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Business

Maruti launches car insurance

By Our Special Correspondent

NEW DELHI MAY 10. Maruti Udyog Ltd. today announced the launch of Maruti Insurance to facilitate instant issue of new policies and their renewal as also enable customers to complete all insurance-related transactions at the show-room itself.

Under Maruti Insurance, customers will have the flexibility to undertake post-accident repairs from any dealer workshop, irrespective of where they may have purchase the Maruti vehicle and the insurance policy. In the event of an accident, the dealer will offer towing facilities and is entitled to identify a surveyor, raise an estimate and process it.

In partnership with two insurance companies, Maruti Insurance is intended to save customers many of the problems related to post-accident repairs and recovery of insurance claims by providing complete support from the Maruti dealer network, said the Maruti Chairman and Managing Director, Jagdish Khattar, at a news conference here today. Maruti has 254 sales outlets and 333 dealer workshops spread across the country.

For this initiative, Maruti has set up two insurance distribution subsidiaries — Maruti Insurance Distributors Services (MIDS) and Maruti Insurance Brokers Limited (MIBL). While MIDS has partnered with Bajaj Allianz, MIBL will work with National Insurance Company.

Mr. Khattar pointed out that customers are looking for insurance products that provide them support, comfort and convenience, more so after their vehicles have met with an accident.

Unfortunately, these attributes are missing in the existing market for car insurance. "Maruti Insurance will fill this gap,'' he asserted,

With this launch, Maruti is now in a position to offer a range of services in an integrated fashion — disposal of the existing car (True Value), finance (Maruti Finance) and insurance cover (Maruti Insurance). Besides the company will offer cars on lease to corporates and undertake servicing under the N2N business initiative.

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