Financial Daily from THE HINDU group of publications
Sunday, May 11, 2003
Financial Daily from THE HINDU group of publications Sunday, May 11, 2003 |
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Marketing
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Promotions & Offers IOC offers free insurance Our Bureau
NEW DELHI, May 10 TARGETING the transportation sector, Indian Oil Corporation (IOC) on Saturday launched a scheme under which it is selling its `Servo' brand engine oil with a free one-year accident insurance policy. Termed `Servo Double Suraksha', the scheme offers a Rs 100,000-worth free accident insurance policy valid for a year on purchase of a 20-litre Servo Pride, Servo Super Multigrade, Servo Premium CF-4 and Gear HP oils in select pouches, according to an official release. An insurance policy for half the amount is given free on purchase of a 10-litre pack of any of the above lubricants. The scheme allows transfer of the insurance policy to any of the buyer's employees, friends or relatives within the age group of 5 to 70 years. As part of the scheme, repeated purchases can be made to accumulate insurance cover up to Rs 10 lakh for adults and Rs 5 lakh in the case of minors. Currently, IOC lubricants have a 40 per cent market share in the transportation sector.
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