Tata AIG today announced a partnership with Mahindra Finance to distribute non-life insurance products through Mahindra Finance’s extensive customer network.
Under this partnership, Tata AIG, a joint venture company between Tata Group and American International Group (AIG), will offer a range of general insurance products. These include motor, health, personal accident, and other non-life insurance solutions to over 10 million customers of Mahindra Finance.
Collaboration
“This collaboration with Mahindra Finance is an important move towards making our insurance products more accessible,” said Neelesh Garg, Managing Director & CEO at TATA AIG General Insurance. He emphasized the significance of the partnership in expanding the reach of Tata AIG’s insurance offerings.
Tata AIG General Insurance Company Limited manages assets worth Rs 26,854 crore and has a distribution network across 220 locations. This partnership is expected to leverage Mahindra Finance’s vast customer base to enhance the availability of Tata AIG’s insurance products.
Focus on Rural and Semi-Urban Sectors
Mahindra Finance, which focuses on the rural and semi-urban sectors, has over 10 million customers. It operates 1,370 offices and reaches out to customers in 380,000 villages and 7,000 towns across India. This wide reach is seen as a crucial factor in the success of the partnership.
“It is a significant step in our commitment to facilitate agile and efficient products powered with personalized customer experience towards being a responsible financial solution partner to Emerging India,” said Raul Rebello, Managing Director & CEO of Mahindra Finance. He highlighted the importance of the partnership in enhancing customer experience and providing comprehensive financial solutions.
The collaboration between Tata AIG and Mahindra Finance aims to provide customers with easy access to a variety of insurance products, ensuring better financial protection and security for individuals and families across the country.
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