Truecaller and HDFC ERGO have teamed up to tackle digital fraud with the introduction of ‘Fraud Insurance’, a product aimed at protecting Indian users against the rising threat of digital communication frauds. In a time where digital financial fraud has led to a substantial loss of Rs 1.25 lakh crore over the past three years, this collaboration comes as a timely solution to safeguard users in the realm of digital transactions.

The partnership between Truecaller, known for its excellence in digital communication, and HDFC ERGO, a leading name in the insurance industry, is set to provide users with a safety net against the evolving landscape of digital fraud. The Fraud Insurance offers coverage of up to Rs 10,000 for both Android and iOS users across India. While premium subscribers automatically receive this coverage as part of their yearly plan, existing users can also avail themselves of this protection for free. What makes this offering even more compelling is the ease of activation, which can be done directly from the Truecaller app.

Fraud Insurance goes beyond just financial coverage; it integrates seamlessly with Truecaller’s existing array of security features, creating multiple layers of protection for users. With AI-driven spam blocking, an AI Assistant, and a call scanner designed to ward off threats, users can rest assured that their digital interactions are safeguarded. And in the unfortunate event that a scam manages to slip through these defenses, the insurance provides a safety net with financial reimbursement.

A recent report by the Indian Cyber Crime Coordination Centre has shed light on the alarming rise in digital financial frauds, resulting in a staggering loss of Rs 1.25 lakh crore over the past three years. Truecaller’s Chief Product Officer and MD for India, Rishit Jhunjhunwala, expressed his enthusiasm for this innovative offering, emphasizing the company’s dedication to user security and trust.

Jhunjhunwala stated, “We empower users with the peace of mind they deserve in today’s complex digital landscape.” The collaboration between Truecaller and HDFC ERGO comes at a crucial time, with the pandemic accelerating the growth of digital mobile payments and subsequently increasing the risk of digital fraud. Vishal Sikand, Joint President, Commercial Lines at HDFC ERGO, echoed Jhunjhunwala’s excitement, highlighting the importance of leveraging technology for customer-centric innovations.

The comprehensive insurance provided by HDFC ERGO, combined with Truecaller’s extensive user base, is set to enhance financial inclusion and protection against digital fraud significantly. This partnership signals a joint commitment to address the challenges posed by digital fraud and strengthen the security measures in place for Indian users.

As users navigate the digital landscape, the collaboration between Truecaller and HDFC ERGO stands out as a beacon of protection against the rampant threats of digital fraud. With Fraud Insurance at their disposal, Indian users can now engage in digital transactions with confidence, knowing that their financial well-being is shielded from malicious activities.

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