Digit Insurance, CredR Join Hands to Offer Affordable Insurance Cover - Startup Terminal

Tuesday, July 21, 2020

Digit Insurance, CredR Join Hands to Offer Affordable Insurance Cover

Mumbai, India, July 21, 2020 - Road accidents are a common hazard in India where resulting in increased deaths with each passing year. Recent reports suggest that even during the recent lockdown period, between March 24 and May 30, India recorded about 1,461 road accidents. Omnichannel used two-wheeler brand CredR, joins hands with Digit Insurance, one of the fastest-growing insurance companies in the world, to offer relevant and affordable health insurance cover to second-hand vehicle owners. This arrangement is done under a voluntary group insurance policy issued by Digit to CredR. Under this partnership, CredR customers will be offered affordable accidental insurance cover or loss of pay arising out of road accidents.

Digit Insurance, CredR Join Hands to Offer Affordable Insurance Cover


The cover includes any accidental bodily injury, which completely prevents the insured from performing all duties pertaining to their employment or occupation on a temporary basis. The users pay a premium of Rs 525 (incl GST) in order to avail the benefit of Rs 5,000 per week or actual weekly salary, whichever is lower, up to 100 weeks. This insurance will be made available to all customers who purchased a used two-wheeler from CredR.

Speaking on this initiative, Sasidhar Nandigam, Chief Strategy Officer (CSO) - CredR said, “Our customer profile largely consists of working professionals who stand to benefit from a bundled offer such as accidental insurance cover. With increasing road accidents every year, extending a voluntary insurance of this nature seemed like the need of the hour, to safeguard the interests of our customers”.

He further added that with CredR’s philosophy of being a customer-centric organization along with being a market pioneer for new and innovative products lead to this partnership in order to improve customer satisfaction and loyalty.

Jasleen Kohli, Chief Distribution Officer, Digit Insurance, said, “Our mission at Digit is to simplify insurance and to create products that customers really need. CredR shares the same vision of offering solutions to customers that are relevant and that do not pinch their pockets. Also, right now the market for second-hand vehicles is growing at a huge pace where more people are interested in buying second-hand vehicles. Together with CredR we are happy to promote health insurance and offer relevant solutions to such customers."