Flipkart to pay 100% premium towards Covid-19 insurance for all its sellers

Topics Flipkart | MSMEs | Coronavirus

Flipkart will bear 100 per cent premium of Covid insurance extended to all sellers, which covers their hospitalisation and consultation between Rs 50,000 to Rs 3 lakh.

Flipkart has extended various initiatives to hundreds of thousands of MSMEs (micro, small and medium enterprises), small-scale sellers, artisans, weavers and handicraft partners. They are helping them tide through challenges in the current scenario.

These fresh efforts range from financial benefits, health and safety benefits. They support existing seller policies all the way through working capital and insights provided to sellers on the platform.

“Through these testing times it is our constant effort to support our seller partners who face immense operational challenges as a result of the pandemic,” said Jagjeet Harode, senior director and head (marketplace), Flipkart.

Under fee waivers, Flipkart has exempted the storage fees to curb the impact that any seller may have on their inventory that is fulfilled through Flipkart’s fulfilment centres. The company is also waiving off the cancellation fee till May 31, for orders that may have been cancelled due to lockdowns in various states.

Prioritising health and safety, Flipkart will bear 100 per cent premium of Covid insurance extended to all sellers, which covers their hospitalization and consultation between Rs 50,000 and Rs 3 lakh.

In light of the current situation, the firms has updated its existing policies to safeguard 300,000 sellers and their businesses. Flipkart has extended the window for the Seller Protection Fund (SPF), within which sellers have to claim SPF on returned products, from the regular 14 days to now 30 days.

It will further ease policies and performance metrics for its sellers to ensure their business growth is not impacted by lockdowns. In order to further assist sellers with operational and other capabilities, the firm is providing easier access to working capital.

Under this, sellers will have an option of early settlement (next-day payment) without any incremental cost. Transaction fee for the same will be borne by Flipkart.

In addition, Vriddhi — Walmart’s supplier development programme in India — has been organizing webinars for small businesses. The aim is to disseminate knowledge and share best practices and provide relevant demand insights to help them stay operational through this second wave.

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