24 February, 2006
Royal Sundaram Alliance Insurance Company Ltd, today celebrated the sale of ''one lakh'' motor insurance policies under Maruti Insurance across the country.
Maruti Insurance has already registered over 2 million car insurance polices with its four alliance partners. Royal Sundaram, which is one of the four partners, has completed one lakh policies in a record span of about 10 months in the current financial year.
Under the preferred relationship between the two companies, Maruti Insurance customers have the advantage of a one stop shop facility whereby settlement of claims is done directly by the dealer workshop where the vehicle is repaired. Maruti Insurance also offers instant policy issuance, and seamless services of renewals, endorsements and claims at any Maruti authorised dealer outlet across India.
The Royal Sundram - Maruti agreement was initiated in July 2004. Towards the end of the fiscal year 2004-2005 the number of dealers across the country increased to 54. From 2005 till date, there has been a tremendous increase in the motor insurance sales, with Royal Sundaram achieving the one lakh landmark in the number of motor policies sold across more than 80 Maruti dealers across the country.
According to Mr. Jagdish Khattar, Managing Director, Maruti Udyog Limited, - Maruti Insurance is one of the many services that Maruti has started offering to customers in recent years. Through these businesses, we want to take care of all car-related needs of our customers in a convenient and transparent manner. We value our partnership with Royal Sundaram and I am happy that they have touched one lakh customers in a short span of time".
At Royal Sundaram - Maruti Insurance, customers get the advantage of a one-stop shop for all car insurance needs. From identifying the most suitable car coverage to virtually hassle-free claim assistance it''s the dealers who take care of everything.
Antony Jacob, Managing Director, Royal Sundaram Alliance Insurance adds, - Royal Sundaram, since inception has recognised partnerships as a key element in its sales strategy. In this context, we have put in place an organisational structure that compliments this channel from a support and servicing perspective. On the basis of this strategic belief Royal Sundaram has entered into a robust partnership with Maruti, which is aimed at providing better customer service. Our relationship with Maruti extends the reach of our products and services to car owners across the country providing us with a competitive edge. Private motorcar cover is the single biggest component of Royal Sundaram's retail portfolio, and will continue to play a dominant role."