Carnation Enters Into a 'Clicks & Bricks' Alliance With Policybazaar.com

GURGAON, INDIA and DELHI, October 12, 2016 /PRNewswire/ --

Carnation Auto, India's largest aftermarket player in the automotive workshop and certified pre-owned cars space has entered into an exclusive partnership with Policybazaar.com. Under the 'Clicks & Bricks' alliance, Carnation Auto would offer motor insurance cover through Policybazaar.com to all its customers across its more than 85 outlets across the country and also provide them with cashless claims, priority processing and delivery.

The alliance of both these companies, who have built leadership positions in their respective categories, is expected to benefit from more than a hundred thousand customers who reach out to Carnation outlets every year for buying certified pre-owned cars and accessing various kinds of services including mechanical & body repairs, accessories, insurance and car exchange etc. Both the entities would be leveraging their combined experience to help guide customers on whether or not to file a claim keeping in mind the extent of damage and the No Claim Bonus (NCB) that a customer enjoys in their policy. Since Carnation is an independent aftermarket service provider, they have a robust policy of repair over replacement of auto parts, which helps bring down claims ratio and out of pocket costs incurred by car owners. Carnation Auto plans to ensure that the repair costs remain competitive when compared to the authorized service network.

Policybazaar.com, a leader in the fintech space, commands more than 90% of the online insurance comparison market in India. The company has tie-ups with nearly all general insurers and almost 15% of its business comes from the motor insurance category. On the other hand, Carnation Auto, a leading bricks & mortar player, has delivered more than half a million cars till date, and is currently on a rapid expansion mode, adding eight to ten outlets every month across India.

Commenting on the partnership, Jagdish Khattar, Founder & Managing Director of Carnation Auto said, "Many families own different brands of cars and want a one-stop-shop for all their car needs. Bringing the best that digital and brick & mortar has to offer is a game changer. Carnation is rolling out its world-class network fast across the country. We will offer exclusive car deals for Policybazaar.com car owners and also try to bring down the cost of claims and depreciation through its repair versus replace policy."

Commenting on the partnership, Yashish Dahiya, CEO & Co-Founder, Policybazaar.com said, "Customers continue to remain at the helm of our business focus and our partnership with Carnation Auto would allow us to offer newer products to them with our ultimate aim being to bring down the cost of ownership. Moreover, it would bring ease of convenience to consumers, especially during road mishaps, by providing them with access to world-class multi-brand workshops across the country. We hope this partnership will enhance the value proposition for Carnation Auto as well as our customers alike."

Premji Invest is an investor in both Carnation Auto and Policybazaar.com. The partnership is combining 'Clicks & Bricks' to deliver superior benefits to their respective customers. Since both business models complimented each other, they would leverage highly on each other's deep industry knowledge to provide seamless insurance renewal and cashless claim solutions across the country.

About Carnation Auto: 

Carnation Auto, an initiative by Mr. Jagdish Khattar, ex-Maruti man, visionary entrepreneur is India's largest independent aftermarket multi-brand automobile sales and service network. Carnation offers state-of-the-art infrastructure for car servicing and other car related solutions like insurance, accessories, car detailing and certified per-owned cars. The Carnation network, with over 85 outlets spread across the country aims to enhance the overall experience of owning a car and has delivered over half a million cars since its founding in 2008. Its investors include Premji Invest, IFCI Ventures and Gaja Capital.

Visit: http://www.carnation.in

About Policybazaar.com: 

Policybazaar is India's largest online financial services platform and is an InfoEdge (Naukri.com), Inventus Capital, Tiger Global Management, Steadview Capital, Premji Invest, Temasek and Ribbit Capital Investee Company. The portal specializes in making purchase decisions easy, by helping consumers with analysis of financial products based on price, quality and key features. It showcases an array of insurance plans offered by almost all insurers as well as up-to-date information on financial products and prompt, solution-driven customer service.

The portal has been conferred with the 'Best Financial Website' award for two years in a row (2013 & 2014) at the prestigious India Digital Awards presented by the Internet & Mobile Association of India (IAMAI). Currently, the website boasts of over 45 million visitors every year and records sale of more than 50,000 transactions a month.

Visit: http://www.policybazaar.com

Twitter handle: @policybazaar_in

Media Contact:
Aman Dhall
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+91-9868247741
Policybazaar.com