Goa, February 21st, 2024 – Zuno General Insurance, a new age digital insurer, designated as the lead insurer for the vibrant state of Goa, announces its commitment to driving awareness and accessibility of motor insurance. With a mandate from the insurance regulator, Zuno General Insurance aims to bridge the gap in insurance coverage, ensuring financial protection for the people of Goa and compliance with legal mandates.
Goa, is witnessing a trend of increasing road accidents over past few years. Despite efforts to enhance road safety measures, the number of accidents has surged in recent years, posing a significant concern for public safety and welfare. According to the Goa Police Traffic Cell’s annual reports, there was a 15% increase in road accidents from the previous year, with fatalities rising by 10%. According to the data, as many as 230 persons lost their lives from January to November last year. The highest 38 lives were lost in the month of January 2023 while the lowest 11 lives were lost in the month of August.
The escalating number of road accidents in Goa poses a significant risk, particularly concerning uninsured vehicles. With the rising incidence of accidents, the presence of uninsured vehicles exacerbates the challenges faced by authorities and victims alike. Despite legal requirements mandating vehicle insurance, almost 40% of vehicles in Goa remain uninsured. This issue compounds the repercussions of accidents, impacting not only the uninsured drivers but also other road users and the broader community.
Most of such vehicles are concentrated in the localities of Bardez, Salcette. According to the data provided, private cars represent 28% of uninsured vehicles, two-wheelers account for 66%, and the remaining 6% comprise uninsured commercial vehicles.
“As the lead insurer for Goa, we are taking proactive steps to address the issue of uninsured vehicles in the state by partnering with the Goa state transport department and leveraging data-driven insights,” said Pooja Yadav, Chief Product Officer at Zuno General Insurance. “Our collaboration with IRDAI and the Goa state government underscores our dedication to ensuring every vehicle owner in the state is adequately protected, we are poised to raise awareness and accessibility while promoting the importance of motor insurance compliance,” she added.
Through a collaborative effort with the Insurance Regulatory and Development Authority of India (IRDAI) and the Goa state government, Zuno General Insurance is addressing the issue with a two-pronged approach. Firstly, raising awareness through Road safety awareness campaigns and programs. Zuno conducted road safety drive at select traffic signals in Goa during the month of January which is the Road Safety Month organized by the Ministry of Road Transport & Highways, Government of India. Secondly, through a communication campaign to reach out to uninsured vehicle owners with an aim to raise awareness among vehicle owners about the critical need for minimum liability insurance, as mandated by law. Zuno has received invaluable data on uninsured vehicles from the Goa State Transport Department.
To facilitate this outreach campaign, Zuno General Insurance has introduced a user-friendly online platform tailored for vehicle owners. This platform simplifies the insurance application process, guiding users through policy selection and payment. Upon successful payment processing, policies are promptly issued, ensuring immediate coverage for the insured.
In a strategic approach, Zuno General Insurance will roll out the initiative in phases, beginning with uninsured private cars. Subsequent phases will address uninsured two-wheelers and commercial vehicles, ensuring an organized and effective execution of the campaign. Zuno General Insurance invites all vehicle owners in Goa to join in this initiative and secure their vehicles with the necessary insurance coverage. Together, everyone can drive towards a safer and more secure future on the roads of Goa.
