Magma HDI General Insurance, a leading player in India’s general insurance sector, has announced a strategic partnership with IndoStar Capital Finance Limited (ICFL), a prominent non-banking financial company (NBFC). This collaboration aims to enhance the availability of motor, health, and commercial insurance solutions for customers.
The corporate agent agreement was formalized in Mumbai at a ceremony attended by Karthikeyan Srinivasan, CEO of IndoStar Capital Finance, and Rajive Kumaraswami, MD and CEO of Magma HDI General Insurance, along with senior officials from both organizations.
Through this partnership, IndoStar Capital Finance will offer Magma HDI’s wide range of insurance products, ensuring customers can access financial and insurance solutions under one roof.
Speaking on the occasion, Karthikeyan Srinivasan, Chief Executive Officer of IndoStar Capital Finance Limited, said, “This partnership aligns with our vision of delivering holistic financial services to our customers. By offering insurance alongside our financial solutions, we aim to empower our customers with seamless and reliable protection for their assets and well-being.”
Echoing these sentiments, Rajive Kumaraswami, MD and Chief Executive Officer, Magma HDI General Insurance Limited shared, “We are delighted to partner with IndoStar Capital Finance, as we see a strong synergy in our target customer audience. By combining their extensive reach with our expertise in underwriting risks, this collaboration enables us to deliver greater value to customers. Together, we remain committed to advancing accessibility and creating tailored offerings.”
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This collaboration signifies a shared commitment to improving customer convenience and offering comprehensive financial and insurance services in one place.
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