Key Highlights:

 App-based Motor OD floater policy – Available on iOS and Android
 Driver-based policy that allows a user to simply SWITCH the Insurance ON and OFF, as per requirement
 Covers multiple drivers and multiple vehicles under a single policy

Mumbai, May 21, 2020 (GPN): Edelweiss General Insurance (EGI), India’s first cloud native insurer, has launched an innovative, app-based Motor OD floater policy, under IRDAI’s Regulatory Sandbox. Edelweiss Switch is a driver-based policy that allows a user switch insurance on and off, as per requirement and covers multiple vehicles under one policy.

Edelweiss SWITCH is a driver-based insurance policy that can be easily purchased online at edelweissinsurance.com and activated by simply downloading the app through Google Play/ iOS App stores. It is an easy, simple and convenient solution for the digitally savvy customers seeking quick and hassle-free solutions and offers a whole new way of protecting your car or bike or scooter! An end to end app-based motor insurance, Edelweiss SWITCH allows you to pay your premium, that too monthly and only for the days you use your vehicle!

Shanai Ghosh, ED & CEO, Edelweiss General Insurance, said, “Edelweiss General Insurance is a cloud native organization with a digital operating model with a focus on providing simple and innovative solutions that provide tangible value to customers. We have always leveraged technology to help us deliver excellence in product, service and distribution. We have adopted the lens of evolving customer needs and experiences, rather than the traditional product-centric approach, for enhanced customer experience. Edelweiss SWITCH is our latest endeavour in this direction.”

With Edelweiss SWITCH, customers can use the app to switch their insurance cover ‘ON’ and ‘OFF’, paying only for the time when it’s ‘ON’. Quite simply, its #DontUseDontPay. This will mean lower premiums for policyholders who own one or more than one vehicle. Further, as the policy covers multiple vehicles in one, there is significant cost saving and convenience. This product has been developed with the specific needs of today’s customer in mind. So, while accidental damage is covered when the policy is switched on, the vehicles are still covered 24/7/365 against fire and theft even when the insurance is switched ‘OFF’. ENDS

About Edelweiss General Insurance
Edelweiss General Insurance (EGI) is the first cloud native insurer, which started its operations in February 2018, with a digital operating platform and a clear intent and focus to transform customer experience in its category of play. It is also the first insurer to implement the entire SAP insurance suite in India, creating an integrated, robust, scalable and microservices-based, API driven architecture. The company aims to create simple, yet compelling products accompanied with meaningful services that offer contextual value to the customer. Consumer insight driven strategy coupled with technology-powered execution engine allows them to differentiate themselves in a competitive market. The company is exploring new-age paradigms like design thinking and gamification and exponential technologies like AI/ML, Big data analytics to create new products and experiences making the customer journey simpler, faster and more transparent.