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Wednesday, March 23, 2011

Warren Buffet enters India through Auto Insurance

Posted by santosh harakamani at 11:42 AM
Legendary investor Warren Buffet’s Berkshire Hathaway is making its entry in to India through Auto insurance. Buffet who’s investment philosophy has been to remain within circle of competence is highly successful through its Insurance and reinsurance business.

Gecko the lizard, hallmark of Geico Insurance in US reminds me of my stint with Auto Insurance in US. When Gecko started popping up on TV and urging to check how much you could save on the car insurance through Geico, I cold not escape the temptation like any car owner. True to its claim, the quote was surprisingly lower to be believed. Called the customer service to make sure and remained with it for about 3 years. The first time talked to agent was to verify and then on it was purely an online business.
Geico, is one of the poster boys of BH’s portfolio now.

Berkshire Hathaway has put its foot on Indian market through online Insurance distribution model at berkshireinsurance (dot) com. It has no significant content presently and would be launched on 25th March by the man himself who is touring India (first visit) on his philanthropy drive.

Presently in India the FDI for insurance is 26% , which BH feels a lot smaller by it's standards to invest as they believe the amount of efforts required for 26% is same as 50% or 60%. So may be that is the reason for them to be an agency than an insurance company themselves yet.

But I am sure it is the space to watch for millions of auto insurers in India.
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4 comments:

  1. jenniferJune 23, 2011 at 4:49 PM

    Its great to hear this news

    ReplyDelete
  2. UnknownMarch 13, 2012 at 10:33 AM

    Hello,

    Interesting post shared here with lots of good information. i did enjoyed visiting here and did get lots of good points from here. thanks for sharing this post and keep posting such post here in future too. it would be nice if you can share some information related to auto transport carriers here in your future posts..

    Thanks,

    ReplyDelete
  3. Car DealershipJuly 24, 2012 at 2:18 PM

    Auto Insurance market is growing at a very fast rate and the competition in this market is also increasing.

    ReplyDelete
  4. UnknownJuly 26, 2012 at 4:39 PM

    Hi Guys Good Post

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    thanks

    ReplyDelete

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