Digit Insurance, CredR Join Hands to Offer Health Insurance to Owners of Used Two-wheeler Vehicles Under the partnership, CredR customers will be offered affordable accidental insurance cover or loss of pay arising out of road accidents
By Shipra Singh •
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
CredR, the omnichannel platform for to buy and sell used two-wheeler vehicles, has tied up with digit Insurance to offer health insurance cover second hand vehicle owners.
Under this partnership, CredR customers will be offered affordable accidental insurance cover or loss of pay arising out of road accidents.
The user will pay a premium of INR 525, inclusive of GST, in order to avail the benefit of INR 5,000 per week or actual weekly salary, whichever is lower, up to 100 weeks. The health pack will cover any accidental bodily injury, which completely prevents the insured person from performing duties related to their employment or occupation on a temporary basis.
Commenting on the partnership, 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".
Founded in 2015, CredR is the only omnichannel consumer brand for buying and selling used two-wheelers. The company operates largest chain of CredR branded retail showrooms across major cities like Pune, Bengaluru, Delhi NCR, Jaipur, Kota, and Hyderabad through the franchise model. These showrooms offer customers with a wide range of used refurbished two-wheelers at the best prices.
CredR is backed by marquee blue-chip funds, such as Eight Road Ventures (Fidelity's proprietary investment arm), Omidyar Network, AngelList, K Ganesh (GrowthStory) and angel investors like Amit Agarwal (CEO, Amazon India), Rohit Bansal, Kunal Bahl, Sameer Sawhney and Deb.
This arrangement is done under a voluntary group insurance policy issued by Digit to CredR, as per the official statement. This insurance will be made available to all customers who purchase a used two-wheeler from CredR.
"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," Jasleen Kohli, Chief Distribution Officer, Digit Insurance.
