Device Insurance- Your Device’s Full Protection

Device insurance is a product of Altruist Technologies Limited, where a customer can get insurance coverage against any accident to the insured device. It can remove your anxiety for your valuable device and bring comfort in your mind, knowing that you have financial support for accident. Premium starts from only 28 Tk/month (*Tax/ VAT applicable).

About Altruist Secure Device Insurance:

  • Altruist Secure is an App based Device Insurance subscription which covers- physical damage, theft and lost. It is an annual [12 months from activation date] subscription and coverage product where customer will be under 12 months’ Insurance Coverage and can pay the annual subscription fee/premium at a single go or in monthly installment basis.
  • Customer who just bought a new device [only smart devices having iOS/Android] from any of the Grameenphone Experience Centers and Grameenphone Centers across the country, having purchase invoice issued by GP sales point mentioning Device IMEI and using GP SIM in that device will be eligible for this product subscription.

Insurance policies that Altruist is offering-

  1. Damage coverage policy
  2. Theft / Lost coverage policy
  3. Full Coverage policy (damage + theft/ lost).

POLICY DESCRIPTIONS:

  1. Damage coverage: Any damage caused to a mobile phone hardware (each component including its screen) by any sort of accident e.g. fire/liquid/drop.

    Coverage detail: As 1st option, Altruist assigned logistic partner will pick the insured phone from customer’s doorstep and return the phone to customer doorstep as well after repairing by 7 working days [standard turnaround time] from the pick up under 100% own arrangement and cost.

    Logistic partner will pick up the phone by 2 working days [standard timeline] in metropolitan cities and by 3 working days [standard timeline] in district level from completing the document. Standard turnaround time is 7 working days if the insured device is under out of manufacturer warranty because it will be repaired by Altruist’s repair partner- Quickfix using grade 1 copy parts.

    Standard turnaround time of 7 days is not applicable when the insured Device is under warranty because that will be repaired from device vendor’s authorized service center only by using original parts. In this case, device vendor’s authorized service center provided timeline will be considered as turnaround time and communicated to the customer. If customer is not paying CCTC amount within 48 hours after placing a request, standard turnaround time will not be applicable.

    In case of inability to meet 1st option, Altruist can opt 2nd option - will pay back to locally repaired cost to customers upon her/his consent and Altruist will pay any claim amount up to depreciated device value. In this case, Altruist will pay within 7 working days from the date of document and bill submission.

    In case of inability to meet 1st option and 2nd option, Altruist can opt 3rd option; Altruist will pay back the full depreciated device value to customers. In that case, customer has to deposit the device to Altruist forever and Altruist will pay to customer within 7 working days from the date of sending the device to Altruist and altruist will keep the device forever.

  2. Theft/lost coverage: Any valid lost case supported by General Diary [GD] + lost SIM replacement copy from GP service point and theft case supported by First Information Report [FIR] at local police station + lost SIM replacement certificate copy from GP service point.
    Coverage detail: Insurer will pay back the depreciated sum insured value to customers by 10 working days from the date of submission all documents.
  3. Full coverage: Eligible for damage coverage and theft/lost coverage.
    Coverage detail: mentioned against both 1 & 2.

Conditions for Device Insurance Subscription:

  1. This offer is applicable for only GP customers who are purchasing new smartphone from Grameenphone Experience Centers and Grameenphone Service Centers.
  2. Customer can pick Damage coverage or Theft/lost coverage or both together in full coverage policy
  3. Insurance coverage period will be 12 months
  4. Premium payment mode: bkash
  5. Premium payment process: monthly/annually
  6. Before insurance claim customers need to pay the full annual premium
  7. Can claim multiple times during this coverage period
  8. If customer port out to other operator or fail to pay premium within 7 days of due date, insurance will void
  9. For any insurance coverage claim, customer need to pay 1000 tk or 10% of the claim value (whichever is lower) as CCTC.
  10. Customers must report within 7 days and submit required documents by 15 days of the incident. Insurer will pay back within 10 working days of claim submission.

