Today's Top Gainer
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Liberty Videocon General Insurance Company Limited, a joint venture between India’s Videocon Industries Limited and Liberty Citystate Holdings Pte Limited, part of US-based Liberty Mutual Insurance Group, announced that it has tied up with India Assistance, a subsidiary of Mapfre Asistencia, which is a leading global name in the provision of roadside assistance services.
Liberty Videocon will offer “Road Side Assistance” add on cover for its Private Car Comprehensive Insurance Policies. This tie-up with Mapfre will enable Liberty Videocon General Insurance’s Motor Insurance customers, to access a host of services during emergency by dialing a toll-free number.
Under these services, a customer can avail of road side assistance, which will include Mechanical & Accidental breakdown towing, on site repairs, fuel delivery, assistance in case of wrong fuelling, battery jumpstart, flat tyre change, locked and lost keys and host of other road side emergency assistances.
Liberty Videocon General Insurance Company, which commenced its operations in India in the beginning of 2013, is currently eyeing big growth in the motor insurance segment. Commenting on this tie-up, Roopam Asthana, CEO and Whole Time Director of the Company said,“Motor insurance is a big opportunity and we want to augment our relevance in this category by adding maximum value to our products. We strongly believe that, for any insurance company to sustain in the long run, it has to create an enduring service delivery mechanism. This tie-up is a great example of our belief, where we are offering our customers value-added products, and also creating enduring service delivery mechanism for efficient and robust product delivery.”
Mapfre Asistencia is associated with Liberty Mutual in various countries such as Argentina, Chile, Venezuela and Colombia providing a variety of solutions including Roadside Assistance, Home Emergency Assistance, Shop Assistance and Mediphone.
Headquartered in Mumbai, Liberty Videocon General Insurance Company Limited (www.libertyvideocon.com) commenced business with an initial capital of Rs. 350 crore, one of the highest for a start-up company in the General Insurance industry. The company received license to operate in the general insurance industry from Insurance Regulatory Development Authority (IRDA) in May 2012. It launched its operations in India recently.