Digit offers ‘simple and relevant’ insurance products

“After taking travel insurance, have you paused to find out if the cover includes flight delays,” asks Jasleen Kohli, Chief Distribution Officer, Digit Insurance.

The insurance start-up, which as its name suggests issues policies only in the paperless mode, promises to make insurance “simple and relevant” by redesigning products.

Simplified procedure

“We want to ensure that travellers do not shy away from taking a cover or making a claim. What is in a cover if one cannot make a claim,” Kohli asks. In existing travel insurance products, flight delay is covered only if it is of at least six hours.

In a chat with BusinessLine , Kohli pointed out that less than 0.1 per cent of the flights get delayed by six hours. “We did an extensive study and decided to make the policy more relevant. We came up with a product to cover flight delays. If a traveller has taken a travel cover from Digit, all that the insured would have to do is take a picture of his boarding pass and upload the same to us. Within the next 10-15 minutes, we will revert to the passenger to find out how he wants his claim settled and have the money transferred instantly. It is simple. The passenger is able to get his claim without any hassle,” she said and pointed out that Digit has sold 45,000 policies till date. Apart from flight delays, Digit also offers cover for baggage loss. “In the existing product (covering baggage loss), the insurer will ask for bills (in the event of lost baggage) and one would have to wait to get the claim. We do not ask for details, merely look up the amount that you have sought to cover and settle it instantly,” she said.

Mobile insurance

“We also offer mobile (smart phone) insurance cover. We have redesigned it and made it simple by offering cover for screen damage, total damage and theft. The cover, though, is applicable only for new phones,” Kohli said. Digit has tied up with e-commerce majors such as Flipkart, Amazon and Policy Bazaar to protect new mobiles bought online, through any of these portals.

“Ours is an IMEI linked cover; customers can choose to cover as per their need,” she said and pointed out that the customer would be able to take mobile protection cover by enjoying a flat 20 per cent of the invoice value if purchased via the Flipkart portal.

The protection plan of Amazon covers theft and screen damage.

Besides travel and mobile insurance, Digit offers motor and jewellery insurance (the latter in a tie-up with Tanishq). It plans to roll out furniture insurance and a health insurance product soon.

The company is backed by Fairfax Group.

Digit’s products are available in 18 cities at present. The company plans to add another 25 cities this year and to have tie-ups with more e-commerce players, she said.

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