• Truecaller partners with HDFC ERGO to offer Fraud Insurance.
• Coverage up to 10,000 rupees for digital fraud victims.
• Available for Android and iPhone users across India.
• Included in Truecaller’s yearly premium service at no extra cost.

Truecaller’s just rolled out a new trick to keep your wallet safe from online tricksters.

They’ve teamed up with HDFC ERGO to offer something called ‘Fraud Insurance’.

It’s their latest move to tackle the growing problem of digital scams in India.

This new insurance covers you for up to 10,000 rupees if you fall victim to a digital fraud.

It’s available to both Android and iPhone users across India. 

If you’re already paying for Truecaller’s yearly premium service, you’re in luck – it’s included in your existing package. 

Even better, regular Truecaller users can get this protection without paying a penny extra.

No Paperwork Hassle

The best bit? You can set up this coverage right in the Truecaller app. No need to faff about with loads of forms or paperwork.

This isn’t Truecaller’s only weapon against scammers. The insurance comes on top of their existing security features.

You’ve got their AI-powered spam blocker, a clever AI assistant, and a call scanner to help spot dodgy callers.

The insurance is there as a safety net if a scam somehow slips through these defences.

Registration Process

If you’re keen to get this Fraud Insurance, it’s dead simple. Here’s what you do:

• Fire up your Truecaller app

• Head over to the Premium Tab

• If you’re not already on the Yearly Premium Plan, you’ll need to sign up for that

• Look for the Fraud Insurance option and follow the steps to get yourself covered

Who Can Get It?

Now, before you rush off to sign up, here’s who’s eligible:

• You need to be 18 or older

• Indian residents are good to go

• If you’re a foreigner with an Indian phone number, you’re in too

• Even if you’re an Indian resident on a short trip abroad, you can still get covered

A Few Things to Keep in Mind

• Your insurance is tied to your Truecaller subscription. So when your subscription renews, so does your insurance. No need to faff about with separate renewals.

• If you’ve got questions about your insurance, Truecaller’s got you covered. There’s a self-help portal from their insurance partner you can access right from the Premium screen in the app.

• The insurance specifically covers digital theft of funds, which falls under HDFC ERGO’s cyber sachet insurance.

Why It Matters

Digital fraud’s becoming a real headache in India. The Indian Cyber Crime Coordination Centre reckons it’s cost the country a whopping 1.25 lakh crore rupees over the last three years. That’s a lot of zeros.

Rishit Jhunjhunwala, Truecaller’s Chief Produc11:35:42t Officer and MD, India, expressed stated,  “We are thrilled to introduce this innovative insurance offering. It underscores our unwavering commitment to providing comprehensive solutions that prioritize user security and trust. Fraud Insurance isn’t just a feature; it’s a reinforcement of our dedication to protecting our community from the ever-evolving threats of digital fraud. We empower users with the peace of mind they deserve in today’s complex digital landscape.”

HDFC ERGO’s on board too. Vishal Sikand from their commercial team points out, “The pandemic fueled the growth of digital mobile payments in India. While convenient, it also opened the door for increased digital fraud. Partnering with Truecaller aligns perfectly with our commitment to leveraging technology for customer-centric innovations. Our comprehensive insurance, combined with Truecaller’s massive user base, will significantly contribute to financial inclusion and protection against digital communication fraud in India.” 

The Bigger Picture

This tie-up between Truecaller and HDFC ERGO is more than just a new feature. 

It’s a sign of how tech companies and financial services are joining forces to tackle the growing threat of online scams. 

With Truecaller’s massive user base and HDFC ERGO’s insurance know-how, they’re hoping to make a real dent in India’s digital fraud problem.

It’s an interesting move in the ongoing cat-and-mouse game between scammers and the rest of us. 

As digital fraudsters get cleverer, it looks like the good guys are upping their game too. Will it be enough? Only time will tell, but for now, Truecaller users have got a bit more protection in their pocket.

FAQs

What is the new Fraud Insurance offered by Truecaller and HDFC ERGO?

Fraud Insurance is a new initiative by Truecaller and HDFC ERGO, providing coverage up to 10,000 rupees to victims of digital fraud in India.

Who can avail of the Fraud Insurance provided by Truecaller and HDFC ERGO?

The insurance is available to both Android and iPhone users across India. It is included in Truecaller’s yearly premium service and accessible to regular users without additional cost.

How can I activate the Fraud Insurance on Truecaller?

You can set up the Fraud Insurance directly within the Truecaller app without any paperwork, making it convenient and hassle-free.

What additional security features does Truecaller offer against digital scams?

Truecaller provides an AI-powered spam blocker, a smart AI assistant, and a call scanner to identify and block suspicious calls, alongside the new Fraud Insurance as a backup measure.

Why is the partnership between Truecaller and HDFC ERGO significant?

This collaboration combines Truecaller’s extensive user base with HDFC ERGO’s insurance expertise, aiming to significantly reduce the impact of digital fraud in India.

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