Assurant India, a company that focuses on providing extended warranties on automobiles and mobile devices, is planning to hire 300 people in the next 12 months for its operations in Chennai and Bengaluru, said a senior company official.
“We also provide support to Global Capability Centre (GCC),” said Biju Nair, President, Global Connected Living, Assurant at an interaction.
The automobile business of Assurant was a joint venture between The Warranty Group (TWG) and TVS group between 2013-18. Following the acquisition of TWG by Assurant Inc. in May 2018, it became a 100% entity of the latter.
“About 100 people will be recruited for domestic operations and 200 for GCC. We will be hiring data scientists, software developers and claim administrators,” said Srikanth Srinivasan, India Country Head.
Assurant Inc., has an annual revenue of $10 billion. India hosts the second GCC, while the first one is in Argentina.
“The contributions of Indian GCC to the group’s turnover is small and we hope it will touch double digit over the next three to five years. Currently, automotive business accounts for 90% of revenue and rest from connected living. We expect to strike a balance between the two at 50:50 in five years,” said Mr. Srinivasan.
Mr. Nair said Assurant was exploring making refurbished mobile devices available in India’s rural markets. “We collect 22 million devices globally every year that are in good condition. The barrier is the ability to import used electronic goods into India. So, we have been working with our teams to see if there can be a regulatory or a policy change,” he said.
Published - December 15, 2023 08:15 pm IST
