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Now, get car insurance in under 5 minutes courtesy CarDekho, Coverfox
Highlights
Coverfox an online insurance portal and Cardekho.com, India’s No. 1 auto portal, today announced a strategic partnership. Under this partnership, Cardekho.com will offer its customers/users auto insurance from Coverfox, in its ongoing focus to provide comprehensive information and services around cars in a quick and easy manner.
INDIA, New Delhi: Coverfox an online insurance portal and Cardekho.com, India’s No. 1 auto portal, today announced a strategic partnership. Under this partnership, Cardekho.com will offer its customers/users auto insurance from Coverfox, in its ongoing focus to provide comprehensive information and services around cars in a quick and easy manner.
Besides helping Cardekho.com customers to use the Coverfox platform and get instant renewal of their car insurance, with a choice of all top insurance companies, this partnership also helps CarDekho bring the same ease and convenience to its car dealer network in booking insurance via Coverfox for their customers at the point of sale. The Coverfox platform provides a very simple, easy to comprehend and hassle free process that cuts through steps and usually tedious paperwork involved with buying insurance for used cars.Amit Jain, CEO, Cardekho, says “Cardekho is more than a car listing portal; we intend to create a 360-degree experience for our customers, who choose their car with ease on our website but then have to go through the hassle of traditional insurance rituals to get their vehicle covered. Our partnership with Coverfox will help us create value for our used car dealers and customers alike, by providing them a single-step resolution to all their insurance buying needs.”
The used car market exceeds the new car market in India. An industry survey states that for every 100 new cars sold in India, 110 pre-owned cars are sold. The used car market is growing at around 20-25%CAGR and is predicted to grow 4x in the next four years while the new passenger vehicle production is expected to increase to 10 million in FY20 from 3.2 million in FY15, as per IBEF.
Varun Dua, founder & CEO of Coverfox said, "Buying a car, whether new or used, is a size-able investment. The all-important insurance plan that is mandatory to safeguard your priced investment is often extremely tedious and confusing. We at Coverfox are dedicated to make this step in the buyer’s journey, a hassle-free and simple one through its technology and customer focused support ecosystem. The collaboration with Cardekho is a strategic step to enable consumers makes a well considered insurance choice in a quick and credible manner”.
The strategic partnership announced today is significant as it helps both Coverfox and Cardekho.com extend the brand ethos of each, that of bringing innovative products and services thattremendously enrich the customer experience in a rapidly growing market.
Strategic partnerships such as these are pivotal to Coverfox’s overall plan to fill the wide gap in the Indian auto Insurance market, by making the process of buying and managing insurance a quick, transparent, and a simple one. Through its partnership with CarDekho.com, it offers customers of both new and used cars, a smart insurance option on their next car purchase and a superior experience like never before.
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