Product details

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Abstract

In December 2023, Mahindra & Mahindra Financial Services Limited (Mahindra Finance), an NBFC and subsidiary of Mahindra Group, decided to foray into the insurance distribution business by acquiring composite license as a corporate agent in the areas of life, general, and health insurance. Mahindra Finance's foray into insurance distribution came when the industry witnessed a vital transformation. Digitalisation, increased use of technology, the rise of InsurTech, a digital shift in insurance buying behavior, and multi-channel insurance distribution with SaaS solutions were reshaping the insurance distribution space. In such a scenario, the question that surfaced was - Did Mahindra Finance make the right decision to foray into the insurance distribution business in India? What were the opportunities and challenges for the company in the future?

Teaching and learning

This item is suitable for undergraduate, postgraduate and executive education courses.

Time period

The events covered by this case took place in 2024.

Geographical setting

Region:
Asia
Country:
India

Featured company

Mahindra & Mahindra Financial Services Limited
Employees:
10000+
Type:
Public company
Industry:
Financial services

About

Abstract

In December 2023, Mahindra & Mahindra Financial Services Limited (Mahindra Finance), an NBFC and subsidiary of Mahindra Group, decided to foray into the insurance distribution business by acquiring composite license as a corporate agent in the areas of life, general, and health insurance. Mahindra Finance's foray into insurance distribution came when the industry witnessed a vital transformation. Digitalisation, increased use of technology, the rise of InsurTech, a digital shift in insurance buying behavior, and multi-channel insurance distribution with SaaS solutions were reshaping the insurance distribution space. In such a scenario, the question that surfaced was - Did Mahindra Finance make the right decision to foray into the insurance distribution business in India? What were the opportunities and challenges for the company in the future?

Teaching and learning

This item is suitable for undergraduate, postgraduate and executive education courses.

Settings

Time period

The events covered by this case took place in 2024.

Geographical setting

Region:
Asia
Country:
India

Featured company

Mahindra & Mahindra Financial Services Limited
Employees:
10000+
Type:
Public company
Industry:
Financial services

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