Castrol, Mahindra Insurance Brokers Collabs For Castrol Auto Service Workshops
Automotive lubricant manufacturer, Castrol India has signed an agreement with Mahindra Insurance Brokers (MIBL), an insurance brokerage firm for Castrol Auto Service (CAS) workshops.
Castrol Auto Service (CAS) workshops will now have an option to empanel themselves as POSPs (Point of Sale Persons) for the distribution of eligible insurance policies from India’s motor insurance providers through MIBL. The CAS workshops can offer automotive insurance products via a digital platform in addition to repair and maintenance services for their customers’ vehicles.
Sandeep Sangwan, Managing Director of Castrol India, said, “As the automobile industry sees significant growth, with India being the fourth largest automobile market, vehicle insurance has seen unprecedented growth. This potential gives us confidence in this alliance with Mahindra Insurance Brokers to further empower our CAS workshops to reach more customers.”
This alliance provides CAS workshops an opportunity to expand their customer base and offer value-added services.
"Vehicle insurance accounts for a high 34 per cent of the non-life insurance premiums in India (according to market studies), and presents an opportunity in a growth market. This collaboration with Castrol India, helps scale our reach and assist these workshops in becoming POSPs with leading insurance companies on our panel, thereby empowering them to offer cashless services and generate incremental business through accidental repairs," added, Vedanarayanan Seshadri, Managing Director and Principal Officer of Mahindra Insurance Brokers.
