Castrol India has partnered with Mahindra Insurance Brokers to allow Castrol Auto Service workshops to distribute eligible insurance policies from leading motor insurance providers through MIBL.

Castrol and Mahindra Insurance Brokers join hands to empower CAS workshops

The automotive industry in India is among the top-performing sectors contributing to the country’s economic growth. Castrol India Limited, one of the leading lubricant manufacturers in India, has announced its alliance with Mahindra Insurance Brokers Limited (MIBL), a well-renowned insurance brokerage firm. The agreement is set to empower Castrol Auto Service (CAS) workshops by allowing them to receive eligible insurance policies from leading motor insurance providers available on MIBL’s digital platform. The partnership demonstrates Castrol’s commitment to enhancing its service and maintenance strategy and helping its network workshops offer exceptional service to its customers.

This strategic partnership with MIBL will provide an opportunity for Cas Workshops to become point of sale persons (POSPs) for insurance policies, expanding their business model beyond just vehicle repair and maintenance. The collaboration will empower workshops to offer a range of insurance solutions to their clients, making their businesses multi-dimensional. This business opportunity will have a considerable impact on the automotive industry, which is currently seeing significant growth.

MIBL and Castrol India’s partnership will also help CAS workshops become more reliable and trustworthy service providers in the automotive industry. The workshops will be able to provide cashless insurance services and accidental repairs to their clients and expand their customer base, resulting in higher customer satisfaction.

In conclusion, the partnership between Castrol India and MIBL is a positive development, which has the potential to create new business models for workshops in the Indian automotive industry. This collaboration not only benefits the CAS workshops but also presents an opportunity for other workshops to join and provide a comprehensive range of services to their customers. The partnership will also likely pave the way for more such alliances in the future, which will ultimately benefit the Indian economy.

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

Castrol India Limited, India’s leading lubricant player, has signed an agreement with Mahindra Insurance Brokers Limited (MIBL), a prominent insurance brokerage firm. Castrol Auto Service (CAS) workshops will now have an option to empanel themselves as POSPs (Point of Sale Persons) for distribution of eligible insurance policies from India’s leading 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.

Mr. Sandeep Sangwan, Managing Director, Castrol India Limited, 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 Limited to further empower our CAS workshops to reach more customers. It also represents a significant milestone in our service and maintenance strategy, as it will undoubtedly enhance the capabilities of our network workshops and ensure that they are capable of providing exceptional or enhance value to their customers”.

“Vehicle insurance accounts for a high 34% 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. Together with Castrol, we are committed to establishing the CAS workshops as trusted service providers in the automotive industry,” added, Mr. Vedanarayanan Seshadri, Managing Director and Principal Officer, Mahindra Insurance Brokers Limited.

This alliance provides CAS workshops an opportunity to expand their customer base and offer value added services, resulting in higher customer satisfaction. Overall, this association aims to support CAS workshops in establishing themselves as trusted service providers in the automotive industry.