SafeHouse Tech, a cyber security solutions company, launched a cyber insurance policy that offers a cover of Rs. 25,000 on digital transactions carried out on mobile phones.
“We have tied up with HDFC ERGO to launch this instrument. We are charging Rs. 999 for BodyGuard VIP Plus, a cyber security subscription that comes with the insurance cover. It covers financial losses up to Rs. 25,000 against any unauthorised digital transactions,” Aditya Narang, Co-Founder and Chief Business Officer of SafeHouse Tech, told.
The insurance policy covers all kinds of UPI frauds, phishing, spoofing, and any other financial loss due to unauthorised access to a user’s funds. It also covers all bank accounts, credit, debit cards, and payment wallets, the company claimed.
“Upon filling basic user details, the subscribers will receive the policy document on the app which is also sent via SMS or email,” he said.