Bengaluru: Homegrown two wheeler EV maker Ather Energy is all set to foray into auto insurance distribution by setting up a wholly-owned subsidiary, marking the first time the company is venturing beyond its core competencies. This venture is aimed at offering its existing customers EV-specific insurance products, by partnering with multiple insurers.
The move is aimed at streamlining Ather Energy’s insurance offerings, while generating a recurring source of revenue and enhancing customer experience.
This foray will help Ather build a well-integrated ecosystem around its EV two-wheelers, including vehicles, charging infrastructure, servicing, accessories, software, warranties and now insurance.
“We have always believed that a good ownership experience goes beyond the vehicle itself. Insurance is a critical part of that journey today, and it’s an area where the experience can be made significantly simpler and more predictable for customers. By bringing insurance distribution closer to the Ather ecosystem, we can make it simpler, more transparent, and better aligned with how our customers actually use their vehicles. Over time, this also gives us the ability to work with partners to design auto insurance products that reflect real EV usage, rather than adapting legacy frameworks. This is a measured but deliberate step, focused on strengthening the ownership experience while building a capability that complements our core offering and scales with the business.” Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said in a press release.
