Magma General Insurance Limited (Magma), a leading name in India’s general insurance sector, has partnered with Hyundai India Insurance Broking Pvt. Ltd. (HIIB) in a strategic move to expand motor insurance accessibility for Hyundai vehicle owners across the country.
As part of the agreement, HIIB will integrate Magma’s motor insurance offerings across its network of 600+ dealerships, ensuring customers receive comprehensive protection against accidents, theft, natural disasters, and third-party liabilities. This collaboration is set to enhance the insurance buying experience, providing seamless and cost-effective solutions tailored for both private and commercial vehicle owners.
The official agreement was signed last week in Gurugram, with key representatives from both companies present.
Industry Leaders Speak on the Partnership
Commenting on the collaboration, Sameer Samdani, Whole Time Director and CEO of Hyundai India Insurance Broking, expressed enthusiasm about the initiative:
“We are committed to increasing insurance penetration by offering top-tier solutions in partnership with the most trusted insurers. With Magma’s expertise, we are confident our customers will enjoy a hassle-free, superior insurance experience that aligns with Hyundai’s promise of excellence.”
Meanwhile, Rajive Kumaraswami, Managing Director and CEO of Magma General Insurance Limited, highlighted the strategic importance of the alliance:
“Teaming up with Hyundai India Insurance Broking, a wholly owned subsidiary of Hyundai Motor India Limited—the country’s second-largest carmaker—is a milestone for us. This partnership enables us to strengthen our passenger car portfolio while ensuring Hyundai customers receive easy access to robust insurance products and top-notch service across India.”
Driving a New Era of Insurance Accessibility
With this collaboration, Magma General Insurance and Hyundai India Insurance Broking reaffirm their commitment to innovation, financial security, and customer convenience. The partnership aims to simplify motor insurance acquisition and claims management, reinforcing the trust of Hyundai customers while setting new industry benchmarks.
As vehicle ownership continues to rise in India, such strategic alliances will play a crucial role in ensuring hassle-free insurance solutions that offer both peace of mind and financial protection.