Magma General Insurance Limited (Magma) has forged a strategic alliance with Hyundai India Insurance Broking Pvt. Ltd. (HIIB) to enhance motor insurance accessibility across the country.
Under this collaboration, HIIB will offer Magma’s motor insurance policies for private and commercial passenger vehicles through its extensive network of 600+ dealerships across India. This partnership is aimed at providing vehicle owners with comprehensive insurance coverage against risks such as accidents, theft, natural calamities, and third-party liabilities. By joining forces, both companies seek to deliver seamless, cost-effective, and easily accessible insurance solutions to customers nationwide.
The agreement was formally signed last week in Gurugram, with key representatives from both organisations in attendance.
Speaking about the partnership, Mr. Sameer Samdani, Whole Time Director and CEO of Hyundai India Insurance Broking, stated, “We aim to enhance insurance penetration by offering superior insurance solutions designed in association with the most trusted insurance companies. We are confident that our customers will benefit from Magma’s dynamic approach and solutions. The tie-up reinforces our proposition of delivering Superior Products and One Class Above Experience to all our customers nationwide.”
Echoing this sentiment, Mr. Rajive Kumaraswami, Managing Director and CEO of Magma General Insurance, emphasized, ““We are excited to partner with Hyundai India Insurance Broking (HIIB), a wholly owned subsidiary of Hyundai Motor India Limited (HMI), the second-largest carmaker in India. This partnership is a strategic initiative for us to strengthen our passenger car portfolio. Through our bouquet of motor insurance products and more than a decade of expertise in underwriting different customer segments, we shall be able to support Hyundai India Insurance Broking customers with easy access to insurance and quality service across the country.”
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This collaboration underscores Magma and HIIB’s shared vision of delivering high-quality insurance solutions, ensuring financial security and convenience for vehicle owners across India.
