Mahindra Insurance Brokers Limited (MIBL), a subsidiary of Mahindra & Mahindra Financial Services (Mahindra Finance), announced its partnership with Mad About Wheels (MaW) – India’s first brand agnostic electric mobility and automotive solutions provider. Now customers buying electric two and three-wheeler vehicles will receive comprehensive motor insurance products from dealers of MaM.
Speaking about the partnership, Mr Vedanarayanan Seshadri, MD & Principal Officer, MIBL, said, “This unique distribution partnership will enable MaW dealer-partners to utilise MIBL’s platform to provide insurance products to the emerging and ever evolving EV industry. Given the rapid growth of two and three-wheeler fleets in India this partnership will facilitate insurance through MAW dealer partners with a wide reach.”
The partnership will give MaW dealers selling electric two-wheeler and three-wheeler vehicles, an access to various insurance products offered by MIBL’s insurance partners. The customers can effectively compare and select an insurance cover that meets their individual and specific requirements.
Mr Amresh Khar, Co-Founder of Mad About Wheels said, “The MIBL association will help us increase our reach into this growing sector & on-board new age dealers as well as OEM brands to build more confidence into the EV business. I am sure that the EV industry at large will be the benefactors of this kind of a unique partnership. Our Flagship product of Extended Warranties is running successfully, where we have already crossed 20,000 thousand customers”.