The said product is suppose to be storing bitcoins as a cold wallet,what happens if I lost card gets stolen or lost ? Will the new owner be able to have access to my private keys or they're stored in a centralised server in your database ? I hope you have the answers ready.
Your private key will not be stored in any server ever.
As they said previously in this thread, you will give them your private key encrypted with a password you choose previously, and they will make you the card with the BIP38 private key printed on the backside. If you lose the card, the new owner would have to brute force the password to have control over your coins.
Read in the same image you just quoted above what is written in the card.