Royal Sundaram Launches Commercial Vehicles Insurance Online
• Company aims at enhancing customer convenience
• Online service offers buying fresh policy and also renewal of existing policy instantaneously
Chennai, January 28, 2013: Royal Sundaram Alliance Insurance Company Limited, in its endeavor to offer customer convenience, successfully launched its commercial vehicle insurance on the online platform. The service will enable customers to buy and renew service of Commercial Vehicle insurance onwww.royalsundaram.in
Commercial Vehicle insurance is a comprehensive package for taxi owners, fleet owners and likewise. It covers loss or damage to the customer’s vehicle (own damage) against insured perils and third party liability.
Company’s move will enhance the overall convenience and ease to the customers for their insurance needs. Mr. Ajay Bimbhet, Managing Director, said, “Transportation is an essential part of everyday’s life and even economy. Growing travel needs has offered increased thrust to industries like tourism and businesses like car rentals. The segment offers favorable opportunities and we look forward to tapping it. Further, to create a deeper customer connect and take our relationship with customers to next level, it is important to be available to them instantaneously. Online medium bridges the physical barrier and has been an efficient channel for us. This facility also enables customers to buy and renew policies 24x7.”
Commercial Vehicle insurance is designed specially to protect vehicles that are not used for personal purpose. The vehicles covered under this policy include Taxies with a maximum seating capacity of 7.
Key Features of the policy:
- Cover available for vehicles up to 5 years of age and pan India.
- It covers losses and damages caused by fire and allied perils including burglary & theft or breaking, riots, terrorism, strikes etc, and liability to third parties.
- Covers loss of or damage to the vehicle insured due to accident.
- Indemnity for third party property damage up to a maximum limit of Rs. 7.5 lakhs. Unlimited Liability for Third Party death/Injury claims, arising out of the operation of the insured vehicle.
- Inbuilt Personal Accident cover to insured in case of an individual and optional Personal Accident cover for paid driver.
- Cover taxies registered anywhere in India and plying within India.
About Royal Sundaram
Royal Sundaram Alliance Insurance Company Limited is a joint venture between Sundaram Finance and Royal & Sun Alliance Insurance plc, UK, where the former holds 74% and the latter holds 26% of the equity. Royal Sundaram is the first private non-life Insurance Company licensed to operate in India.
Royal Sundaram offers a range of innovative general Insurance products which includes Motor, Health, Personal Accident, Home and Travel Insurance for individual customers. The Company’s Accident & Health claims process received ISO 9001-2008 certification for effective customer service delivery. For Commercial clients, Royal Sundaram offers a wide range of specialised insurance covers in Fire, Marine, Engineering, Liability and Business Interruption risks. Royal Sundaram also offers specially designed products to the Small and Medium enterprises and Rural customers. Royal Sundaram currently has over 5 million customers, 1700 employees and its products are distributed in over 180 cities across India, through Agents, Distribution Partners, Affinity Partners and Brokers.
About Sundaram Finance
Sundaram Finance, a Non-Banking Finance Company, is one of the most respected financial services companies in India. It finances the entire range of commercial vehicles, passenger cars, construction equipment & tractors. The Group's operations also extend to Insurance, Asset Management, Home loans, Business Process outsourcing and Infotech Solutions. Sundaram Finance has a Nationwide presence with over 500 branches and over half a million customers and depositors who are serviced by over 4000 employees.
With a 300 year heritage, RSA is one of the world’s leading multinational quoted insurance groups. It has the capability to write business in around 140 countries and major operations in the UK, Ireland, Scandinavia, Central and Eastern Europe, Canada, Asia, the Middle East and Latin America. Focusing on general insurance, it has around 23,000 employees and, in 2011, its net written premiums were £8.1 billion.
For further information:
Royal Sundaram Alliance Insurance Company Ltd.