Switching Gears: Understanding EV Insurance
About this episode
The world is slowly looking at EVs more seriously than ever and the segment is seeing a steady growth. Between June 2022 and May 2023, India saw over 13 lakh EVs being sold and in FY2022 the segment saw a growth of over 200% YoY. This brings the discussion on having a specific motor insurance product into the fore. Electric Vehicle differs a lot from an ICE vehicle and their repair costs, vehicle parts, and damages they can incur differ. In this episode of #InsuringIndia, we speak to Mayur Kacholiya, Head of Motor Product at Digit General Insurance, to understand the difference between an ICE and EV vehicle, why it’s challenging to price an EV insurance product, what are the new options available in the market, how are they priced, and more. Tune In!