Castrol India has signed an settlement with Mahindra Insurance coverage Brokers Restricted (MIBL), a outstanding insurance coverage brokerage agency. Castrol Auto Service (CAS) workshops will now have the choice to empanel themselves as POSPs (Level of Sale Individuals) for the distribution of eligible insurance coverage insurance policies from India’s main motor insurance coverage suppliers via MIBL.
The CAS workshops can supply automotive insurance coverage merchandise through a digital platform along with restore and upkeep providers for his or her clients’ autos.
Sandeep Sangwan, Managing Director, Castrol India, stated, “As the auto business sees important progress, with India being the fourth largest car market, automobile insurance coverage has seen unprecedented progress. This potential offers us confidence on this alliance with Mahindra Insurance coverage Brokers Restricted to additional empower our CAS workshops to achieve extra clients.”
He added, “It additionally represents a big milestone in our service and upkeep technique, as it is going to undoubtedly improve the capabilities of our community workshops and make sure that they’re able to offering distinctive or enhanced worth to their clients”.
Vedanarayanan Seshadri, Managing Director and Principal Officer, Mahindra Insurance coverage Brokers Restricted, stated, “Car insurance coverage accounts for a excessive 34% of the non-life insurance coverage premiums in India (in keeping with market research), and presents a chance in a progress market.”
“This collaboration with Castrol India helps scale our attain, and assists these workshops in turning into POSPs with main insurance coverage firms on our panel, thereby empowering them to supply cashless providers and generate incremental enterprise via unintentional repairs.”
This alliance offers CAS workshops a chance to develop its buyer base and supply value-added providers. Total, this affiliation goals to assist CAS workshops in establishing themselves as trusted service suppliers within the automotive business.
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