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Car Insurance Kotak – When choosing to add a meter, users must download the Kotak Meter app, which allows car owners to turn car insurance on and off based on usage.
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Car Insurance Kotak
MUMBAI: Private non-healthcare company Kotak Mahindra General Insurance Company has introduced meter extension (ignition/time) cover available in its motor insurance plan.
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When opting for the meter add-on (on/off), users need to download the Kotak Meter mobile app available on Play Store or App Store, which allows car owners to turn car insurance on and off based on usage. , by pressing a button.
With a simple on-off mobile application, the customer will have a payday for 24 consecutive hours, with coverage turned off when the car is not in use. Accumulated paydays can be redeemed at the end of the policy term by renewing or obtaining a refund or discount of up to 40 percent of the damage (OD) premium.
Speaking to BizBuzz, Managing Director and CEO of Kotak General Insurance Company, Suresh Aggarwal said, “We launched the product on Sandbox and have so far sold 3,300 policies for a total of Rs 50 lakh.”
The additional segment will be available as an add-on by adding Rs 250 to the premium, he said, adding that 45 per cent of our total business comes from the motor insurance segment.
Vehicle Insurance Download Online
Demand for needs-based insurance is increasing significantly post-Covid. High fuel prices and inflation, as well as hybrid and domestic vehicle operating regulations, have seen a change in the driving preferences of many car owners.
This prompted us to add an intermittent customer activation tool as an add-on to the auto insurance policy. With the new technology-based insurance policy ‘meter’, we want to treat all customers fairly and reward those who drive less. “We believe this will help with customer retention, a better understanding of customer driving behavior and better service,” he said.
