Shanai Ghosh, MD & CEO, Zuno General Insurance, said, “Telematics is a silver lining for motor insurance industry in India. It allows us to offer personalized solutions and experience to our customers. Given the exponential growth of smartphone users in the country, telematics-based solutions will appeal to the digital natives empowering them to see and influence the pricing they get on Motor Insurance.”
Mumbai:
Edelweiss General Insurance has announced its new identity as Zuno General Insurance Limited (Zuno GI). Zuno GI is a new age digital insurer with an aspiration to reimagine and redefine Insurance to make it easy, friendly, and transparent. It is built on the premise that any kind of general insurance should be simple, easy, and straightforward.
Along with the new identity, the company has launched a consumer study titled ‘Usage Based Insurance: Decoding Awareness, Perception and Behaviour’.
The study was done to understand Millennial and GenZ’s awareness, understanding and consideration for UBI. Zuno General Insurance has been fore fronting the concept of usage-based insurance (UBI) in India for almost three years now.
Shanai Ghosh, MD & CEO, Zuno General Insurance, said, “The name and identity represents the young, innovative, approachable, digital native and upbeat personality of the brand and resonates with the Millennial and GenZ audience.Telematics is a silver lining for motor insurance industry in India. It allows us to offer personalized solutions and experience to our customers. Given the exponential growth of smartphone users in the country, telematics-based solutions will appeal to the digital natives empowering them to see and influence the pricing they get on Motor Insurance.”
Key highlights of the research:
– 65% respondents feel that people in India are safe drivers.
-90% respondents want to get a driving score that indicates how safe they drive.
-58% respondents are aware of usage-based insurance.
-70% respondents have strong intention to buy usage-based insurance over other insurance options.
-Rewards for safe driving’ & ‘Driving score’ are the top two influential factors to opt for usage-based insurance.
-76% respondents strongly believe that getting a driving score will help improve their driving skills.
-95% respondents believe rewarding safe driving will positively influence driving behavior.
Zuno General Insurance conducted the survey in eight cities – Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, and Ahmedabad, in collaboration with Crownit.