Country's second largest two wheeler player Honda Motorcycle and Scooter India (HMSI) has entered into insurer HDFC Ergo to offer insurance for its two wheelers.
"The two-wheeler insurance segment is rapidly evolving with renewals and multi-year policies on the rise. This is truly a win-win situation for our customers who will get 40 per cent saving on their insurance premium (own-damage) and near cashless claim settlement with the convenient digital interface," said Y S Guleria, senior Vice President (sales and marketing) at HMSI.
The alliance will provide for a comprehensive two-wheeler insurance cover to all customers of HMSI and near cashless repairs at over 4,650 sales outlet of the Japanese auto major. It promises to offer a fast turnaround time of three days for settlement of claims. Guleria said the coverage of insurance in two wheelers is low and falls drastically after the first year.