CPP India provides its users with an easy way to ensure the safety of their credit/debit card accounts and important documents. It is an invaluable protection for those who travel regularly, those who have multiple credit/debit cards, or those who want a “tension free” credit/debit card experience. It also acts as a single point of contact if you ever lose your wallet, and as a repository for your vital information from your registered documents, which it can supply to you at your time of need.
What does it offer you?
Here are the 24 hour, 7 days a week services CPP offers you, from their toll-free (national and international) helpline.
Multiple card blocking: If you lose your wallet, or it is stolen, you do not need to call every bank individually to block each credit or debit card that has been lost. One call automatically blocks them all.
Fraud cover: CPP provides worldwide fraud cover on your credit/debit cards one whole week prior to the date you report the loss of your cards, as compared to other banks, which only provide cover from the day the cards are reported lost.
Emergency travel/hotel assistance: In case you lose your credit cards/passport etc while travelling in India or abroad, CPP will book you a hotel and your return flight home
Emergency cash advance: Lost your credit/debit cards, have no way to access your money where you are? CPP will provide you a cash advance, depending on your membership type.
Information repository: Lost an important document? Need information from it immediately? CPP will share information from the valuable documents you have registered with them.
How do you get started?
To use CPP services, all you need to do is register your credit cards and important documents with them. An annual fee is deducted as one lump sum at the beginning of the membership and is automatically applied each year until you advise otherwise. Refer to the CPP India website for more information.
Here are the type of plans you can opt for:
Classic
Single: Rs. 995
Joint: Rs 1495
Fraud coverage: Pre-notification Rs. 50,000 coverage, Per card Rs. 20,000 coverage, Post-notification Rs. 15 lakhs coverage
No cash assistance
Hotels: Rs. 40,000
Travel: Rs. 40,000
Premium
Single: Rs. 1295
Joint: Rs 1945
Fraud coverage: Pre-notification Rs. 1 lakh coverage, Per card Rs. 40,000 coverage, Post-notification Rs. 20 lakhs coverage
Cash assistance: Rs. 20,000
Hotels: Rs. 60,000
Travel: Rs. 60,000
Banks supported: CPP currently offers services for the following banks: Citibank, Standard Chartered, HSBC, Kotak Mahindra, ICICI Bank, Axis Bank, Barclays and LIC Cards.
We also interviewed the CEO of CPP India, Mr. Gagan Maini, to get a better look at the services offered by his company. Find excerpts from that interview on the next page:
1. When exactly was the CPP service started in India?
CPP Group Plc is a global market leader in the assistance services market with over 11 million customers and 200 business partners. It is present across Europe, America and Asia, providing market leading products and services to its customers.
CPP was launched in India, in late 2008, with four leading card issuing banks including Citibank, Standard Chartered, HSBC and Kotak Mahindra. Since then we have extended our partnership with ICICI Bank, Axis Bank, Barclays and LIC Cards.
2. Are there any documents/cards that CPP does not provide this service for?
CPP provides customers with assistance relating to loss or theft of their financial and non-financial cards including credit, debit, ATM, loyalty and membership cards. Customers can register these along with documents like passports, PAN card, driving license etc to enable them to quickly reach for these when the originals are not at hand or lost. For example, if the customer also loses his or her passport while traveling abroad, we will help the customer with notifications that they may need including contact details of the nearest Indian consulate so that the customer can get the issue attended to at their earliest.
3. Is there any special assistance provided to ladies?
We do believe that our product is extremely relevant for women in general and they are important beneficiaries of our services. Interestingly, in a survey conducted for CPP by Nielsen, as many as 83 per cent of women surveyed in Mumbai were interested in CPP’s Card Protection service.
We also believe our services provide the much needed peace of mind to any working women who not only manage their work efficiently but also manage their families. And in moments of distress resulting from losing or misplacing wallet or purse and the cards within, we lend them support by taking over all their card loss related anxieties. Additionally, incase CPP Card Protection members are traveling the benefits of the service include helping them get back home safe by paying their hotel bills and providing replacement travel tickets in case they lose their cards and are stranded away from home.
Our product helps address a significant issue that consumers are facing today – that of card loss or theft, possible fraud and resultant anxiety. With CPP’s Card Protection, our members, due to their busy lifestyles, no longer need to worry as assistance is just a phone call away. Regardless of where they are travelling in the world Card Protection plays the role of the friend at a time when they are in distress and vulnerable as a result of card or wallet loss.
4. How many users and cards does CPP protect today? Or, what are the membership figures at present?
Card Protection is still relatively new in the market but we believe we have a product that is extremely relevant for Indian consumers. Card Protection membership is about providing three core benefits to our members – convenience, protection and reassurance.
In a mature market such as the UK, the penetration of Card Protection is over 40% of the carded base. We believe that in a growing market such as India, as more customers carry more plastics, the relevance for Card Protection will only increase.