E-commerce giant Flipkart on Sunday said it entering into the insurance segment after securing a corporate agent license.

“Flipkart has teamed up with Bajaj Allianz General Insurance to provide customized insurance solutions to power our complete mobile protection programme for all leading mobile brands sold on our platform with Bajaj Allianz,” said Flipkart in a statement.

In the latest initiative, it will provide both cash payout or free pick up, service and drop convenience to customers.

The mobile insurance plan will be valid for a year. The plan will cover accidental screen, liquid damage, and theft for phones. For claims, customers will either have to return the phone for fixing or choosing for a cash payout which will be deposited in his/her bank account.

The complete mobile protection plan starts at Rs 99 and it will be activated from the day on which device is delivered. The insurance plan for the customers will be available from October 10, the same day on which The Big Billion Day starts.

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“Insurance is the next initiative in offering customers with excellent after-sales care for their phones. The plan, from purchase to claim, will be completely incorporated into our online platform,” said Ravi Garikipati, who is the senior vice president and head of Fintech.

As per one report, there are about 36% of mobile phone users in India which possess smartphones. As per IDC, the smartphone market in India will reach double-digit growth in 2018.

Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said, “Bajaj Allianz General Insurance has always been at the forefront in exploring new avenues for our customers and being there for them wherever they are, and this partnership with Flipkart is a step in that direction.”

According to the financial year 2017-18, Flipkart’s Gross-Merchandise Value (GMV) is $7.5 billion and net sales of $4.6 billion, showing 50% year-on-year growth.

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Flipkart consists of one-lakh sellers and it offers 80 million products in 80 categories, along with smartphones, electronics, sports goods, fashion, furniture, etc.

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Burger Singh is one of the popular fast food restaurants in the New Delhi NCR. It is also the largest chain of homegrown Indian flavour burgers in the QSR category, declared today its plans to provide investment in forty franchises for shop owners across the country.

The investment model which is also referred to as franchise-owned-company-operated is simple and provides guaranteed returns for shop owners with just shop set-up investment. The branch is growing at a rate of 600% YoY with an effective presence in North and West India with 23 outlets is welcoming new franchises in order to expand its services.

Kabir Jeet Singh said, “We are looking to target shop owners only right now. The idea fits our vision to make Burger Singh synonymous with QSR globally. Having established a strong foothold in the Northern and Western region of the country, the franchise model makes sense to expand the business further. It is a win-win for all involved since we get the space, and the shop owners get guaranteed returns on their investment.”

He further added, “Along with the benefits to shop owners, Burger Singh will ensure the highest quality and standards are met and maintained in all upcoming franchises. Our customers are the top priority and there are no compromises there.”

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About Burger Singh

Kabir Jeet Singh along with its partner Nitin Rana launched Burger Singh in 2014. The Gurgaon based startup has quickly expanded into a chain of quick service restaurants (QSR) with 25 outlets – 20 in Delhi NCR, one in Dehradun, Pune and Nagpur and 2 in the UK.

Burger Singh specialties include vegetarian Keema Pao, the Pao Bhaji Burger, Malabar Express Chicken Burger & Channa Burger for the vegetarians, Amritsari Murgh Makhani Burger, Jaatputt Chicken Burger, Udta Punjab Burger, Bunty Pappeh Da Aloo Burger and the United States of Punjab Burgers in both vegetarian & non-vegetarian options, amongst others.

It was launched with an investment of 1 Crore, put in by the founders, their families, and friends, the startup has obtained Rs 7.5 Crore in two rounds of funding, one in October 2015 and other in December 2016. Funding has helped the startup to launch new restaurants in different cities across India.

The main purpose of the company is to build the technology to manage the company’s supply chain, and fluent communication between vendors, employees, and customers were some of the main challenges of Burger Singh. Burger Singh was awarded the Most-admired Food Services Chain 2017 in QSR category by India Retail Forum and Best Emerging QSR Chain 2017 by the Indian Restaurant Congress.

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What are the future plans of Burger Singh?

The Startup currently has a staff of 370 members, gained Rs 9 Crore in revenue in 2017-18 and it is optimistic to tripling its growth by 2018-19. Singh said, “We are expecting a three-fold growth and seek to increase Burger Singh’s outlet count to 38 by the end of this financial year. The idea is to do to the burger space what Domino’s did to the pizza market.” The firm has also signed a contract to launch 18 outlets in the UK, two of which are already started.

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India is the third-largest startup destination worldwide and is also the fastest growing base of software developers globally. India is putting great efforts to develop the latest technologies and to improve its economic growth.

In the last few years, Facebook India has been playing a vital role in helping the startup ecosystem in the industry and supporting businesses working in various industries via different programmes and initiatives.

In a bid to recognize India’s fast-moving startup ecosystem, Facebook on Wednesday stated that it is going to conduct it’s first-ever India Startup Day on October 9. At the event, Facebook is going to celebrate Indian stories of founders and leaders utilizing technology in order to solve and future societal problems.

The event is going to attract key businesses, policy leaders and aspiring startups discuss opportunities and challenges which are faced by the new generation of entrepreneurs, Facebook said in a statement.

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This is an amazing opportunity for startups to represent their innovations to the industry, get a ticket to participate in the big competition and a platform to network with the biggest names in the industry.

Click here to Apply for the Facebook India Startup Day Awards

There are mainly 5 categories of words:

1. SheLeadsTech: Will be given to most successful companies having a woman as founder/co-founder.
2. Building for the World: Will be given to companies working on a solution which have a global impact and have a traction outside India.
3. Building for Tomorrow: This award is for all those startups developing solutions using the emerging technologies such as AR/VR/ML/AI, etc.
4. Building for the Next Billion: Will be given to startups which are developing and providing solutions for social, cultural and/or environmental issues in India will be awarded.
5. Community Builder: Will be given to startups building solutions to support the developer/startup community in India.

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The social media giant stated that the startup’s solutions will be “judged against their innovativeness, the traction/ disruption they have created in their individual fields, and the potential for future impact.” The finalists will be selected by a jury of industry experts and stakeholders including Facebook. The finalists will report to the jury on October 6 in Bengaluru and the winners will be declared on October 9.

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