Decathlon, the largest sporting goods brand in the world, with a huge retail presence in India, introduces Symbo’s Cycle Insurance and sees significant uptake with an attachment rate of 35%
About Decathlon:
Since 1976, Decathlon designs, manufactures, and
offers the best gear at the best prices for more than
80 sports. Decathlon has been present in India for
more than 10 years. It has over 70 large-scale
stores in India and retails over 500 products
including running shoes, clothing, and other
sports goods.
Highlights:
Symbo’s Cycle Insurance offers cycle care & a protection plan for the Decathlon
customers. A completely new product, Decathlon has seen tremendous
response from its customers wanting to protect their cycle purchase.
Challenges:
Cycle Insurance, a globally well entrenched product, was not easily available
in India. Cyclists had a way to buy coverage products for their cycles.
Symbo worked closely with the team at Decathlon to understand their
customers preferences to device a program that give complete peace
of mind to their customers
The Solution:
Symbo’s Cycle Insurance was offered to Decathlon customers as an add-on
in the buying journey, where customers could add on the cycle insurance
along with their purchase. Customers could upload the copy of their invoice
and activate their policy instantaneously. The plan covered key aspects like
theft, damages to the bike and accessories and even had a personal
accident policy as a part of the package, thus ensuring complete protection
against all risks that a cyclist might face.
What they say about us:
Symbo's Bicycle insurance was a very unique offering for us. We really liked
how the entire policy issuance and claims process has been fully digital and
seamless. The response from our customers has been very positive, promoting us to roll out the product across all our stores PAN India.
Vikash Gupta
After Sales Leader, Decathlon Sports India
Stats Till Now
1000
+
Policies Sold
5
%
Attachment rate
0
Weeks implementation period
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