Castrol, Mahindra Insurance Brokers announce alliance for Castrol Auto Service Workshops

Bengaluru, 17, June 2023:CastrolIndia Limited, India’s main lubricant participant, has signed an settlement withMahindraInsuranceBrokersLimited (MIBL), a distinguishedinsurance coveragebrokerage agency.CastrolAutoService(CAS)workshops will now have the choice to empanel themselves as POSPs (Point of Sale Persons) for the distribution of eligible insurance coverageinsurance policies from India’s main motorinsurance coveragesuppliers via MIBL. The CASworkshopscan provide automotiveinsurance coveragemerchandise through a digital platform along with restore and upkeep companies for their prospects’ autos.

Mr. Sandeep Sangwan, Managing Director,CastrolIndia Limited, mentioned, “As the car business sees important progress, with India being the fourth largest car market, automobileinsurance coveragehas seen unprecedented progress. This potential provides us confidence on thisalliancewithMahindraInsuranceBrokersLimited to additional empower our CASworkshopsto achieve extra prospects. It additionally represents a big milestone in ourserviceand upkeep technique, as it can undoubtedly improve the capabilities of our communityworkshopsand be sure that they’re able to offering distinctive or improve worth to their prospects”.

“Vehicleinsurance coverageaccounts for a excessive 34% of the non-lifeinsurance coveragepremiums in India (in accordance with market research), and presents a chance in a progress market. This collaboration withCastrol India helps scale our attain, and help theseworkshopsin turning into POSPs with maininsurance coveragefirms on our panel, thereby empowering them to supply cashless companies and generate incremental enterprise via unintentional repairs. Together withCastrol, we’re dedicated to establishing the CASworkshopsas trustedservicesuppliers within the automotive business,” added,Mr. Vedanarayanan Seshadri, Managing Director, and Principal Officer, at MahindraInsuranceBrokersLimited.

Thisalliancegives CASworkshops a chance to increase their buyer base and provide value-added companies, leading to greater buyer satisfaction. Overall, this affiliation goals to assist CASworkshopsin establishing themselves as trustedservice suppliers within the automotive business.