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Bharti AXA General Insurance

Add-on Covers

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Agenda

Add-on covers

Why Add-ons ???

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Win-Win situation for all

• Address specific customer needs

• Flexibility to customer to add value to existing coverage

• Complete coverage ~ less hidden out-of-pocket expenses

• Lifestyle & convenience with Security

• Increase ticket size, increase top line

• Flexibility to differentiate its product from competitors

• Increase profitability

• Increase loyalty/ renewal and customer base

• Increase ticket size ~ increase commission

• Increase loyalty, easy renewals and increase in customer retention YOY

• Overall development of all sectors related to insurance like Manufacturers, Garages, Surveyors, Assistance service providers, medical service providers, IT solutions etc…

Customer Insurance company

Agent & IMDsOther Third parties

Add-on Covers

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No Claim Bonus Protection cover

No Claim Bonus Protection cover - Same Slab Cover

Company would assign same slab of NO CLAIM BONUS percentage even if there are upto 2 claim made during the policy period in consideration of the payment of an additional premium.

EX:- Mr. Suresh buys his Motor insurance Comprehensive policy for his Vehicle Maruti Swift (2008 model) with Bharti Axa GIC with NCB protect Same Slab cover for the period of 01-01-2012 to 31-12-2012 and he is enjoying 35% NCB,

“Mr. Suresh meets with an accident on 01/06/2012” Since he has also taken NCB protection Same slab add on

cover along with comprehensive cover, he still enjoys 35% NCB on the renewal and saves premium on renewal.

No Claim Bonus Protection Cover – Same Slab Cover

Guidelines

The No Claim Bonus will get reduced to NIL in case of more than two claim during the policy period.

Subject to No Claim Bonus confirmation from the previous insurer in case of Declarations by Insured.

Applicable to Private Car policies alone, with Comprehensive coverage only.

Exclusion The cover will cease to operate after two claim wherein the

claim is not admissible. In case of transfer of ownership the cover will cease with

effective date of endorsement.

No Claim Bonus Protection cover - One slab down cover

EX:- Mr. Suresh buys his Motor insurance Comprehensive policy for his Vehicle Maruti Swift (2008 model) with Bharti Axa GIC with NCB protect Same Slab cover for the period of 01-01-2012 to 31-12-2012 and he is enjoying 35% NCB,

“Mr. Suresh meets with an accident on 01/06/2012”

Since he has also taken NCB protection One slab down add on cover along with comprehensive cover, he still enjoys 25% NCB on the renewal and saves premium on renewal.

Company would assign NO CLAIM BONUS percentage which is one slab lower than the No claim percentage mentioned in the policy even if there are upto 2 claims made during the policy period in consideration of the payment of an additional premium.

No Claim Bonus Protection cover- One slab down cover

Guidelines

The No Claim Bonus will get reduced to NIL in case of more than two claim during the policy period.

Subject to No Claim Bonus confirmation from the previous insurer in case of Declarations by Insured.

Applicable to Private Car policies alone, with Comprehensive coverage only.

Exclusions The cover will cease to operate after two claim wherein the

claim is not admissible. In case of transfer of ownership the cover will cease with

effective date of endorsement.

No Claim Bonus Protection Cover- Same Slab Cover

Note: If insured opt for NCB protect cover and make a claim during the year, the NCB protect cover will come in picture only if policy renewed with Bharti Axa GIC only.

What is the need? Even if customer claims only once in 5 years he misses out on

complete NCB discount at one go.

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Add-on Covers

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Outstanding Loan Cover

Outstanding Loan Cover – Private

Company agrees to pay the total Outstanding Loan amount on the vehicle insured as mentioned in the policy schedule or actual amount outstanding at the time of claim whichever is lower, if the insured of the vehicle dies to due to bodily injury caused by accidental, external, violent and visible means while travelling in, embarking or disembarking from the insured vehicle during the policy period as mentioned in the schedule for which a valid claim under the policy is admissible.

Outstanding Loan Cover - Private

What is the need?In case of accidental death loan (if vehicle is

purchased under loan) remains unpaid rising to the economic uncertainty to the family.

Car can be still owned by insured’s family since the outstanding loan borne by company.

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Load Transfer Cover – Goods Carrying Vehicles

Company agrees to pay the amount as mentioned in the schedule incurred by the insured towards unloading of goods from insured vehicle and loading them to an alternate vehicle, incase insured vehicle not in condition to carry goods post accidental damage.

Load transfer Cover- Goods carrying vehicle

What is the need?Customer incurs expense to unload and load to

another vehicle in case the insured vehicle gets damaged due to accident

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Equal Monthly Installment cover – Commercial vehicles (All Classes) Company agreed to pay the Monthly installment amount to

insured as mentioned in the policy schedule or at the time claim which ever is lower, if the vehicle insured is kept by our Authorised garage for accidental repairs for more than 30 days.

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Thank You