Subject category:
Finance, Accounting and Control
Published by:
Amity Research Centers
Length: 6 pages
Data source: Published sources
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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