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IFFCO-TOKIO SIGNS MoU WITH SONALIKA GROUP
IFFCO-TOKIO General Insurance Co. Ltd. (ITGI), a trusted player in general insurance, today signed a Memorandum of Understanding (MoU) with Sonalika Group.
[ClickPress, Sat Oct 14 2006] IFFCO-TOKIO General Insurance Co. Ltd. (ITGI), a trusted player in general insurance, today signed a Memorandum of Understanding (MoU) with Sonalika Group. The MoU was signed between Mr. H.O. Suri, Executive Vice President, IFFCO-TOKIO General Insurance and Mr. Arun Arora, Associate Vice President, International Cars & Motors Ltd. (ICML – a division of the Sonalika Group) under the guidance of Mr. Deepak Mittal, Managing Director, ICML. As per the agreement, IFFCO-TOKIO would act as a distributor of motor insurance for Sonalika Tractors & Rhino vehicles, their MUV model.
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Speaking at the occasion, Mr. H.O. Suri, Executive Vice President, IFFCO-TOKIO General Insurance said, “The tie-up with Sonalika Group, a leading Indian manufacturer of tractors, will help us leverage their vast and widespread customer base, through their 770 plus dealers and stockist.
He further added, “Tractors are an integral part of farm mechanism and have a crucial role to play in production. Hence, signing the MoU means providing an indirect impetus to the economy. It will also help in spreading awareness about insurance to the less exposed segments of society.”
We are excited to be associated with IFFCO-TOKIO. Partnering with them will help us to leverage their training and technology expertise, where in, they would provide our team with regular upgradation of skills, marketing and general training about the insurance industry”, said Mr. Arun Arora, AVP, ICML.
This agreement will benefit both customers & dealers of ICML. While the customers will get a better service experience, dealers will be able to provide complete solutions under one roof, as well as boost business growth and improve customer retention.
About IFFCO TOKIO General Insurance Co. Ltd.
IFFCO TOKIO General Insurance Company (ITGI) is a joint venture promoted by Indian Farmers Fertiliser Co-operative (IFFCO) and its associates and The Tokio Marine and Nichido Fire, the largest insurance company in Japan. The Indian promoter’s contribution is 74 percent, while Tokio Marine has contributed 26 percent through group company Tokio Marine Asia Pte Ltd.
ITGI has a widespread network with 92 offices across the country and many more in the pipeline for the coming year. The objective behind opening new offices is to cover the enormous spread of country and reach the masses. As per the latest IRDA figure, ITGI has grown at a rate of 80 per cent, thus garnering a market share of 4.5 per cent.
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KEYWORDS: Agriculture, Consumer Interest, Corporate News, Biz News
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