Nokia to offer mobile insurance cover
Nokia India, the Indian arm of Finnish handset maker Nokia, has teamed up government-owned New India Assurance to offer customers insurance cover against any loss or damage of their handsets.
The company announced that customers purchasing Nokia devices from Nokia-branded retail stores would be offered insurance cover at 1.25 per cent of the price of the phone.
The minimum premium for the insurance cover plan has been fixed at Rs 50, and the plan will take effect from Thursday.
Kannan Gopalakrishnan, director for retail sales at Nokia India, said that the company expected that the insurance plan could sway consumer-buying patterns.
Speaking on the topic, Gopalakrishnan said, "In the long term, we expect to have a stronger engagement with the consumer post purchase of the product."
Nokia's insurance plan provides cover against burglary, theft, accidental damage, such as damage caused by accidental entry of fluid in the device's internal circuitry.
The Indian handset market is currently worth at more than Rs 30,000 crore, but none of the players currently offer an insurance cover.
Micromax also said that it was also looking at offering an assurance plan that would also include insurance cover. Nokia's rivals Samsung and BlackBerry refused to comment on whether they have any plans to offer insurance covers.