We all love to drive around in our swanky four-wheelers, but when it comes to the annual insurance; we take it only because of the “mandatory” tag attached to it by the regulators.

If we just cared a little more about our cars, it is possible to have more; to derive more from our car insurance policy and make the most of it. It would be great to have the philosophy of “Care More; Have More” in life, be made applicable to our car insurance too, so that we have a safe and secure drive.

Urging people to care more of their cars and thus go for an insurance policy tailored to their specific needs is what COCO by DHFL General Insurance does. A combination of two words, ‘Connected’ and ‘Cover’, it signifies the presence of insurance cover in today’s fast paced digitally connected world with just a few quick clicks on our computers or mobile phones.

With a total online process which provides complete transparency and eliminates the need for agents, COCO aims at making the entire process of purchasing an insurance policy as simple as possible by the use of high-end algorithms and AI technology.

Geared up after their two earlier successful launches, the Third Party Liability product for both two-wheelers and cars, and then a Two Wheeler Comprehensive Insurance Policy – COCORide, a third new product, India’s first customizable and  a-la-carte online car Insurance Policy – COCODrive was launched by the Company in the presence of bloggers and social media influencers in a highly charged event at their swanky corporate office, last Saturday.

Continuing in their zeal to provide vehicle owners a comprehensive insurance policy that can be tailored to suit their exact needs, COCODrive offers policyholders the highest number of add-on coverage options; a whopping choice of 19 add-on covers.

With add-on covers ranging from Zero-Depreciation, Key & Lock Replacement, Tyre Replacement, Engine-Protect, Consumables Cover, Roadside Assistance, New-Vehicle-For-Old and Enhanced PA Cover among several others, the policy allows customers to choose only those riders that are relevant to their specific needs rather than buying a bundled product thrust upon them with features which may be absolutely useless.

The EMI Protection and the Outstanding Loan Protection riders as add-ons ensure that apart from protection from accidental damage, the policy also cushions the policy holder or his family from the burden of repayment of the loan taken on the car. 

Explaining the vision of the Company and the features of the unique product, Mr. Vijay Sinha, MD and CEO of the Company explained that in response to the present needs of the customers to have enhanced customized insurance solutions, COCO has tried to combine technology, Artificial Intelligence, Machine Learning and Analytics to create yet another product which can be as unique for each customer as their individual perception and needs.

Redefining the way insurance Companies correspond with the customers, COCO seeks to understand the specific needs of each customer and thus effectively reinventing the insurance sector from a world where till now policies were not bought by customers but sold by insurers, to a world where it would be actively sought out and engaged in several interesting ways.

What make COCODrive score over its competitors are these few key stand-out features:

  1. Highest number of Add-on covers: When most insurers offer a maximum of 5-6 riders/add-ons, this policy offers a slew of 19 add-ons enabling the customer to opt for a coverage he may require depending upon the type of car, age of the car or place of residence.
  2. Country’s first a-la-carte motor insurance policy: The wide array of add-on covers enables the customer to customise his policy purchase rather than being burdened with a bundled policy with features not required.
  3. Higher PA Cover: Enhanced owner and occupant cover and paid driver personal accident cover are the unique features which provides an enhanced cover of up to INR 35 lakhs against the current mandate of INR 15 lakhs.
  4. Fully customizable and simple to purchase: The online chat feature when the customer logs in to the website enables one to have a guided ecommerce buying experience having all his queries answered to his satisfaction.

The website and the mobile application has various interesting inbuilt features which help the customers interact with the COCO platform, read the blogs, view info-graphics and enjoy videos while the AI and machine learning understands their needs and utilizes this information to provide a better customised insurance policy for them with hyper-localized and customized suggestions as well as content that is built around each person’s profile. 

When one claim can snatch away your entire No Claim Bonus (NCB), the NCB Secure rider ensures protection of the NCB in case of one claim during the policy tenure while the NCB Protect rider ensures that the NCB slab would not get impacted for claims if the policy holder chooses to repair and claim for non-metallic parts instead of replacement.

The event culminated with the unveiling and secret screening of the advertisement movie about the product which conveys beautifully that those who care more get more in life.

So go ahead and care a little more to have more in life and in your car insurance.  It is time to change as we all deserve a second chance.

It's only fair to share...
  • 6
  •  
  •  
  •  
  •  
  •  
    6
    Shares
Read More →
Replies: 0

Men may be from Mars and Women from Venus, but if we are offered to travel to space, it’s still scary. Space travel isn’t everyone’s cup of tea that requires putting one’s life in danger and hence needs ultimate protection for life.

