Buying a car in India is a familial decision and since it is a hefty financial investment for most people, they want to ensure that their selection is flawless. But, when it comes to car insurance in India, most car-owners don’t spare a thought. Getting the right car insurance policy is crucial for making successful claims. The Insurance Head of Volkswagen Financial Services, Mr. Abhai Mirakhur, gave us an insight about Volkswagen Financial Services Insurance and its comprehensive structure.
Designing an Insurance Product
Mr. Mirakhur explained to us, the factors that are kept in mind while designing an insurance product. That included taking feedback from the after-sales people at workshop level as well as brands. They develop the product basis on what kind of claims they get apart from manufacturing defects, minutely assessing each complaint leading to high customer satisfaction.
Products & Brand Responsibility
The two main products of Volkswagen Financial Services Insurance, as told by Mr. Mirakhur, are Drive Assure Economy and Drive Assure Elite. Drive Assure Economy covers Zero Depreciation and Engine Protector whereas Drive Assure Elite looks into a broader perspective like replacement of car, tyre and rim damage, fuel adulteration, etc. None of these services are sold as standalone, eliminating all possibilities of a misselling. Volkswagen Financial Services through their Insurance partners also offers 24 hour claim service and has introduced a branded call centre – a first in India – to provide customers with a comfortable experience. It also maintains an in-house call centre. Volkswagen Financial Services, in its entirety, also reaches out to its customers during tough times and offers assistance, personally. For example, during the Chennai and Mumbai floods, Volkswagen Financial Services sent out SMS’s to its customers with tips and precautions to be taken at this time and a helpline number for assistance. He mentioned it was a routine and proactive approach from their side.
Process of Registering a Claim
He explained to us the process of registering a claim and informed us that 99% claims are registered with the dealer workshop. As soon as a car breaks down, the customer takes it to the dealer and they assist the customer to register the claim with Insurer. The insurance company then contacts the customer for further assistance. A new system is soon going to take the place of this process, wherein an online registration of the claim thru an app will be done. A video of the damaged part of a car can be sent to the insurance company or the car can be taken to the workshop where a professional can take the video and through a live chat, the surveyor will assess and approve the claim.
Customization of Plans
Due to the new regulation by IRDAI, all information has to get uploaded in the system. Any customer can be tracked by his previous record. Similar to CIBIL for finance sector, insurance will also have a similar term. He also informed us that the credit score plays a major role in checking how good or bad the customer’s standing is. Frequency, rather than claim amount, determines the standing of a customer.
Volkswagen Financial Services offers customizable plans for our range of offerings, depending upon the premium amount. A customer can choose to opt out of add-on products to reduce the premium, and vice versa. Throughout the entire process of finalization, Volkswagen Financial Services remains thoroughly transparent about its operations, making it a preferred choice for all buyers.
And hence, Volkswagen Financial Services should remain your Insurance partner at all times!