Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance) said it had obtained a Certificate of Registration (Corporate Agency License) from IRDAI to act as a ‘Corporate Agent (Composite)’ under the Insurance Act, 1938.
This license would enable the company to offer tailored insurance plans to its customer base, it said.
“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 said, “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.”