Getting your life insured is perhaps the first and foremost way to get protected and this certainly is not rocket science. Perils and dangers aren’t just a part of outer space and is inherent in every walk of our life and hence getting a term insurance plan is imperative and yet as simple as your morning cup of tea.

To be safe and secure in every direction and space that our life tosses us in, we all need to provide protection in the form of insurance a chance to be our well-being spacesuit. A little financial and investment planning in this aspect is just what we would need to make informed decisions to help us in meeting our financial goals.

We may not be able to jettison out of a spacecraft, but term insurance does provide us the ideal parachute to protect the financial future of our family and loved ones in case of any unforeseen mishap during the course of our flight of life.

May not be a preventive measure and something which can stop an eventuality from happening, but insurance is surely a pure protection of the financial future of your kith and kin. A few points which we need to keep in mind while taking a term insurance plan.

Do I need it? We are earning an income which sustains our family and our lifestyle and we wouldn’t want our family to compromise on them in its absence. Or we may have various financial liabilities which we won’t want to fall on our family members in our absence. If our answer to any of these questions is in affirmative, we need a term insurance and do a favour to our family members.

How long should I pay? The money is needed by our family when our earnings stop or when the liability falls due. Hence, our insurance should at least cover our earning years, i.e. till our retirement age or till when we presume our liability to fall due.

When should I start paying? The advantage of term insurance plans is that the premium once committed remains the same throughout the plan term even though the risk increases as we grow older. Since starting early hence has the big advantage of having to pay lesser premium for the rest of the term, one should ideally start insuring as soon as one starts earning while assessing the needs periodically to keep adding the cover as may be needed.

Won’t I get any returns? A term insurance is designed to provide a pay-out only in case of the demise of the policy holder and hence it is certainly not an investment to give you regular returns. But that’s how it is priced too, being the cheapest insurance cover possible. Should that really be a dampener; isn’t not getting a pay-out yet means you are still alive and kicking, the biggest and the priciest of all returns?

Is it simple to understand? Unlike several other insurance and investment plans where you need to deal with crunching numbers, term insurance isn’t rocket science at all. With no need to sweat while dealing with financial plans, it is the simplest form of insurance. You know the amount you pay for the term you choose and you know the amount your family receives in case of your unfortunate demise.

With all said and done about basic term insurance plans, isn’t it smarter to have a life and health cover in one plan. iTerm Plus is a comprehensive online Term Insurance Plan from Aegon Life with a choice of four plan options which offer different in-built benefits like accidental death and 36 critical illnesses.

Definitely not rocket science, but if you still are one of those who have a plethora of questions on what insurance, tax savings and investment planning are all about, Aegon Life has an amazing e-learning initiative called iKnowledge where you can have access to a wide array of knowledge designed to cater to all your insurance needs at different life stages, thus helping you to make informed decisions and help you meet your financial goals.

Let’s secure our family’s financial future with Aegon Life Insurance. You don’t need to rocket travel to another plan(et); you just need to plan(it).

About Aegon Life:

With a complete product suite of life insurance plans, superior technology, and customised service, Aegon Life Insurance Company Limited launched its pan-India operations in July 2008. As a joint venture between Aegon – world’s leading financial services and Bennett, Coleman & Company – India’s leading media house, Aegon Life Insurance adopts a local approach to facilitate customer interaction. Our vision to be the most recommended new age life insurance company has enabled us to leverage digital platforms that bring transparent solutions to customer needs. Our financial planning and investment solutions include term life insurance plans, pension plans, unit-linked insurance plans (ULIPs), health insurance plans, child education plans, and more.

It's only fair to share...
  • 1
  •  
  •  
  •  
  •  
  •  
    1
    Share
Read More →
Replies: 1

Our car is no longer a luxury or a status symbol anymore. Having become an essential mode of travel and transportation, it is more of a necessity these days. Whether it is our daily travel to work or our weekend travel for leisure, whether it is to drop our kids to school or to go around for the daily errands, we invariably end up spending a reasonably important part of our daily time inside our cars.

Apart from the comfort that we expect when we sit inside our car, the most important factor that we worry about is our safety; the safety of people out on the roads and the safety of our vehicle too. In order to ensure that we always have a safe drive, it is necessary to have proper car insurance policy too.

It's only fair to share...
  •  
  •  
  •  
  •  
  •  
  •  
Read More →
Replies: 7