Royal Sundaram To Offer Temporary Replacement Cars

Customers who have taken an auto insurance cover from Royal Sundaram Alliance Insurance Company (RSA) will in future even get a temporary replacement car in the event of a serious break-down.

"We are looking at offering temporary replacement, but then we have to price it carefully as motor insurance is a tariff product," said RSA managing director Mickey Brigg.

Spread across 10 cities, RSA has already introduced a novel cashless claim facility for its motor insurance product through 40 dealerships. Brigg added: "This number will increase as we go forward, as we also plan to use the Fiat dealership network to offer a cashless facility".

 

RSA, Fiat Sundaram Auto Finance (FISAF) and Fiat India on Monday announced a strategic partnership for motor insurance products. The strategic partnership includes distribution of motor insurance and other insurance covers across Fiat dealer locations throughout India under the umbrella 'Fiat Protect'.

RSA prefers to undertake insurance of motor claims through its strategic alliances with ABN Amro, American Express, Sundaram Finance, Standard Chartered Bank, Citibank and the latest tie up with FISAF.

The first product in the 'Fiat Protect' range to be launched is "Fiatshield" _ the first manufacturer support motor insurance in India, which protects the insured under a comprehensive package policy against loss or damage to car, occupants and third parties. Fiatshield would be distributed through 55 Fiat dealers in over 35 cities in India. Briggs told Business Standar that he estimated an annualised premium of Rs 5 crore to come through this strategic alliance in the years to come.

Fiat commercial director Vijay Chandorikar said: "We have targeted a sales of 50,000 units in the next year". Fiat has sold 5,000 units to date and expects to sell another 6,000 in the current fiscal.

FISAF managing director Osar Madeddu said that as the major chunk of profits for original equipment manufacturers comes from services, "we are trying to introduce the same to Fiat customers in India". FISAF, Fiat and Royal Sundaram are working on services it will introduce in the Indian market under the `Fiat Protect' umbrella, including accident and roadside assistance.