Truecaller Introduces Fraud Insurance in India for Premium Subscribers: How to Sign-up for it?

Truecaller has introduced Fraud Insurance for its premium subscribers in India, addressing the increasing digital financial frauds that have amounted to Rs 1.25 lakh crore over the past three years.

The company has partnered with HDFC ERGO to offer this insurance, which provides coverage up to Rs. 10,000 and can be activated through the Truecaller app without any additional paperwork. The insurance is available to annual subscribers and includes features such as AI call scanner, AI Assistant, spam blocking, and Fraud Insurance.

How to Register for Truecaller Fraud Insurance?

To register for Fraud Insurance, users need to open the Truecaller app, navigate to the Premium Tab, opt for the Yearly Premium Plan if not already subscribed, select Fraud Insurance and follow the prompts to activate coverage.

Indian residents aged 18 or older are eligible for this insurance, including foreigners with an Indian phone number and Indian residents traveling abroad for a short duration.

The insurance is linked to users' subscriptions and will renew automatically along with their subscription. For any insurance-related queries, users can visit the self-help portal of HDFC ERGO through the "Fraud Insurance" card on the Premium screen.

Expansion Plans

Truecaller has over 400 million users globally and 285 million in India. The company's premium subscription service has over one million subscribers in India, with strong growth on iOS platforms and a subscription conversion rate above 2% both in India and globally. Initially available in India for iOS and Android users, Truecaller aims to expand its Fraud Insurance solution to more regions.

CEO Alan Mamedi commented on the launch: "A significant portion of online fraud originates from phone calls and messages, often involving relatively small amounts in India. We understand the challenges in recovering losses, and by introducing an insurance product, we aim to remove barriers and facilitate restitution."