Please visit http://bd.altruistsecure.com for details

Subscription process and medium:
A customer can download the App named– “Altruist secure BD” from both Android Play store/iOS App store and complete the subscription by sharing/uploading some information about customer and device and making premium payment via bkash.

Coverage Claim process against incident:
A customer can raise a claim via online portal/email/call:

  1. Service request through the online portal - Visit Altruist’s website bd.altruistsecure.com and log in using your registered mobile number.
  2. Service request by email - Send an email to bangladesh.cc@altruistsecure.com
  3. Service request by using Customer Care Number +880 01730805151/ 0912449966

A customer must claim within (7) days from the incident for any coverage and need to submit all the required documents to support the claim by fifteen (15) days from the incident to Insurer.

Premium Pricing Table for Different Handsets and Insurance Policies (*Tax/VAT applicable for all prices):

Policy Name Slab (Sum Insured value) Monthly Payment Monthly Payment with VAT Annual Payment Annual Payment with VAT
Damage coverage policy 2000 to 10000 64 73.6 768 883.2
Damage coverage policy 10001 to 20000 128 147.2 1536 1766.4
Damage coverage policy 20001 to 30000 193 221.95 2316 2663.4
Damage coverage policy 30001 to 40000 257 295.55 3084 3546.6
Damage coverage policy 40001 to 50000 321 369.15 3852 4429.8
Damage coverage policy 50001 to 75000 481 553.15 5772 6637.8
Damage coverage policy 75001 to 100000 642 738.3 7704 8859.6
Damage coverage policy 100001 to 150000 963 1107.45 11556 13289.4
Full Coverage policy (damage + theft / lost). 2000 to 10000 83 95.45 996 1145.4
Full Coverage policy (damage + theft / lost). 10001 to 20000 167 192.05 2004 2304.6
Full Coverage policy (damage + theft / lost). 20001 to 30000 250 287.5 3000 3450
Full Coverage policy (damage + theft / lost). 30001 to 40000 333 382.95 3996 4595.4
Full Coverage policy (damage + theft / lost). 40001 to 50000 417 479.55 5004 5754.6
Full Coverage policy (damage + theft / lost). 50001 to 75000 625 718.75 7500 8625
Full Coverage policy (damage + theft / lost). 75001 to 100000 833 957.95 9996 11495.4
Full Coverage policy (damage + theft / lost). 100001 to 150000 1250 1437.5 15000 17250
Theft / Lost coverage policy 2000 to 10000 28 32.2 336 386.4
Theft / Lost coverage policy 10001 to 20000 55 63.25 660 759
Theft / Lost coverage policy 20001 to 30000 83 95.45 996 1145.4
Theft / Lost coverage policy 30001 to 40000 110 126.5 1320 1518
Theft / Lost coverage policy 40001 to 50000 138 158.7 1656 1904.4
Theft / Lost coverage policy 50001 to 75000 206 236.9 2472 2842.8
Theft / Lost coverage policy 75001 to 100000 275 316.25 3300 3795
Theft / Lost coverage policy 100001 to 150000 413 474.95 4956 5699.4

What is Device Insurance product from Altruist Secure?
Altruist Secure is a Mobile App based Device Insurance subscription that permits you to activate Insurance benefits for your valued smartphones and tabs. Your gadget is ensured and fully protected against any unexpected incident like - damage, theft and lost. You can download the App named – “Altruist Secure BD” from both Android Play store/iOS App store.

What will be the Insurance Coverage period and subscription fee payment frequency?
Ans. It is an annual [12 months from activation date] subscription and coverage product where customer will be under 12 months’ Insurance Coverage and can pay the annual subscription fee at a single go/equal monthly installment [equal 12 payments].

Which device is eligible for Altruist Secure Insurance Coverage?
Customer who just buy a new Smartphone from any of the Grameenphone Experience Centers and Grameenphone Centers across the country, having purchase invoice issued by GP store, mentioning Device IMEI & MRP clearly and using GP SIM in that device will be eligible for this product subscription.

Is this Insurance product only for GP subscriber?
Yes, a customer who will be using a GP SIM at the time of subscription only can enjoy the service. At the time of subscription in App, a customer must enter that GP MSISDN number.

