Press release from Business Wire India
Source: Carnation Auto
Wednesday, October 31, 2012 04:31 PM IST (11:01 AM GMT)
Editors: General: Consumer interest, People; Business: Automotives, Banking & financial services, Business services, Financial Analyst; Automotive
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Carnation Launches its Insurance Solutions Business

New Delhi, Delhi, India, Wednesday, October 31, 2012 — (Business Wire India) — — Comprehensive Insurance Solutions with Pan India Presence

— Ability to sell Insurance Products from over 20 different Insurance providers

— Cashless facilities across all 22 Car Care Hubs in 16 Cities

— Strategy of “repair not replace” helping bring down cost of ownerships and Insurance claims ratio

Carnation Auto, India’s pioneering independent multi-brand auto solutions network, launched its Insurance Solutions vertical on the receipt of it’s Insurance broking license. Carnation Insurance, will now be able to sell not only General Insurance products like car insurance but also life insurance products. The company will provide the best insurance plans along with comprehensive solutions to all current and prospective customers. With this, Carnation has become the only independent multi-brand auto solutions provider in the Indian auto industry to offer 360 degrees car care solutions across the country.

Auto insurance is the biggest contributor to the Insurance industry with a 40-45% revenue share. The Indian Insurance sector is expected to grow at a CAGR of 15-20% over the next 2-3 years; making it the right time for Carnation; already an established leader in the organized multi brands marketplace, to enter this exciting space. As a broker, Carnation’s expertise will lie in offering prospective customers the right products to match their individual needs at the best possible rates. The company will provide cashless claims facilities across its existing nationwide car service and repair network in cities like Bangalore, Delhi, Gurgaon, Hyderabad, Mumbai, and Pune to name a few. Carnation will also leverage its online presence to create awareness of insurance products and match customer requirements with suitable solutions.

Mr. Jagdish Khattar, Chairman & Managing Director, Carnation Auto on the launch of the business said, “We were already the pioneers in the organised multi-brand auto solutions segment. The addition of the insurance license gives us the perfect opportunity to provide comprehensive car care solutions to our customers. We now provide car service and repair, car spa, buying and selling of used cars, new cars sales, accessories, workshop on wheels and now best in class general and life insurance solutions all under one roof. Our strength lies in the fact that our insurance SMEs (Subject Matter Experts) will be able to align our customers’ needs and requirements with the products offered by over 20 Public & Private Sector Insurance Companies in India. We will also utilize the web to empower car owners to make informed insurance purchase decision.” He further added that, “In the last 4-years we have served over 4+ lakh customers, and several thousands of them have availed of our cashless insurance claims facility through our 22 hubs spread across India.”

About Carnation Auto:

Carnation Auto, an initiative of Mr. Jagdish Khattar, is India’s leading independent multi-brand automobile sales and service network with a state-of-the-art infrastructure for car services, and related solutions like accessories, insurance, WoW (Workshop on Wheels) and certified pre-owned cars. Carnation has its extensive network spread across the country, with the aim of enhancing the overall experience of owning a car and to optimize the cost of ownership.

Since its launch in October 2008, Carnation Auto has accomplished significant milestones in its short journey including setting up 22 operational auto solutions hubs, with a collective count of 635 bays, spread across 16 cities. The Company has 22 Pre-Owned Cars Showrooms, 50+ Workshop-on-Wheels and has delivered over 4+ lakh cars to-date.

For further information, please visit http://www.carnation.in / http://www.carnationcorp.com.

CONTACT DETAILS
Abhishek Upadhayay, Carnation Auto, +91 (85) 27444155, [email protected]
Sunny Kataria, Carnation Auto, +91 9717001358, [email protected]/

KEYWORDS
CONSUMER, PEOPLE, AUTOMOTIVE, BANKING, BUSINESS SERVICES, Financial Analyst, AUTOMOTIVE

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