Two Wheeler Insurance Got Newly Launched by Liberty

12 Crores to be gathered as premium through the two wheeler product. Liberty General Insurance has introduced a new product for the two-wheeler segment in the hope to net around Rs 12 crore in the current fiscal. The product aims to cover loss or damage to the insured vehicle, theft, personal accident of owner-driver or pillion rider and third party liability.

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The target is to gather around Rs 12-crore as premium from this segment (two-wheeler) in this fiscal. This product would also be used as an entry point for selling other products to retail customers in personal accident and health insurance space.

The product has been tied up with an online portal facility, which has been provided to the intermediaries. Such a move is aimed at increasing the consumer reach.

The company which is a joint venture between India's Industries and US-based Liberty Mutual Insurance Group, had recorded a gross written premium of around Rs 108 crore in April-February period of the last financial year.

Written By: PolicyBazaar - Updated: 21 July 2021