Reported by: banking|Updated: June 16, 2017
Universal Sompo General Insurance has launched a new motor product offering – Two-wheeler Long Term Package Policy – for existing and prospective two-wheeler vehicle customers. The policy offers comprehensive protection for ride up to 2-3 years. Customers can buy the policy for up to 2 or 3 years, by paying the premium once during the inception of the long-term policy and also enjoy additional benefits while renewing the long-term policy for another long-term tenure. The unique selling proposition of the policy is the dual ‘No Claim Bonus’ benefit that is being extended to customers at the time of renewing the long-term two-wheeler policy of the company. The company is offering discount benefits at the time of choosing to buy the policy as well as during the renewal of the policy, which makes the policy more economical. Rajiv Kumar, MD & CEO of the company, said considering the abysmal figures of uninsured two-wheeler vehicle plying in India and the rise of road mishaps and vehicle thefts taking place, it is the need of the hour to extend a product that provides holistic and long-term protection cover for customers towards any financial expenses and liabilities caused due to any adverse incident by the insured vehicle.