Volvo Car India offers term insurance coverage to employees at dealerships

Volvo Car India on Friday said it has covered all employees of its dealerships under a term insurance policy of up to Rs 10 lakh in the wake of the second wave of the coronavirus pandemic.

Stating that one of the major concerns during this pandemic has been the fate of a family that loses its breadwinner, the company said it is addressing this concern and will bear the premium cost and has undertaken the term insurance of all personnel employed at its 25 dealerships across India.

"Under this initiative, in the unlikely and unfortunate event of a dealer employee's demise due to COVID-19, the employee's family will receive a compensation up to Rs 10 lakh," Volvo Car India said in a statement.

Commenting on the initiative, Volvo Car India Managing Director Jyoti Malhotra said as dealer employees are usually the first interface that Volvo customers have with the company, they play a crucial role in customer satisfaction.

"For us they are an integral part of our team and therefore the company does have responsibility towards them, more so during these unprecedented times. While we hope and pray that there is no pay-out under this initiative it is definitely a comforting hope for those in our dealership ecosystem," Malhotra added.

Volvo Car India further said it had earlier announced the 'Contactless Program' to safeguard its dealer employees from the spread of COVID-19 and to promote online sale. The company is receiving more than 50 per cent of customer inquiries through online platforms.