Flipkart to pay 100% premium in the direction of Covid-19 insurance coverage for all its sellers


E-commerce agency has prolonged numerous initiatives to lots of and 1000’s of (micro, small and medium enterprises), small-scale sellers, artisans, weavers and handicraft companions. They’re serving to them tide by way of challenges within the present situation.

These recent efforts vary from monetary advantages, well being and security advantages. They assist present vendor insurance policies all through working capital and insights supplied to sellers on the platform.

“Via these testing occasions it’s our fixed effort to assist our vendor companions who face immense operational challenges on account of the pandemic,” mentioned Jagjeet Harode, senior director and head-marketplace, “As a democratic market, we need to be certain that our lakhs of vendor companions are in a position to proceed operations and maintain the financial engine operating. With them and their household’s monetary and well being security in thoughts, we’ve rolled out these initiatives that may deliver them the much-needed respite to maintain their companies lively.”

Below price waivers, has exempted the storage charges to curb the affect that any vendor might have on their stock that’s fulfilled by way of Flipkart’s fulfilment centres. The corporate can be waiving off the cancellation price until Might 31, 2021, for orders that will have been cancelled because of lockdowns in numerous states.

Prioritising the well being and security of all, Flipkart will bear 100 per cent premium of Covid insurance coverage prolonged to all sellers, which covers their hospitalisation and session between Rs 50,000 to Rs 3 lakh.

In mild of the present state of affairs, the corporate has additional up to date its present insurance policies to safeguard 3,00,000 sellers and their companies. Flipkart has prolonged the window for the Vendor Safety Fund (SPF) inside which sellers have to say SPF on returned merchandise – from the common 14 days to now 30 days. The corporate will additional ease the insurance policies and efficiency metrics for its sellers to make sure that their enterprise progress isn’t impacted by state-led lockdowns. So as to additional help sellers with their operational and different capabilities, the corporate is offering simpler entry to working capital. Below this, all sellers impacted by pandemic associated disruptions could have an choice of early settlement (next-day cost) with none incremental price. Transaction price for a similar will likely be borne by Flipkart.

Along with these efforts, Vriddhi-–Walmart’s Provider Growth Program in India, in partnership with Flipkart-–has been organising webinars for small companies. The intention is to disseminate data and share greatest practices to make sure the protection of their workforce and supply related demand insights to assist them keep operational by way of this second wave. The Vriddhi program is opening e-Institutes throughout India to assist prepare to scale and enter world provide chains. Throughout these difficult occasions, Vriddhi is offering small companies with telecare and counselling assist along with info modules on insurance coverage consciousness and digital advertising to make sure enterprise continuity.

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