Digit Insurance launches Cycle Insurance with Dr. Cycle and SCOTT Sports
Bengaluru, 29thJanuary, 2019: Digit Insurance—a new age insurance company which aims to 'Make Insurance Simple'— has launched acycle insurance product with Dr. Cycle, an online platform for all cycling needs, and SCOTT Sports India, a subsidiary of Scott Sports SA, is a Swiss producer of bicycles, winter equipment, motorsports gear, running gear and sportswear.
Key Product Highlights:
- Covers both old and new cycles
- Covers theft and accidental damage
- Free look period
- Coverage is within India Only
- In case of thefts or total damage, Digit will pay the full amount after depreciation
- In case of partial loss, Digit will pay for the cost of repair
Speaking about the product, Kamesh Goyal, Chairman, Digit said, 'Indians are becoming health conscious and activities like cycling are no more just a hobby but also a lifestyle habit. But when it comes to protecting your cycle, one of the biggest issues is the lack of awareness about an insurance that can cover the cycle. As our distribution philosophy is to be present where there is a need for protection, we thought tie-ups with bicycle manufacturers and sellers would help create that awareness amongst cyclists as well as help us tap into an already established customer base.'
Yogesh Chauhan, CEO and Co-Founder of Dr. Cycle, said, 'While the government mandates car insurance, the same doesn't apply to cyclists sharing that road. As part of our vision to maximize the cycling experience for an Indian cyclist, we wanted to offer a comprehensive insurance; and that is when we and conceptualized and launched 'Insure-your-Ride' with Digit Insurance. '
Jaymin Shah, Country Manager, Scott Sports India Pvt. Ltd., said 'SCOTT's range of products represent the super-premium bicycle category and thus insurance becomes an essential value addition for our consumers, giving them a sense of comfort as part of the buying experience. Ease of use and wide coverage were imperative factors for us, and that's where Digit's product was the right fit for SCOTT Sports.'