Mahindra Insurance Brokers Limited (MIBL), a subsidiary of Mahindra & Mahindra Financial Services (Mahindra Finance), today announced its partnership with Mad About Wheels (MaW) – India’s first brand agnostic electric mobility & automotive solutions provider. Through this strategic partnership, MaW dealers who have been onboarded will now be able to provide comprehensive motor insurance products to customers buying electric two and three-wheeler vehicles.
The partnership will give MaW dealers selling electric 2-wheeler & 3-wheeler vehicles, 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.
Vedanarayanan Seshadri, MD & Principal Officer, MIBL said, “This unique distribution partnership will enable MaW dealer-partners to utilize MIBL’s platform to provide insurance products to the emerging and ever-evolving EV industry and the growing necessity day by day. 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.”
Amresh Khar, Co-Founder of Mad About Wheels added, “The MIBL association will help us increase our reach into this growing sector & onboard new age dealers as well as OEM brands to build more confidence in the EV business. I am sure that the EV industry at large will be the benefactors of this kind of unique partnership. Our Flagship product of Extended Warranties is running successfully, where we have already crossed 20,000 thousand customers”.
The association has been formed keeping in mind the emerging and ever-evolving EV industry and the necessity of insurance for such products