Mauritius: Launch of the first online car insurance

Jun 12, 2012

The first online car insurance in Mauritius was launched on June 8th.

The first online car insurance in Mauritius was launched on June 8th.

The Click & Go service, created by Mauritius Union, has been designed to facilitate access to car insurance with an online registration, quote and payment system.

"This is a way of getting closer to our clientele and help people save time (…) we wish to associate our product with the internet boom" said Mauritius Union Chief Executive Officer Kris Lutchmenarraidoo, quoted by L'Express de Maurice newspaper.

The amount of premium in the general insurance sector on Mauritius increased by six percent in 2010, going from Rs 5.2 billion (€140 million) to Rs 5,5 billion.

Car insurance dominated this sector with around 67 percent of sold insurances, according to the Financial Services Commission 2010 annual report.

Life insurance is also very popular with Mauritians. It generated around Rs 12 billion (€322.8 million) in 2010, compared to Rs 9.5 billion in 2009, which represents a 26 percent growth.

The sector's progression in Mauritius is expected to continue with the development of bank insurance.

The clients of the Mauritian branch of State Bank of India can now benefit from Island Life's life-insurance products at the bank branches, thanks to an agreement officialised on May 16th 2012.

According to the general director of Island Life, Vinayakumar Balakrishnan, quoted by Le Mauricien newspaper, competition in the insurance sector is very strong in Mauritius and this is why it is important to find partners that can insure a better distribution of insurance products.

SBI (Mauritius) CEO J S Hiremath said that this partnership fits with the bank's policy to widen its offering.ADNFCR-2976-ID-801382212-ADNFCR