COCO by DHFL General Insurance is here to transform the “Sold, Not Bought” aspect of Insurance.

Students studying in the field of Insurance are practised to believe in the thought process of “Insurance is Sold and Not Bought”. This is even considered as conventional wisdom for veterans working in the insurance industry. Many people claim that insurance products are complex, easily misunderstood, need a detailed analysis to be underwritten, and therefore have to be “sold” to customers. But for how long? With the advent of technology, InsureTech firms are here to demystify the age-old concept of “Sold, Not Bought”. Insurance companies are not just going to B2C but the customer too is keen for best value offering.

In the age of where everything is going digital, insurance companies are offering new products through the digital ecosystem. The key advantages for consumers choosing digital insurers are product choice, transparency, direct point of contact etc. COCO by DHFL General Insurance believes in the Philosophy of Connected Covers – a policy which can be bought, reviewed, claimed and renewed, all online in the digital ecosystem with the help of next-gen techs like Artificial Intelligence and Machine Learning.

COCODrive offers India’s highest Personal Accident Cover

COCO by DHFL General Insurance has launched India’s first customizable online comprehensive car insurance policy named COCODrive. Gone are the days when consumers were forced to buy unwanted services in bundled insurance policies. Busting traditional routes, COCODrive gives freedom to customers to choose from whopping 19 add-ons depending upon the type of car, the age of a car or geographical area.

The a`la carte approach in the COCODrive policy provides suggestions to customers that will help them pick the right add-ons suitable for their need. COCO by DHFL General Insurance ensures that customers have the right protection for themselves, their loved ones and of course their family car.

COCODrive offers India’s highest personal accident cover which can go up to Rs 35 lakhs. The policy offers many non-standard add-ons such as enhanced owner, occupant and paid driver personal accident cover. While the recent Supreme Court decision mandates personal accident cover of Rs 15 lakhs, COCODrive is the only product in the market to offer an enhanced personal accident cover that can go as high as Rs 35 lakh.

Protecting your loved ones: Family + Car.

Choose what you want! COCODrive offers a range of crucial add-ons for you, your loved ones and your car. COCO by DHFL General Insurance offers 6 car related add-ons out of a total number of 19 add-ons, which is the highest in the market.

Using a car which is older than 5 years, then you should buy Zero Dep cover as it fully pays the replacement cost of your car’s damaged parts without worrying for depreciation. If you live in monsoon prone areas like Mumbai, Bangalore, Kerala or North East which face excessive floods every year. The Engine Protect add-on cover pays for damages caused to the vehicle’s engine or its most important parts like cylinder, piston, crankshaft, pins, gearbox etc due to water ingression. Flood related damages are excluded in the standard motor insurance policy and it is essential to buy if you live in low lying areas. Also, car owners should avoid parking your car in the flood prone areas or over a river bridge during monsoon. A car fully submerged under water can result in a total loss. In such unfortunate case, New Car for Old Car add-on can get you a claim worth the cost of the new vehicle at just Rs 0.50 per day.

In case of a vehicle breakdown or meeting with an accident, the Roadside Assistance offers a host of benefits including towing, battery jump start, phone assistance etc. Data analytics suggests that 80% of breakdowns or accidents happen on National Highway, far from the city. In such case, if your vehicle can’t be repaired on spot, the Emergency Transport and Hotel Stay add-on covers for your last minute travelling charges or an overnight hotel stay. Accidents generally end up in a need to go to the hospital, although we dislike it. The Accident Hospitalisation add-on will ensure that the cost of medical expenses (driver and occupants) do not add to your pain.

COCODrive rewards you for Safe Driving with No Claim Bonus (NCB) which can go high as 50% of the policy value. The NCB Secure add-on allows you to have Second Chance by protecting your NCB in case you make 1 claim during your policy tenure.

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COCO by DHFL General Insurance Ltd is a new age InsureTech (general insurance venture) promoted by Wadhawan Global Capital Pvt Ltd (WGC).  COCO by DHFL General Insurance, a 100%  owned entity of WGC started its business operations in November 2017 with an overreaching ambition to transform General Insurance domain in India. COCO has launched Motor Insurance and is soon going to venture into other General Insurance segments namely Health, Travel, and Home. COCO, the digital avatar of DHFL General Insurance was awarded for ‘Brand Excellence in BFSI’ at Awards for Excellence in Branding and Marketing, Singapore 2018. The Gross Written Premium for YTD FY 201819 stood at Rs 202.71 crores, making COCO by DHFL General Insurance a leading InsureTech firm to service Indians.

- Chaitanya Kulkarni.