thefts, burglary, malicious acts, riots among others, as well as damage that is beyond the purview of the consumer’s standard warranty.

Starting from a minimum insurance premium of just Rs. 50/- the plan will cost 1.25% of the purchased handset’s value. To avail of this insurance plan, consumers purchasing their handsets from a Nokia Branded Retail Store have to provide a few personal details and receive their insurance certificate, handout and payment receipt at the store itself.

The plan will be available March 14, 2013 onwards on all Nokia devices purchased through Nokia Branded Retail stores across the country, initially in Delhi and the National Capital Region, Jaipur, Mumbai, Ahmedabad, Pune, Kolkata, Chennai, Hyderabad, Bengaluru and Cochin.

Announcing the initiative, Mr. Segar Sampathkumar, General Manager, New India Assurance, said, “We are extremely pleased to partner a leading handset manufacturer such as Nokia to offer their consumers an exclusive insurance plan that not only protects their consumers against unforeseen events such as theft and loss, but also against device damage. Based on our deep understanding of the segment, we are looking to provide Nokia consumers with a seamless solution that is as easy to claim, as it is to buy.”

According to Mr. Kannan Gopalakrishnan, Director Retail, Nokia India, “Nokia has always believed in delivering continued value to consumers and supporting them beyond the moment of purchase. The mobile phones has today emerging as the consumers most preferred personal device and users are consistently increasing their investment in new technology. As India moves from being a volume to a value market, consumers are willing to pay more for their mobile phones. The NIA insurance plan is aimed at safeguarding Nokia consumers against the angst caused by loss, theft or damage of their devices, while offering them an affordable and effective solution to protect their investments. We believe with the changing consumer landscape and the growing penetration of smartphones in India, this plan is sure to see strong uptake amongst our consumers.”

In order to enhance the consumer experience further, New India Assurance and Nokia have mutually agreed and tied up with an IRDA Licensed “Insurance Broker”, which is facilitating and administering the plan by way of providing Value Added Services exclusively to Nokia consumers. Consumers can avail of these services at an additional fee of Rs. 50/- per device irrespective of the device cost. In order to report claims with New India Assurance Company Limited, customers have to contact the call centre managed by the “Insurance Broker”.

The value added services include

• Free pickup and drop services in six cities, viz., Delhi & NCR, Mumbai, Bangalore, Hyderabad Chennai and Kolkata. This includes free pick up (within 24 hours of a call being registered) and drop of the device in case of damage, or of documents in case of loss or theft. In case of thefts, consumers will need to file a written report with police authorities and report the loss of SIM to the concerned network service provider and acknowledgement to be furnished.

• Cashless service. Cashless service will allow claimants to submit their devices at the nearest authorised service centre and have their claims processed. If the damage is within purview of Insurance, the device will be repaired and be delivered back to the consumer at his door step.

• Standby devices and chargers: In the interim period, consumers will also be provided with standby handsets and chargers.