Money & Banking

Bharti AXA General Insurance launches add-on cover

Our Bureau Bangalore | Updated on February 14, 2011

Mr Amarnath Ananthanarayanan, CEO &MD, Bharti AXA General Insurance at the launch of Road side Assistance - Insurance in Bangalore on Monday Photo: G R N SOMASHEKAR   -  Business Line

Private general insurer Bharti AXA General Insurance has launched a ‘Road Side Assistance' add-on cover that provides support to customers stranded due to vehicle break-down or accident. It has partnered with AXA Assistance to launch this service in 1,500 locations across 22 states with 3,175 service providers.

Stand-alone product

“Though we will primarily focus on our motor insurance customers who have chosen this as an add-on feature, we would also give this as a stand-alone product to others who have a motor insurance cover offered by competitors,” said Dr Amarnath Ananthanarayanan, CEO and Managing Director, Bharti AXA General Insurance. He added that he expected 8-10 per cent of new customers to take this product.

According to him, the company has garnered Rs 525 crore of gross written premium in the motor insurance segment since inception in August 2008, and expects gross written premium from the segment to cross Rs 400 crore premium this fiscal. “Next year, we expect to grow around 60 per cent,” he said.

The insurer will start with providing roadside assistance service to all private cars up to five years of age. “We plan to extend these services to commercial vehicles later on,” he said. Through this cover, the insured gets unlimited interventions during the policy period. “To ensure that we are able to offer timely help to customers, the network is divided into grids across the country, with each grid led by a network manager,” he added

Premium

In the event of a breakdown, the customer, who can avail himself of the cover at a premium of Re 1 per day, can call a toll-free number 1800-1020-100 to seek assistance. The call centre identifies the service provider, and the network manager ensures that assistance reaches the customer on time.

The services include minor repair services, vehicle relocation to the nearest garage for repair, changing a flat tyre, assistance in case of lockout or lost keys, arrangement of emergency fuel, and alternative transport arrangement. “The policy will cover the labour charges,” said Dr Ananthanarayanan. All that the customer has to mention to avail assistance is cover note number, policy number, registration number or engine/chassis number.

Published on February 14, 2011

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