A new insurance product will bring a new level of protection for those who walk, bike or take public transport on public transport. 

The latest from Insurance Commissioner Ajay Maken, who has been appointed by the government to oversee the insurance industry, is an app called the SmartCar.

The app will be able to calculate collision damage, assess liability, and provide free collision insurance for up to 20 years, with no out-of-pocket cost.

The plan also aims to reduce the burden on insurers by enabling them to offer discounts on car insurance rates.

“The SmartCar is a smart way to bring more insurance to the market.

We are targeting an insurance market that has not been fully utilised,” Maken said on Thursday.

In order to get the app on the market, Maken has been asked to submit his proposal by February 21.

The government is yet to set up a national smart insurance platform.

The National Car Insurance Scheme (NCIS) will provide free auto insurance for people aged up to 55 for the next three years, but this will only apply to drivers who use the app, which will be launched in the next few months.

The programme has already been launched for about 30 lakh drivers.

The government has said that it wants to have more cars insured through the app in 2020.

“The government will make a proposal in the near future to set a national insurance platform to enable insurance companies to offer a competitive, low-cost auto insurance option to drivers.

The government will also ensure that any government-run app is compliant with the regulations,” a senior government official said.

The app will not only help in saving lives but will also help insurers save money, the official said, adding that it is a first step towards providing insurance for all of India’s 1.2 billion people.