Along with the survey, Edelweiss General Insurance has announced its new identity as Zuno General Insurance (Zuno GI)

Edelweiss General Insurance has announced its new identity as Zuno General Insurance (Zuno GI). Zuno GI is a new age digital insurer with an aspiration to reimagine and redefine Insurance to make it easy, friendly, and transparent. It is built on the premise that any kind of general insurance should be simple, easy, and straightforward.

The name brings alive the company’s passion, enthusiasm, and singular focus on providing customers with the most convenient and hassle-free experience powered by tech that’s responsive and intuitive. The name and identity represents the young, innovative, approachable, digital native and upbeat personality of the brand and resonates with the Millennial and GenZ audience.

Along with the new identity, the company has launched a consumer study titled ‘Usage Based Insurance: Decoding Awareness, Perception and Behaviour’. The study was done to understand Millennial and GenZ’s awareness, understanding and consideration for UBI. Zuno General Insurance has been fore fronting the concept of usage-based insurance (UBI) in India for almost three years now.

Key highlights of the research:-

♦ 65 per cent respondents feel that people in India are safe drivers.

♦ 90 per cent respondents want to get a driving score that indicates how safe they drive.

♦ 58 per cent respondents are aware of usage-based insurance.

♦ 70 per cent respondents have strong intention to buy usage-based insurance over other insurance options.

♦ Rewards for safe driving’ & ‘Driving score’ are the top two influential factors to opt for usage-based insurance.

♦ 76 per cent respondents strongly believe that getting a driving score will help improve their driving skills.

♦ 95 per cent respondents believe rewarding safe driving will positively influence driving behavior.

Speaking at the launch, Shanai Ghosh, MD & CEO, Zuno General Insurance, said, “The findings have been extremely insightful and has validated our conviction about the potential of UBI in India, encouraging us to continue investing in this category that we pioneered in 2020. Given the exponential growth of smartphone users in the country, telematics-based solutions will appeal to the digital natives empowering them to see and influence the pricing they get on Motor Insurance. With the findings of the report, we wish to drive awareness of new concepts like UBI which will not only link premium to your usage and driving but also encourage safe driving practices in the country,”

Zuno General Insurance conducted the survey in eight cities - Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, and Ahmedabad, in collaboration with Crownit.