Royal Sundaram Launches Two Wheeler Insurance for Online Customers

MUMBAI, March 7, 2016 /PRNewswire/ --

Royal Sundaram General Insurance launched two wheeler insurance policy offering comprehensive coverage for two wheelers including accessories, damage to third party property and life. Under the policy, customers will be able to buy their two wheeler insurance or renew their existing two wheeler policy online. Customers can also avail eligible No Claim Bonus (NCB) for claim-free years and this can be freely shifted when the policyholder moves the policy to Royal Sundaram.

Other features of the policy include unlimited liability for third party death/injury claims and indemnity for third party property damage up to a limit of Rs. 1 lakh. The policy also offers personal accident cover up to Rs. 1 lakh at an additional premium.

Commenting on the launch of the new policy, M.S. Sreedhar, Managing Director & CEO, Royal Sundaram General Insurance Company Limited, said, "The youth in India demands speed, efficiency and uninterrupted access to service. India is also among the leading markets for two wheelers in the world as well as the fastest growing in terms of Internet penetration. We feel our latest product emanates out of this unique opportunity." 

Sreedhar further added, "It is mandatory by law that every two wheeler has an insurance cover as is the case with four wheelers. The extent of uninsured vehicles is a serious cause of concern for the industry. Many a time, customers omit to renew their policies on time and it remains uninsured and uncovered for third party claims as well. Using our online portal, customers will be able to buy or renew their desired policy at their convenience anywhere, anytime."

Key Features of the Policy: 

• Unlimited liability for death/injury claims in case of an accident by or from the use of two wheeler.
• Members of Automobile Association of India will get up to 5% discount on the own damage premium or a maximum of Rs. 50.
• Transfer of No Claim Bonus (NCB) from other insurance company on renewal with Royal Sundaram's two wheeler insurance policy online.
• The company offers inbuilt Personal Accident cover to owner driver, as mandated by the tariff at a nominal premium of Rs. 50/- and it offers an optional Personal Accident cover to the pillion rider for a nominal additional premium.
• The company enables customers get an instant two wheeler insurance quote. Also, customers can call dedicated insurance advisors for help on 1860 425 0000.

About Royal Sundaram General Insurance Co. Limited: 

Royal Sundaram General Insurance Co. Limited (formerly known as Royal Sundaram Alliance Insurance Company Limited), a subsidiary of Sundaram Finance, is the first private sector general insurance company in India to be licensed in October 2000 by the Insurance Regulatory and Development Authority of India. The company was initially promoted as a joint venture between Sundaram Finance, one of the most respected non-banking financial institutions (NBFCs) in India and Royal & SunAlliance Insurance plc, UK, one of the oldest general insurers in the UK. In July 2015, Sundaram Finance acquired the 26% equity holding from Royal & SunAlliance Insurance plc. Consequently, the entire 100% equity holding in Royal Sundaram is now held by Sundaram Finance (75.90%) and other Indian Shareholders (24.10%).

Royal Sundaram has been providing innovative general insurance solutions to individuals, families and businesses directly as well as through its intermediaries and affinity partners. The company offers Motor, Health, Personal Accident, Home and Travel Insurance to individual customers and offers specialised insurance products in Fire, Marine, Engineering, Liability and Business Interruption risks to commercial customers. Royal Sundaram also offers specially designed products to the small and medium enterprises and rural customers as well. The company is a pioneer in bancassurance in India, having long-standing tie-ups with reputed banks and NBFCs. Currently, Royal Sundaram has over 5.20 million customers, 1700 employees and its products are distributed in over 115 cities across India, through agents, distribution partners, affinity partners and brokers.

Media Contact: 
Vidya Vijayragvan
[email protected]
+91-98412 05533
Marketing and Communications
Royal Sundaram General Insurance