Edelweiss General Insurance becomes Zuno General Insurance

As part of a re-branding exercise moving forward, Edelweiss General Insurance has announced its new business identity as Zuno General Insurance Limited (Zuno GI).

Autocar Pro News Desk By Autocar Pro News Desk calendar 06 Feb 2023 Views icon40302 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

Five-year-old Edelweiss General Insurance is among one the disruptors in the insurance business in India that has successfully marketed its business using digital apps and attempting to make the transaction hassle-free.  

The new chapter for the company that begins with Zuno GI will see the new age digital insurer move forward with an aspiration to reimagine and redefine Insurance to make it easy, friendly, and transparent. It is built on the premise that any kind of general insurance should be simple, easy, and straightforward.

At the re-branding launch, Shanai Ghosh, MD & CEO, Zuno General Insurance, said, “Zuno GI is all about reimagining Insurance to make it easy, transparent, and friendly using three pillars of customer experience, innovation, and digital delivery platforms. We will always listen to our customers and offer them smart, simple solutions in the most convenient and hassle-free way. We put this aim to action with the UBI report where we sought to assess the understanding and perception of UBI among young, mobile savvy Indian customers. The findings have been extremely insightful and has validated our conviction about the potential of UBI in India, encouraging us to continue investing in this category that we pioneered in 2020.” 

The name brings alive the company’s passion, enthusiasm, and singular focus on providing customers with the most convenient and hassle-free experience powered by tech that’s responsive and intuitive. The name and identity represents the young, innovative, approachable, digital native and upbeat personality of the brand and resonates with the Millennial and GenZ audience.

Speaking at the launch, Shanai Ghosh, MD & CEO, Zuno General Insurance, said, “Zuno GI is all about reimagining Insurance to make it easy, transparent, and friendly using three pillars of customer experience, innovation, and digital delivery platforms. We will always listen to our customers and offer them smart, simple solutions in the most convenient and hassle-free way. We put this aim to action with the UBI report where we sought to assess the understanding and perception of UBI among young, mobile savvy Indian customers. The findings have been extremely insightful and has validated our conviction about the potential of Usage Based Insurance (UBI) in India, encouraging us to continue investing in this category that we pioneered in 2020.”

Along with the new identity, the company has launched a consumer study titled ‘Usage Based Insurance: Decoding Awareness, Perception and Behaviour’. The study was done to understand Millennial and GenZ’s awareness, understanding and consideration for UBI. Zuno General Insurance has been fore fronting the concept of usage-based insurance (UBI) in India for almost three years now.

In 2022, the company launched SWITCH, India’s first mobile telematics based, on-demand motor insurance product. The policy is an app that shows customers the savings that is accumulating because of good driving for every drive.

Zuno GI has also announced the introduction of Switch 2.0, the next generation of its user-friendly mobile app that will be linked to the insurance policy. The app will monitor driver behaviour and offer ratings on various driving parameters. While keeping the data private of the user, the software encourages people to become safer drivers which is good for their own safety, their family and overall, for the society.

“Telematics is a silver lining for the motor insurance industry in India. It allows us to offer personalised solutions and experience to our customers. Given the exponential growth of smartphone users in the country, telematics-based solutions will appeal to the digital natives, empowering them to see and influence the pricing they get on Motor Insurance. With the findings of the report, we wish to drive awareness of new concepts like UBI which will not only link premium to your usage and driving but also encourage safe driving practices in the country,” Ghosh added.

Zuno General Insurance conducted the survey in eight cities - Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, and Ahmedabad, in collaboration with Crownit.

Key highlights of the research:

  • 65% respondents feel that people in India are safe drivers.
  • 90% respondents want to get a driving score that indicates how safe they drive.
  • 58% respondents are aware of usage-based insurance.
  • 70% respondents have strong intention to buy usage-based insurance over other insurance options.
  • Rewards for safe driving’ & ‘Driving score’ are the top two influential factors to opt for usage-based insurance.
  • 76% respondents strongly believe that getting a driving score will help improve their driving skills.
  • 95% respondents believe rewarding safe driving will positively influence driving behavior.
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