In a significant development, notable financial and insurance players have come together to undersign a novel agreement to render redesigned insurance assistance, expanding coverage features.
This rightly explains the recent collaboration between Edelweiss General Insurance and Policy Bazaar. The recent collaboration is expected to present a novel and improved motor insurance program under the brand Edelweiss SWITCH that is designed to offer advanced on-demand driver insurance program which is designed for app-based access to enable seamless access. This app has been designed in thorough compliance with Motor OD policy.
The newly added motor insurance policy by Edelweiss in conjunction with PolicyBazaar grants customers the unique flexibility to keep their insurance policy operational and dormant based on use, covering multiple vehicles under the same ownership and singular policy.
The latest development accrues with the needs of motor insurance plans and diversify digital reach. In the words of Edelweiss CEO, the partnership is a high value addition to their strategic business discretion, allowing the company to align with PolicyBazaar, thus systematically diversifying the former's clientele.
The policy is highly desirable and meets accurately the millennial policy holders' tailor-made needs encompassing customers' regular or occasional driving sprees.
The new program, SWITCH has been made available on PolicyBazaar website and offers great opportunity to enable customer diversification. The new application is expected to render a pay-as-you use-and-go model to allow policy holders diversify their services to accurately align with optimum savings, unlike conventional programs that offered no flexibility.
Other features also offer users the unique flexibility of multivehicle policy that enables policy calculation on the basis of age and work experience of the people behind the steering wheel.
So, in essence, the user needs to make the payment only when he uses the vehicle and the payment model necessitates an upfront initial payment of certain fixed amount, whereas the remaining money could be paid on instalment basis.