Mar 17: Navi unveiled its Motor Insurance offering, further expanding its insurance portfolio and strengthening its focus on building simple, accessible, and customer-first financial products.
With this launch, Navi General Insurance aims to simplify the process of buying and managing motor insurance through a fully digital, app-led journey. Customers can purchase comprehensive, own-damage or third-party policies for cars and two-wheelers directly on the Navi app, with instant policy issuance, transparent pricing and zero commissions.
In a market traditionally dominated by agent- and dealer-led distribution, motor insurance policies often include intermediary commissions that add to overall costs. Navi’s direct-to-customer approach removes these commissions entirely, allowing the company to pass on cost efficiencies to customers while offering a simpler and more transparent buying experience. The zero-commission model is central to Navi’s strategy of building technology-led insurance products that prioritise affordability and accessibility.
The company’s expansion into motor insurance reflects its broader ambition to build a comprehensive, digital-first insurance platform that combines multiple protection products within a single ecosystem.
Motor insurance remains a large segment in India’s general insurance market, accounting for nearly 30-35% of total industry premiums, driven by mandatory third-party cover and rising vehicle ownership across the country. As the market continues to expand, insurers are increasingly looking at digital-first models to simplify purchasing, pricing, and claims experiences for customers.
With India expected to see continued growth in vehicle ownership and digital adoption, Navi sees a significant opportunity to serve a new generation of insurance buyers who prefer simple, app-based policy purchase and claims experiences.
“Motor insurance is one of the most widely held financial products in India, yet the buying and claims experience remains complicated. We see a tremendous opportunity to change that. As a digital-first, direct-to-customer insurer, we are cutting out commissions entirely, thus passing those savings directly to customers through competitive pricing. Simplifying finance for every Indian is at the heart of what we do at Navi, and with motor insurance, we’re extending that promise to a product that touches millions of vehicle owners every year,” said Mr. Vaibhav Goyal, Managing Director & CEO, Navi General Insurance Limited.
As part of the launch, Navi will offer:
- Fully Digital and Paperless Journey: A complete mobile experience from instant quotes and real-time policy issuance to digital document storage with zero paperwork.
- Comprehensive and Flexible Coverage: A range of plans across comprehensive, own damage, and third-party covers for both cars and two-wheelers, with clear and simple policy terms.
- Dedicated and Seamless Claims: A dedicated technology-enabled internal claims team to ensure faster, highly personalised and seamless resolutions.
- Technology-Driven Underwriting: Leveraging data analytics to offer personalised pricing tailored to individual profiles, leading to a better customer experience.
- EV Coverage: Motor insurance coverage is also available for electric vehicles, including both two-wheelers and four-wheelers, across third-party as well as own damage/comprehensive plans.
- Add-On Covers: Customers can further enhance their protection with add-ons such as Engine Protect, Zero Depreciation, NCB Secure, Roadside Assistance, Personal Accident Cover, and Consumables Cover.
Motor insurance is now live on the Navi app and available for customers across India.
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