Digit Insurance Launches a Cycle Insurance Product with Dr Cycle, Scott
Published On 18 Sep 2019 By Sakshi Aggarwal
A less than 2 years old general insurance company, Digit Insurance has introduced a cycle insurance product in partnership with Dr Cycle and Scott Sports India. Dr Cycle is an online platform that fulfils all your cycle requirements and Scott Sports India is a subsidiary of Scott Sports SA. Scott Sports SA is a Swiss producer of bicycles, motorsports gear, winter equipment, sportswear, and running gear.
Going by a press release, the policy provides coverage in India for new as well as old cycles, accidental damage and theft. The company provides full sum in the event of theft or total damage, after depreciation of the asset, and pays for the repair cost in case of partial loss.
Informing about the product, the Chairman of the insurance company, Kamesh Goyal 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 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, the Co-Founder and CEO of Dr Cycle shares that the government has made car insurance mandatory but the same is not applied to cyclists. The company’s motive behind introducing the product is to enhance the riding experience of a cyclist on road in India for which they have conceptualised and launched ‘Insure-your-Ride’ with Digit Insurance.
As per the Scott Sports India Country Manager Jaymin Shah, cycle insurance holds great importance considering the company’s super-premium bicycle category offered under Scott’s range of products and thus the cycle insurance becomes value addition in such a case. He believes that Digit’s product will be the perfect fit for Scott Sports as it will offer the customers a sense of comfort with wide coverage features and ease of use.