By Priya Singh
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CAS workshops will now be able to provide insurance products in addition to delivering repair and maintenance services for customers' vehicles.
CAS workshops will now be able to provide insurance products in addition to delivering repair and maintenance services for customers' vehicles.
Castrol India and Mahindra Insurance Brokers (MIBL) have officially announced a strategic alliance to provide vehicle insurance plans for Castrol Auto Service (CAS) facilities. CAS workshops will have the chance to become Point of Sale Persons (POSPs) for the distribution of appropriate insurance products from top motor insurance carriers via MIBL's digital platform under this agreement.
Castrol India and Mahindra Insurance Brokers' relationship reflects the increasing needs of the automobile industry, where seamless integration of insurance services with repair and maintenance capabilities may provide clients with comprehensive solutions under one roof.
Customers will benefit from more convenience and a simplified process for handling their insurance needs by introducing insurance distribution within CAS workshops.
CAS workshops will now be able to provide insurance products in addition to delivering repair and maintenance services for customers' vehicles. This agreement will enable CAS workshops to meet the insurance needs of its consumers and boosts its total service offerings.
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"As the automobile industry sees significant growth, with India being the fourth largest automobile market, vehicle insurance has seen unprecedented growth," said Sandeep Sangwan, Managing Director, Castrol India.
"According to market studies, vehicle insurance accounts for a high 34% of non-life insurance premiums in India, and presents an opportunity in a growth market," stated Vedanarayanan Seshadri, Managing Director and Principal Officer, Mahindra Insurance Brokers.
According to the news release, the overall goal of this association is to assist CAS workshops in establishing themselves as trustworthy service providers in the automotive industry.