Ather Energy on Friday announced plans to enter the auto insurance services space by incorporating a wholly owned subsidiary that will operate as a Corporate Agent, marking its foray into insurance distribution.
The new entity will focus on offering auto insurance policies to Ather customers across India in partnership with multiple insurers. The move is aimed at simplifying the ownership experience, streamlining insurance offerings and enhancing customer convenience, while also creating a recurring revenue stream for the company.
By bringing insurance distribution in-house, Ather said it will be able to innovate around EV-specific insurance products, simplify policy renewals and improve attachment rates over time. The platform will cater primarily to Ather’s existing customer base, allowing the company to scale the business with minimal incremental investment and without additional customer acquisition costs.
Commenting on the development, Ravneet Singh Phokela, Chief Business Officer at Ather Energy, said insurance is a critical part of the ownership journey and integrating it within the Ather ecosystem will make the process more transparent, predictable and aligned with actual EV usage.
The foray into insurance is part of Ather’s broader strategy to build an integrated ecosystem around its electric two-wheelers, encompassing vehicles, charging infrastructure, servicing, accessories, warranty products, software and insurance, with a focus on delivering a seamless end-to-end ownership experience.