Castrol and Mahindra Insurance Brokers Join Forces for Castrol Auto Service Workshop

Castrol India and Mahindra Insurance Brokers (MIBL) have recently announced a strategic partnership aimed at providing vehicle insurance policies for Castrol Auto Service (CAS) workshops. Under this agreement, CAS workshops will have the opportunity to become Point of Sale Persons (POSPs) for the distribution of eligible insurance policies from leading motor insurance providers through MIBL's digital platform.

In addition to offering repair and maintenance services for customers' vehicles, CAS workshops will now be able to extend their range of services by providing automotive insurance products. This collaboration will empower CAS workshops to cater to their customers' insurance needs, enhancing their overall service offerings.

Sandeep Sangwan, Managing Director of Castrol India, expressed confidence in the alliance, citing the significant growth of the automobile industry and the booming vehicle insurance sector in India. As the country stands as the fourth-largest automobile market globally, Sangwan sees immense potential in this partnership with Mahindra Insurance Brokers to further strengthen CAS workshops' ability to reach and serve a larger customer base.

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According to market studies, vehicle insurance accounts for a substantial 34% of non-life insurance premiums in India. Vedanarayanan Seshadri, Managing Director and Principal Officer of Mahindra Insurance Brokers, acknowledged this growth potential and the opportunity it presents in a rapidly expanding market. The partnership between Castrol and MIBL aims to tap into this market potential and position CAS workshops as trusted service providers in the automotive industry.

The collaboration between Castrol India and Mahindra Insurance Brokers reflects the evolving needs of the automotive sector, where seamless integration of insurance services with repair and maintenance offerings can provide customers with comprehensive solutions under one roof. By incorporating insurance distribution into CAS workshops, customers will have greater convenience and a simplified process for addressing their automotive insurance requirements.

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This partnership signifies a significant step forward for both Castrol India and Mahindra Insurance Brokers. It showcases their commitment to meeting the evolving demands of customers while leveraging their respective expertise in the lubricants and insurance sectors. The joint efforts of these industry leaders are expected to contribute to the growth and success of CAS workshops, ensuring that they remain at the forefront of providing comprehensive automotive services to customers across India.

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