How to get started
· Download the Kotak Meter App from App Store or Play Store
· Onboarding the customer by filling in personal information, including KYC
· Once the policy starts, vehicle owners can use the Switch On and Off option based on the usage of the car
· If the app remains inactive (Switch Off) for a continuous period of 24 hours, the customer will earn one day as reward
· For every multiple period of 24 hours thereof, the customer would earn multiple ‘reward days’
· At the end of the policy term, customers can either earn up to 40% cash back for unused days of the vehicle or discount on renewal premium
Click here for the Demo Video:https://www.youtube.com/watch?v=n7VbFhx6hZo
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Suresh Agarwal, Managing Director and CEO, Kotak General Insurance Company Limited said, “Demand for need based insurance cover has been on a rise particularly post Covid. With hybrid and work from home policies coupled with higher fuel prices and increasing inflation has witnessed a change in driving preferences by most vehicle owners. This drove us to bring out a customer friendly Switch On and Off feature as an add-on on our car insurance policy. With the new tech-enabled insurance policy ‘Meter’ we want to treat all customers fairly and reward those customers who drive less. This we think will help in customer retention as well as help understand and serve our customers better following their driving behaviour.”