GENERAL INSURANCE BLOG

Have you ever been stuck in traffic without recourse to pass your time? Most of the Indian population has experienced the same due to the ever-increasing number of cars on roads, poor driving etiquette, and ill-maintained roads. In such situations, looking around often helps find temporary things of interest.

In such situations, even mundane things can catch your eye. Have you noticed that some vehicles have different coloured number plates? However, if you have wondered why some vehicles have other coloured number plates and their significance, read on.

Understanding the layout of number plates
In FY 2019, India had 295 million registered vehicles. With a CAGR of 10% between 2007 and 2019, it is safe to assume that the pace of growth of registration has sustained, if not grown. Legal mandates have made it compulsory to buy motor insurance online and getting a vehicle registration number even before your car hits the road. To adhere to the process, knowing the layout of number plates is essential.
● The first two letters indicate the Union Territory or State where the vehicle is registered
● The following two digits denote the district RTO's sequential number
● The next section of up to 2 digits or letters reflects the series of numbers presently being allotted
● The last four digits are your car's unique registration number

You can find IND lasered under the Ashok Chakra emblem on the left. Underneath the number is a unique pin code for the number plate. The text is usually in black or white, depending on the plate's colour. This is the general format commonly used until the introduction of the BH series number plates.

Different number plate types and their meaning

1. White
This is the most prevalent type of number plate. You will be allotted a white number plate if you purchase a car for personal commute purposes. The numbers are lasered in black.

2. Yellow
Another common number plate colour is yellow, with the registration number etched in black. This indicates a commercial vehicle that may transport goods or ferry passengers. The regular documents required to be carried by drivers include motor insurance papers, a driver's licence, and a PUC certificate. Additionally, commercial drivers must have a permit that states their eligibility to carry out the same.

3. Green
The emergence of green number plates is a sign of shifting toward sustainability. These are assigned to electric vehicles of all kinds- two-wheelers, cars, buses, etc. The registration number is etched in white on these number plates. Unlike the distinction mentioned above regarding purpose, all-electric vehicles have green number plates irrespective of use.

4. Black
A black number plate indicates a vehicle has been registered for rental. Drivers do not require a commercial driving licence for these rented commercial vehicles.

5. Blue
Blue number plates with white lettering are rarely seen. They are used to indicate vehicles that belong to a foreign embassy or consulate. These are reserved for foreign diplomats and have unique registration numbers. Instead of the state code shown in the first two letters, the diplomat's country is displayed.

6. Red
Red number plates are for vehicles owned by the President or Governors of India. These number plates have a gold emblem of India instead of a registration number.

Vehicle registration is a mandatory process in India. Before you purchase a new vehicle, knowing what type of number plate to apply for is ideal. You may research more to get deeper insights and understand the colour system. Also, buy motor insurance online to keep your car safe from accidents. A comprehensive motor insurance acts as a safety net to avoid venting your pockets if your car demands repair and replacements.

Click HERE to buy motor insurance online.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

India is a country that has forever favoured 2-wheelers. With their cost-effectiveness, fuel efficiency, and ease of handling, the Indian 2-wheeler market will only grow multifold in the coming years! While manufacturers constantly launch new models that solve existing concerns in response to consumer feedback, what's classic never goes out of fashion.

One such model which is gaining popularity is Retro motorcycles. They are coming back in trend again! Apart from being a status symbol, various reasons have resulted in the popularity of retro bikes. They have been the favourite of Indians for many generations. People love riding these as they are classy, elegant, and highly durable.

Motorcycle enthusiasts prefer these retro motorcycles as they are suitable for varied terrains and long rides due to their sturdiness and comfort. Their additional safety features offer benefits similar to no other bike. Coupled with comprehensive bike insurance, you have a safe mode of a personal commute!

Despite the glitz around these classic bikes, buying your first retro bike as a beginner can be overwhelming. If you're confused about the features you should consider before purchasing a retro motorcycle, here's a quick guide to ease the process.

1. Longevity
Classic retro bikes are incredibly durable. Their quality justifies the hefty amount spent on these bikes. The vintage designs are built to last for years without hassles. Think of them as an investment in the long run, as they are heavy-duty and usually last for decades. Having a classy retro bike doubles the appeal of your parking area.

2. The comfort
These bikes come with comfy seats, an upright handlebar position for a straight riding posture, and uncluttered controls or switches. You can easily get the functions right and go along your way. They also have a high torque level and offer a pleasurable riding experience.

3. Improved engine
Engine power is essential to the biking experience. One of the greatest USPs of these bikes is their improved engines and loud revving thunder. You should always see if the bike you opt for has the latest engine and a high capacity. Also, look for shock absorbers and a secure braking system for efficient high-speed control and easy driving.

4. Practicality
Do not compromise on everyday functionality for the sake of aesthetics. Robust construction, wide tyres, and better ground clearance are required for multi-terrain use. Before purchasing a retro bike, you should keep these things in mind for the best motorcycling experience.

5. Colour options
Retro motorcycles are renowned for their classic designs and vibrant colours. Although it is a minor factor, it can contribute a lot to your style statement. You can either get them in monotone or dual shades.

Classic and retro motorcycles are incredibly well-known in India and beyond. Everyone loves owning one for themselves. It is a status symbol and a matter of pride for all. They appear vintage yet attract the youth! Hence, buying the best and most durable motorcycle for you is recommended. You can buy bike insurance for added protection to complement the safety it offers. This can protect you against the cost of damages from an accident and help preserve the value of your highly-valued retro motorbike.

