Truecaller, the global communications giant, has partnered with HDFC ERGO, India’s premier general insurance company, to launch Fraud Insurance. This initiative aims to bolster protection against digital communication frauds for consumers across India.
A recent report by the Indian Cyber Crime Coordination Centre highlighted the alarming statistic of INR 1.25 lakh crore lost to digital financial frauds over the past three years. Responding to the rising tide of cyber fraud, Truecaller’s new insurance product offers coverage up to INR 10,000 for Android and iOS users. Available to yearly premium subscribers at no additional cost, the insurance seamlessly integrates into the Truecaller app, activated instantly upon opting in. Rishit Jhunjhunwala, Chief Product Officer and MD of Truecaller India, emphasized the company’s dedication to user security, stating, “With the launch of Fraud Insurance, we’re reinforcing our commitment to safeguarding our community against digital fraud, empowering users with peace of mind in today’s complex digital landscape.”
Vishal Sikand, Joint President of HDFC ERGO, echoed this sentiment, noting the surge in digital mobile payments during the pandemic and the corresponding rise in fraud. “Our partnership with Truecaller leverages cutting-edge technology to offer customer-centric innovations, promoting financial inclusion and protection from digital fraud.”The Guwahati market, with its vibrant digital commerce scene, stands to benefit significantly from this initiative. As a bustling hub for online transactions, the added layer of security from Truecaller’s Fraud Insurance provides merchants and consumers alike with enhanced confidence in their digital interactions.
