NEW DELHI: Launching today, ETInsure.com, an online insurance platform, makes it simple for anyone to buy the best insurance plan by providing a transparent and easy-to-understand buying experience. Starting with car and two-wheeler insurance, it will offer insurance plans from seven popular insurance companies.
“The launch of ETInsure.com is in line with our mission to simplify the financial journey of consumers in India. Insurance is a critical part of this mission as the current experience of buying and owning an insurance policy is cumbersome and riddled with rampant miss-selling from pushy sales agents,” said Mukesh Kalra, who is leading Times Internet’s foray in fintech.
Designed as a mobile responsive website, ETInsure. com provides a seamless experience — whether you are in front of a desktop or on your mobile. You can buy the policy without any paperwork. The policy is issued instantly and the coverage starts within minutes.
DATA-LED SUGGESTIONS TO HELP BUY RIGHT POLICY By talking to more than 100+ consumers, ETInsure team found that while buying a car or two-wheeler insurance, consumers mostly buy products with lowest premiums, ignoring the fact that lowest priced plans would usually put a very low value to their vehicle. This meant consumers are under-covered and they do not even realise it until they make their first claims.
ETInsure.com solves this problem by giving a suggested value of the vehicle which takes into account multiple data points such as the age of the vehicle, buyer preferences, number of quotes and competitive prices. Consumers can then customise their quotes with a single click to get the best policy with suitable coverage.
In addition to this, consumers also get data-led suggestions on the type of add-ons they should attach to their policy, which can increase their coverage at a very nominal cost.
DECODING THE FINE PRINT
Another important aspect is the fine print and complex wordings of the policy document, which intimidates most people. ETInsure.com digitally decodes the terms and conditions of every policy and presents them in simple visuals and easy-tounderstand language bringing the much needed clarity. This provides the required confidence to consumers, making the buying experience more positive and worry-free.
Further, once bought, there is an expert team to help the consumer during claim settlements. “We have redesigned and re-engineered the entire insurance stack from the ground up. We are excited to empower our consumers to make informed decisions about their insurance needs, so that they feel positive about their future — as they are well-covered,” said Shankar Nath, principal officer & head, ETInsure.com
Launching with car and two-wheeler insurance, ETInsure.com will soon add health, life and travel insurance products to its online platform.