Realme’s digital payment platform PaySa has entered into a strategic partnership to provide mobile phone screen insurance for Realme Phones under ICICI Lombard’s All Risk Insurance Policy.

The insurance cover, administered as a group policy, can be bought from PaySa mobile app digitally. The process takes only five minutes and does not require submission of documents.

The cover can be availed for phones up to 18 months old and for screen breakage once or twice a year.

The premium starts at Rs250 and varies based on phone model and the age of the phone.

ICICI Lombard executive director Sanjeev Mantri was quoted by Times of India as saying: “This partnership will give us the perfect platform to offer disruptive, affordable, and pure digital insurance products to major Indian cities but more importantly in Tier 2, 3, 4 cities where historically reach, education and servicing have been major roadblocks.”

Realme India CEO Madhav Sheth was quoted by the publication as saying: “Realme PaySa echoes the ethos of ‘Dare to Leap’ and supports our vision to become a 6tech lifestyle brand providing a 360 ecosysytem.

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“Our customers work very hard to create the assets that are valuable to them- phones, laptops, cars, homes, offices, shops and much more. When things go wrong, we want to make it easier for our customers to recover.”

Launched in December 2019 by Realme, Paysa serves as a financial service platform.