What all packs are available under Altruist Secure Subscription?
There are 3 types of Insurance policies–

  1. Damage coverage policy
  2. Theft/Lost coverage policy
  3. Full Coverage policy (damage + theft/lost).

What is basically the Insurance Coverage in three different policies?

  • Damage coverage: Any damage caused to a mobile phone hardware (each component including its screen) by any sort of accident e.g. fire/liquid/drop.

    Coverage detail: As 1st option, Altruist assigned logistic partner will pick the insured phone from customer’s doorstep and return the phone to customer doorstep as well after repairing by 7 working days [standard turnaround time] from the pick up under 100% own arrangement and cost.

    Logistic partner will pick up the phone by 2 working days [standard timeline] in metropolitan cities and by 3 working days [standard timeline] in district level from completing the document. Standard turnaround time is 7 working days if the insured device is under out of manufacturer warranty because it will be repaired by Altruist’s repair partner- Quickfix using grade 1 copy parts.

    Standard turnaround time of 7 days is not applicable when the insured Device is under warranty because that will be repaired from device vendor’s authorized service center only by using original parts. In this case, device vendor’s authorized service center provided timeline will be considered as turnaround time and communicated to the customer. If customer is not paying CCTC amount within 48 hours after placing a request, standard turnaround time will not be applicable.

    In case of inability to meet 1st option, Altruist can opt 2nd option - will pay back to locally repaired cost to customers upon her/his consent and Altruist will pay any claim amount up to depreciated device value. In this case, Altruist will pay within 7 working days from the date of document and bill submission.

    In case of inability to meet 1st option and 2nd option, Altruist can opt 3rd option; Altruist will pay back the full depreciated device value to customers. In that case, customer has to deposit the device to Altruist forever and Altruist will pay to customer within 7 working days from the date of sending the device to Altruist and altruist will keep the device forever.

  • Theft/lost coverage: Any valid lost case supported by General Diary [GD] + lost SIM replacement copy from GP service point and theft case supported by First Information Report [FIR] at local police station + lost SIM replacement certificate copy from GP service point.
    Coverage detail: Insurer will pay back the depreciated sum insured value to customers by 10 working days from the date of submission all documents.
  • Full coverage: Eligible for damage coverage and theft/lost coverage.
    Coverage detail: mentioned against both 1 & 2.

What is the annual/monthly Insurance subscription fee for a device?
Please use the web/app calculator to figure out your premium amount. A user can fill up certain details to find out the subscription fee for their mobile device. User should click on Buy Altruist Secure on https://bd.altruistsecure.com
It will follow the below table–

Policy Name Slab (Sum Insured value based on Device purchase invoice) Monthly Payment (Base PP) Monthly Pach with VAT Annual Pack Base PP Annual Pack with VAT
Damage coverage policy 2000 to 10000 64 73.6 768 883.2
Damage coverage policy 10001 to 20000 128 147.2 1536 1766.4
Damage coverage policy 20001 to 30000 193 221.95 2316 2663.4
Damage coverage policy 30001 to 40000 257 295.55 3084 3546.6
Damage coverage policy 40001 to 50000 321 369.15 3852 4429.8
Damage coverage policy 50001 to 75000 481 553.15 5772 6637.8
Damage coverage policy 75001 to 100000 642 738.3 7704 8859.6
Damage coverage policy 100001 to 150000 963 1107.45 11556 13289.4
Full Coverage policy (damage + theft / lost). 2000 to 10000 83 95.45 996 1145.4
Full Coverage policy (damage + theft / lost). 10001 to 20000 167 192.05 2004 2304.6
Full Coverage policy (damage + theft / lost). 20001 to 30000 250 287.5 3000 3450
Full Coverage policy (damage + theft / lost). 30001 to 40000 333 382.95 3996 4595.4
Full Coverage policy (damage + theft / lost). 40001 to 50000 417 479.55 5004 5754.6
Full Coverage policy (damage + theft / lost). 50001 to 75000 625 718.75 7500 8625
Full Coverage policy (damage + theft / lost). 75001 to 100000 833 957.95 9996 11495.4
Full Coverage policy (damage + theft / lost). 100001 to 150000 1250 1437.5 15000 17250
Theft / Lost coverage policy 2000 to 10000 28 32.2 336 386.4
Theft / Lost coverage policy 10001 to 20000 55 63.25 660 759
Theft / Lost coverage policy 20001 to 30000 83 95.45 996 1145.4
Theft / Lost coverage policy 30001 to 40000 110 126.5 1320 1518
Theft / Lost coverage policy 40001 to 50000 138 158.7 1656 1904.4
Theft / Lost coverage policy 50001 to 75000 206 236.9 2472 2842.8
Theft / Lost coverage policy 75001 to 100000 275 316.25 3300 3795
Theft / Lost coverage policy 100001 to 150000 413 474.95 4956 5699.4

