2 weeks ago
Bajaj General Insurance launches ProShield, VPAY 2.0 motor insurance offerings
An insurance company in India called Bajaj General Insurance has made two new car insurance products.
One product is called ProShield, and it is specially made for people in the defence forces, like soldiers.
Soldiers often move to new places, so ProShield helps protect their cars when they travel between postings.
It also helps if they lose important car papers, like their driving licence, and covers things like missed flights if there is an accident on the way to the airport.
The other product is called VPAY 2.0, and it is for modern cars that are connected to the internet and have lots of technology.
It protects against new risks, like cyber attacks on cars, and even helps fix batteries in electric and hybrid vehicles.
Customers can pick from three versions: Prime, Classic, and Elite.
The company's leader, Dr. Tapan Singhel, said cars and the way people move around are changing.
So the company wants to make insurance that fits how people travel today.
Bajaj General Insurance Limited launched ProShield, a packaged motor insurance solution designed specifically for defence personnel.
The company also introduced VPAY 2.0, a next-generation motor insurance offering available in Prime, Classic and Elite variants.
ProShield features vehicle relocation protection, travel emergency protection, document loss protection and access to a network of more than 7,300 garages.
VPAY 2.0 covers cyber incidents on connected vehicles, fuel adulteration, mechanical and electrical breakdowns, ADAS recalibration and traction battery replacement for electric and hybrid vehicles.
MD & CEO Dr. Tapan Singhel said the two offerings reflect understanding of how mobility is changing and respond to customer needs with greater relevance and purpose.
- Who
- Bajaj General Insurance Limited (formerly Bajaj Allianz General Insurance Company Limited), led by MD & CEO Dr. Tapan Singhel
- What
- Launched two motor insurance offerings: ProShield for defence personnel and the enhanced VPAY 2.0 for connected, technology-driven vehicles
- Where
- Pune, Maharashtra, India
- When
- August 13
- Why
- To address the unique challenges of defence life, such as frequent relocations and extended family separation, and evolving mobility risks from connected vehicles and changing fuel technologies
Key facts
- Company
- Bajaj General Insurance Limited (formerly Bajaj Allianz General Insurance Company Limited)
- Products launched
- ProShield and VPAY 2.0
- Announced
- August 13, Pune (Maharashtra), India
- ProShield target customers
- Defence personnel
- VPAY 2.0 variants
- Prime, Classic, Elite
- Garage network
- More than 7,300 garages
- MD & CEO
- Dr. Tapan Singhel
- Credit rating
- [ICRA]AAA rating from ICRA Limited
Quotes
Dr. Tapan Singhel
MD & CEO of Bajaj General Insurance
“"Motor insurance has traditionally been centred around protecting the vehicle after an accident. Today, mobility is far more dynamic. Vehicles are becoming increasingly connected and technology driven, while different customer segments have distinct requirements that extend well beyond conventional motor insurance."”
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