Click HERE to buy bike insurance to safeguard your retro motorcycle.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

There are numerous general insurance companies in India offering multiple insurance products. However, most of the population is opposed to purchasing these insurance safety instruments despite the dire need for long-term stability. Recognising the slack in demand for purchasing specific policies, general insurance companies in India have developed a new way to make insurance products more accessible.

Embedded insurance, also known as bundling insurance, is the latest method of partnering with a third-party brand and offering consumers complimentary insurance or with a nominal fee over the transition cost. It helps make insurance accessible by bundling it for customers.

However, if you wonder how embedded insurance can expand opportunities and build strong customer journeys, read on.

What is embedded insurance?
Embedded insurance enables a third-party provider to introduce innovative insurance products for customers. It provides consumers with more affordable, personalised, and relevant insurance. It also allows general insurance companies in India to access underserved and untapped markets.

How embedded insurance helps increase insurance penetration in India? Insurance penetration is calculated as a percentage of total premiums collected relative to the country's GDP. According to the IRDAI, the country's general insurance penetration is about 1%. India's insurance penetration is lower than in developed countries.
However, we anticipate an increase in insurance penetration due to embedded insurance.

Here's how embedded insurance transforms the insurance sector and increases insurance penetration.

1. Charging the untapped markets
This insurance allows insurers to access a new market. With embedded insurance, general insurance companies in India can provide microfinance companies with policies like personal accident insurance and more to target a specific audience. Insurers and third parties can expand the insurance sector's reach in India's underdeveloped markets with the help of embedded insurance. It allows them to reach the untapped rural market, increasing insurance penetration deeper in the country.

2. Innovating product offerings
Insurers can construct personalised and more relevant insurance policies using consumer data that was not recorded or digitised. Customers can also change the insurance policy's features, coverage, cost, etc., and discontinue them if they are no longer reasonable.

3. Enhanced customer experience
Embedded insurance boosts customer satisfaction, resulting in greater opportunities for general insurance companies in India to market their services and products. It also provides more customised coverage, allowing customers to change plans and premiums according to their needs. This way, it offers more significant benefits and value to the customers.

4. Low client acquisition costs
General insurance companies in India spend roughly 20% of their income on advertising to new clients. Embedded insurance decreases the churn rate by engaging policyholders at the right time in their journey. Also, the effective cost of customer acquisition is lower than other insurance.

5. Streamlined onboarding
Many people consider insurance an inconvenient procedure requiring a series of steps. Embedded insurance gives customers a streamlined issuing process, making insurance simple and inexpensive. This applies to the claim procedure too. The smooth operations of embedded insurance is a boon for Indians to invest in insurance massively.

Embedded insurance has much potential, but businesses must balance the efficiency and speed of business operations, regulatory compliance, and customer protection for this model to succeed.

Many general insurance companies in India are now integrating the internet of things (IoT), artificial intelligence (AI), machine learning, big data analytics, and other technologies to transform the insurance industry and deliver a hassle-free customer experience. While it will require time for adoption, it is a welcome move to increase penetration rates. Insurers must use the momentum and improve their dependability to gain consumer trust.

Click HERE to invest in a reliable general insurance policy.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Driving is a highly responsible task that requires a lot of attention and focus. Even the slightest distraction can lead to an accident which could be extremely dangerous and fatal.

So, it is recommended to be familiar with all the functions of the vehicle and drive sensibly. But did you know that the position of your seat and posture also play a significant role in your driving? You should always adjust your driver's seat for the best driving visibility. It should also ensure a good posture to avoid fatigue later. A good posture also ensures you are saved from injuries in an accident.

If you are wondering how to get optimal driving posture, we have you covered. This article will list all the ways to help you achieve the best driving posture.

Also, you should get the online motor insurance renewal on time to have additional protection and avoid trouble for your vehicle later. It can save you time, energy, effort, and hassles

How to maintain the best posture while driving?
Whenever you start driving a car, you should adjust the driver's seat according to your comfort and convenience. If you're driving someone else's car, it becomes more important to adjust your seat. If you fail to do so, you can get musculoskeletal disorders (MSDs) due to bad posture. A good posture also ensures that you don't get exhausted while driving. To adjust the driver's seat, consider the following:

1. Adjust the height of the seat
The height of the driver's seat needs to be appropriately adjusted to increase visibility while you drive. You need to adjust the seat according to your height so that you do not bend over to get the view properly. Moreover, there should be a minimum gap of about five fingers between the head of the seat and the roof of the car.

2. Maintain seat distance
The distance between the seat and the steering wheel is of prime importance. You cannot see the view correctly if it is too far away and requires bending over to reach the steering wheel. The seat should be positioned in a way that you can reach the steering wheel and the pedals effortlessly. This reduces the reaction time and helps you navigate the road well.

3. Maintain the backrest of the seat
Although it may not seem important, the backrest plays an important role while adjusting your driver's seat. The backrest ensures optimal comfort while driving. The backrest should be as vertical as possible.

4. Adjust the headrest of the seat
The headrest can serve as a great safety tool while dealing with accidents. It provides more protection to the head and saves it from injuries. You need to adjust the position of the headrest in a way that it protects your head in case of a sudden impact. You can also position a bit above your head for more protection.

These are only some suggestions by which you can get the best out of your driving experience. Lack of proper road visibility while driving can make it difficult for the driver to get judgement while making turns. These small measures will help you maintain a good posture and see clearly on the road. Make these adjustments in your driver's seat and savour the joy of a comfortable car journey. You should also get online motor insurance renewal done regularly for added protection.

Click HERE to get online motor insurance renewal.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.