Edelweiss General Insurance launches India's first on-demand, mobile telematics-based comprehensive motor insurance – SWITCH
Key features of SWITCH
India's first mobile app backed – Motor Policy using telematics- Pay As You Use motor insurance policy
- Drive Safer – Save More through the year. The better one drives, the more one can save on their insurance premium
- Completely digital, App-based, On-demand motor policy
- The app detects vehicle motion and automatically triggers insurance
- Subscription-based – Customers can now pay
Motor Insurance premiums monthly as per usage - The claiming journey is also entirely digital, backed by EGI's preferred garage network
SWITCH is a completely digital, mobile telematics-based motor policy. The app detects motion and automatically activates insurance when the vehicle is driven, making it convenient and hassle-free for customers. What makes Switch truly unique is that it also allows customers to save money if they are driving well. This usage-based model measures not only the quantity but also the quality of driving and calculates premium accordingly. This makes SWITCH unparalleled in the market as the only motor insurance product that generates a real-time driving score and dynamically rates the premium. Customers are given a driving score based on several driving parameters such as overspeeding, distracted driving, sudden braking, etc. Simply put, the better one drives, the better one's score will be and the less they will have to pay. In addition, policyholders will no longer need to switch on the policy if they use their car, the app will do it for them.
"I am extremely thankful to the regulator for allowing us to constantly innovate and provide need-based solutions to customers under the Sandbox initiative," Shanai added.
SWITCH can be bought online at www.edelweissinsurance.com. Post-purchase, customers can download the SWITCH app from
About
Consumer insight driven strategy coupled with technology-powered execution is what differentiates EGI in a competitive market. It aims to deliver innovative solutions to customers by leveraging data, analytics and proactive market sensing.
Website www.edelweissinsurance.com
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