The firm focuses on offering prolonged warranties on cars, cellular gadgets and offering assist to Global Capability Centres, mentioned Biju Nair, President, Global Connected Living, Assurant Inc.
Assurant India, an organization that focuses on offering prolonged warranties on cars and cellular gadgets, is planning to hire 300 people in the next 12 months for its operations in Chennai and Bengaluru, mentioned a senior firm official.
“We also provide support to Global Capability Centre (GCC),” mentioned Biju Nair, President, Global Connected Living, Assurant at an interplay.
The car enterprise of Assurant was a three way partnership between The Warranty Group (TWG) and TVS group between 2013-18. Following the acquisition of TWG by Assurant Inc. in May 2018, it turned a 100% entity of the latter.
“About 100 people will be recruited for domestic operations and 200 for GCC. We will be hiring data scientists, software developers and claim administrators,” mentioned Srikanth Srinivasan, India Country Head.
Assurant Inc., has an annual income of $10 billion. India hosts the second GCC, whereas the primary one is in Argentina.
“The contributions of Indian GCC to the group’s turnover is small and we hope it will touch double digit over the next three to five years. Currently, automotive business accounts for 90% of revenue and rest from connected living. We expect to strike a balance between the two at 50:50 in five years,” mentioned Mr. Srinivasan.
Mr. Nair mentioned Assurant was exploring making refurbished cellular gadgets accessible in India’s rural markets. “We collect 22 million devices globally every year that are in good condition. The barrier is the ability to import used electronic goods into India. So, we have been working with our teams to see if there can be a regulatory or a policy change,” he mentioned.
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