 

What does Altruist Secure cover?
Only smart devices- Smartphones, Tablets & iPads.

What would be the Sum Insured Value [Maximum Insurance Coverage Value] of this device at the time of purchase?
100% of the invoice value provided by Grameen Phone centers (GPC) but there will be 1-month cooling period from the date of subscription where customer cannot raise any claim. Maximum Sum Insured value will be determined based on below table.

Age of the Insured Gadget from purchase invoice date Sum Insured value for maximum insurance coverage and insurance premium Identification
0-3 months 100% of the valid invoice value
4-6 months 80% of the valid invoice value
7-9 months 70% of the valid invoice value
10-13 months 60% of the valid invoice value

 

What would be the depreciated Sum Insured Value [Maximum Insurance Coverage Value] at the time of claim?

Age of the Insured Device from subscription Activation Month Depreciated value
0-1 month Cooling period
1-3 months 90% of the Sum insured value
4-6 months 80% of the Sum insured value
7-9 months 70% of the Sum insured value
10-12 months 60% of the Sum insured value

 

What would be the geographic coverage of claim incident?
This Policy covers devices bought from GPC only and used or claim incident take place anywhere in the world.

How can you activate Altruist Secure?
You can download the App named– “Altruist Secure BD” from both Android Play store/iOS App store.

What all details customer needs to fill on the activation form in Mobile App?
The mandatory information will be required as follows-
A. Mobile number [MSISDN]
B. First name & Last name
C. Email ID
D. National ID
E. Father Name
F. Need to upload copy of Device Purchase Invoice issued by GPC/Genex only.
G. Select the store name [GPC name] from drop down.

How to raise a claim?
You can raise a claim via online portal/email/Call:

  1. Service request through the online portal - Visit our website http://bd.altruistsecure.com and log in using your registered mobile number.
  2. Service request by email- Send an email to http://Bangladesh.cc@altruistsecure.com
  3. Using Customer Care Number +880 01730805151/ 0912449966

What is the time limit to raise a claim?
A customer must claim within (7) days from the incident for any coverage and need to submit all the required documents to support the claim by fifteen (15) days from the incident to Insurer.

What information you need to fill while raising a claim?

  1. Mobile Number and National ID number.
  2. Date of the incident.
  3. Type of Claim (Damage/theft/lost)
  4. Damage device pictures (front and back)
  5. In case of theft customer must submit FIR copy from local police station
  6. In case of loss customer must submit the GD copy from local police station.

How you will get updates?
You will get updates via email and SMS or our executive will call you if required.

How many claims can be raised?
No limit on claim count in 1 year subject to consolidated value of repairs up to the depreciated Sum Insured value at the time of claim.

What are the documents required to raise claim?
To ensure that you have a smooth service request process, please prepare the following information after submitting a claim. Please contact us at Bangladesh.cc@altruistsecure.com or call the hotline, if you require assistance. Below are the documents - 1. Address for pick up or drop the device. 2. Copy of National ID. 3. Damage device pictures (front & back) 4. In case of theft, submit the FIR copy + lost SIM replacement copy issued by GP stores. 5. In case of loss submit the GD copy respectively + lost SIM replacement copy issued by GP stores.

