ABOUT STRATEGIC ALLIANCES DEPARTMENT
Strategic Alliances Department (also known as Affinity lines) deals with B2B2C (Business- Business – Customers), where we reach out to big partners, understand their business model and pain points which they carry and suggest suitable and apt INSURANCE SOLUTION PROGRAM, will be of customized insurance offering and will help them to mitigate the risk which was earlier being carried by Partner.
We look for and partner with various entities in following segments: - Financials (Banks, NBFC, MFI, Co-operative banks), Common Service Centre( CSC), Aftermarket , OEM , OES, Fintech , Mobility , E-Commerce , Online Aggregators and many more
We work on two business model
Group Model: - where partner will be Master policy holder and their customers can avail the insurance product through them, which can be attached/ complimentary / Voluntary basis. It varies from each partner, volumes expected, kind of product and finally pricing, which is affordable from partner’s/customers end or not. We have our own Group Portal, which is basically for sourcing the policy and premium payment is through two modes
as per partner needs, we even go for Insurance Company Online platform integration, where customer can pay it online
By maintaining Float amount with Insurance company, for which premium will be collected at partner end from customer and accumulated premium will be transferred to insurance company end
POSP Model – It will be through our Sajhedaari platform, where Partner will nominate list of persons (Dealer/branch employee), who will become POS of Mahindra Insurance Brokers Limited by enrolling himself/herself, completing 15/30 hours of online training and passing an exam. Insurance product majorly goes with Motor insurance. It is completely end to end online.