Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance) stated it had obtained a Certificate of Registration (Corporate Agency License) from IRDAI to behave as a ‘Corporate Agent (Composite)’ beneath the Insurance Act, 1938.
This license would allow the corporate to supply tailor-made insurance coverage to its buyer base, it stated.
“The corporate agency license would help in broadening Mahindra Finance’s product portfolio by incorporating insurance solutions. It would help customers with their financial and insurance needs being met by a single entity,” it added.
Raul Rebello, Managing Director & CEO, Mahindra Finance stated, “This diversification will open new revenue models for us while delivering personalised services to customers across our over 1,360 branches, thereby enhancing their experience.”