How do I need to share documents after submitting a claim?
Customer must submit certain documents to avail the service. These can be uploaded via:

  1. App - ‘Altruist Secure BD’
  2. Visit us at bd.altruistsecure.com, login with your registered number and upload the documents.
  3. Mail us at bangladesh.cc@altruistsecure.com

What if I need any assistance in filling the forms?
You can connect on call with Altruist call center executive anytime between 9 AM to 6 PM. Please call to +880 01730805151

Is there any payment required from customer for claim settlement?
Before any claim can be settled, customer must pay the CCTC (10% of the claim amount) or 1000 taka whichever is lower.
Also, at the time of 1st Claim, customer must pay the full annual subscription fee [payment of rest of the month’s fee if a customer is enjoying monthly subscription fee payment facility] in advance.
For example, if a customer wants to place/submit his 1st Insurance claim due to any accident/s on 4th month from subscription, he needs to pay rest 8 months’ subscription fee in advance to clear the annual payment. As a result, that customer does not need to pay any subscription fee for rest of the coverage tenure. That means, if that customer needs to place/submit his 2nd Insurance coverage claim due to another accident/s on 6th month from subscription, he will not pay any subscription fee other than only CCTC part.

What would the maximum claim amount on different ages of device and subscription?
It will follow the below example–

Header Value
Device Purchase date 1-Sep-20
Device Value as per Invoice 10000
Subscription activation date 1-Jan-21
Device age from purchase date 4 months
Depreciation % of the invoice value as per table 80%
Sum Insured Value as per depreciation % table 8000
Monthly premium for Damage Coverage Policy [Including VAT+SD] 73.6
1st Claim Date 1-Mar-21
Age of Insured device from subscription activation 3 months
Depreciation % of Sum Insured Value as per subscription age 90%
Depreciated Sum insured 7200
Max. Claim eligibility in 3rd month 7200
1st Claim Value as for example 1500
2nd Claim Date 1-Jun-21
Age of Insured device from subscription activation 6 months
Depreciation % of Sum Insured Value as per subscription age 80%
Depreciated Sum insured 6400
Max. Claim eligibility in 6th month 4900
2nd Claim Value as for example 1500
3rd Claim Date 1-Sep-21
Age of Insured device from subscription activation 9 months
Depreciation % of Sum Insured Value as per subscription age 70%
Depreciated Sum insured 5600
Max. Claim eligibility in 9th month 2600
3rd Claim Value as for example 1000

 

When can first claim be raised?
No claim will be accepted during first 30 days after activation. Customer will be entitled for a claim from 31st day onwards. The initial 30 days of the active Service is considered as ‘Cooling Period’. Within the Cooling Period the purchaser cannot return the policy for whatever reasons.

What should I do to prepare my smartphone for repair?
Before you hand over your damaged smartphone to our courier for repairs, please ensure to:

  1. Backup your files
  2. Remove your SIM & other memory card
  3. Unlink your phone from your e-mail, messengers, social media accounts, or anything else the phone may be connected to
  4. Remove security locks
  5. Place your smartphone in a logistic partner provided- bubble-wrap or other suitable packaging material and pack it in a sturdy box which offers great protection during transit.
  6. Label the box clearly with your name and the information shared by Altruist secure via SMS (i.e. AWB number and Altruist address)

What do you mean by CCTC?
CCTC (Customer contribution to claim) is 10% of the claim value/repair value or 1000 taka whichever is lower. Customer must deposit the amount immediately post in principle approval directly to Altruist a/c via Bkash.

How customer pay the annual/ monthly premium?
Payments can be done only via Bkash wallet and a monthly subscriber has to maintain balance in their wallet for smooth transactions.

How to pay CCTC of the device claim?
Customer will pay the CCTC amount via Bkash or Altruist will share a payment link via SMS or email to make the payment.

How do I get updates about my service request status?
To check the status of your service request, you can login to our website bd.altruistsecure.com or mail us at Bangladesh.cc@altruistsecure.com. Or call the hotline.

Who is responsible for any types of product and service-related issues?
Altruist will take full responsibility and will manage entire value chain and customer journey.

What is the role of GP in this Device Insurance Product?
GP is the exclusive Telco partner who will promote this product through channel and communicate in ATL & BTL as per GTM.