Castrol India inks pact with Mahindra Insurance Brokers

Lubes maker Castrol India has inked a pact with insurance broking firm Mahindra Insurance Brokers Limited (MIBL) for the former's auto service workshops.

Under the collaboration, Castrol Auto Service (CAS) workshops will now have an option to empanel themselves as POSPs (Point of Sale Persons) for distribution of eligible insurance policies from domestic motor insurance providers through MIBL, the company said.

Vehicle insurance accounts for a high 34 per cent of the non-life insurance premiums in the country, as per market estimates, Castol said.

The CAS workshops can offer automotive insurance products via a digital platform in addition to repair and maintenance services for their customers' vehicles.