HDFC Life Announces Corporate Agency Tie-up With CARS24 Financial Services Pvt. Ltd.

HDFC
Life,
one
of
India’s
leading
life
insurers,
has
recently
entered
into
a
Corporate
Agency
tie-up
with
CARS24
Financial
Services
Pvt.
Ltd.

HDFC
Life
Announces
Corporate
Agency
Tie-up
With
CARS24
Financial
Services
Pvt.
Ltd.

CARS24
Financial
Services
Private
Limited
(“CARS24
Financial
Services“)
is
a
professionally
managed
Non-Banking
Financial
Company
(“NBFC“)
registered
with
the
Reserve
Bank
of
India
and
with
IRDAI
as
an
Insurance
Corporate
Agent.
The
Company
is
a
part
of
CARS24
group
and
offers
a
variety
of
vehicle
financing
solutions
to
customers.
INSURE24,
a
major
milestone
for
CARS24,
is
set
to
transform
the
digital
insurance
landscape
for
India’s
rapidly
growing
online
consumer
base.

This
partnership
will
enable
CARS24
Financial
Services
Pvt.
Ltd.
to
distribute
products
of
HDFC
Life
to
existing
and
future
customers
of
CARS24.
The
life
insurance
solutions
of
HDFC
Life
will
be
offered
across
the
branches
as
well
as
the
digital
platforms
of
the
partner.
Both
partners
aim
to
work
together
with
the
objective
of
increasing
the
reach
of

life
insurance
across
locations
where
CARS24
has
a
presence.
This
in
turn
would
contribute
towards
the
larger
objective
of
‘Insurance
for
all
by
2047’.

HDFC
Life,
with
70
products
(including
individual
and
group
products)
and
a claim
settlement
ratio
of
99.50%
and
CARS24
with
a
strong
presence
of
over
280
branches
across
the
country
look
forward
to
a
long
and
fruitful
partnership
that
will
play
a
significant
role
in
financially
securing
more
Indians.

Speaking
on
the
partnership,

Vineet
Arora
–
Chief
Business
Officer,
Distribution,
Data
&
technology,
HDFC
Life,
commented
“We
are
pleased
to
partner
with
CARS24
Financial
Services
Pvt.
Ltd.
Their
focus
on
innovation
and
technology
complement
our
wide
range
of
offerings
and
together
we
can
reach
out
to
a
wider
audience
thereby
providing
them
with
life
insurance
solutions.
We
believe
life
insurance
is
a
must-have
for
every
individual
with
responsibilities.
Financial
security
is
the
foundation
stone
to
building
a
strong
future
for
oneself
and
one’s
family.
This
partnership
with
Cars24
Financial
Services
Pvt.
Ltd.
will
further
strengthen
our
efforts
to
reach
out
to
individuals
across
the
country
and
secure
them,
financially.”

Vikram
Singh
Pathania – Vice
President
of
Consumer
Finance
at
CARS24
and
Head
of
INSURE24,
expressed
his
enthusiasm
about
the
partnership,
saying,
“We
are
delighted
to
join
hands
with
HDFC
Life
to
take
our
product
offerings
to
the
next
level.
HDFC
Life’s
forward-thinking
strategies,
and
profound
understanding
of
the
digital
landscape,
perfectly
complement
our
mission
to
make
insurance
simple
and
accessible
for
all
consumers.”

“HDFC
Life’s
strengths
in
product
innovation,
digital
expertise,
and
seamless
technology
integration
will
empower
INSURE24
to
effectively
engage
with
today’s
digitally-savvy
consumers.”