Cholamandalam partners with Western India Automobile Association
By Our Corporate Bureau | 30 Nov 2004
Mumbai: In what is claimed to be first of its kind tie-up for non-life insurers in the western region, Cholamandalam MS General Insurance (Chola-MS), has entered into a partnership with the Western Indian Automobile Association (WIAA), the largest automobile association in South-east Asia.
Members of WIAA will now be entitled to a rebate of up to 5 per cent subject to a Rs200 ceiling in motor insurance premium, which now can now be availed through Chola MS. All customers of Chola MS in the western region would get a special membership offer for enrolling into WIAA. The tie-up would enable Chola MS customers to become members of WIAA at Rs50 as against membership fee of Rs650.
With WIAA membership, Chola MS customers will be entitled to various benefits like automobile taxation and legal advice relating to vehicles and assistance in paying fines, driving license reminder service, towing services in the event of breakdown. Members can also avail assistance while traveling abroad by providing international driving permit, eliminating the need for a separate driving license in each country.
"Motor insurance from western India contributes 35 per cent of the total motor portfolio and 11 per cent of the total GWP across all products. Given the vast potential offered, it is in our interest to tap into this large market through a strategic partnership with WIAA", says Arun Agarwal, managing director, Cholamandalam MS General Insurance.
Chola MS is in the process of creating unique ''health and personal accident insurance product and the tie-up with WIAA would offer it an excellent marketing opportunity to promote the product to WIAA''s existing base of 50,000 members.
