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NT Bureau
Chennai, Mar 14:

        Cholamandalam MS General Insurance Company Limited (Chola MS), a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group, Japan, has become a preferred insurer for Hyundai cars.

        An agreement to this effect was signed between Chola MS and Hyundai Motor India here yesterday. Through this tie-up, all Hyundai customers would be able to insure their vehicles at the dealer points and avail post-accident, near cashless repairs of insured vehicles at all Hyundai dealerships. The Korean car maker has aimed to offer its customers hassle-free accident repairs and recovery of insurance claims through motor insurance from Chola MS.

        This preferred insurer tie-up with Hyundai is the second such tie-up that Chola MS has forged, the first being with Toyota Motors.

        The tie-up would enable Chola MS to get preference as an insurance provider at 184 Hyundai dealers across the country. Hyundai Motor India has a range of brands like Santro, Elantra, Getz, Verna and Sonata.

        Cholamandalam MS offered a range of solutions in non-life insurance including motor insurance and packages in health, home, travel, accident, property, marine and engineering sector.

        Right from underwriting and product development, the company has reached a high degree of operational efficiency for policy issuance with proven redress mechanism for fair and speedy claims settlement.

        Headquartered in Chennai, the $1.6 billion Murugappa group is business conglomerate with vast stakes in engineering, abrasives, finance, general insurance, sanitary ware, cycles, sugar, farm inputs, bio-products and nutraceuticals and 29 registered companies having manufacturing plants in 12 states of India.