KARUR (TAMIL NADU): Vysya Bank has entered into a corporate agency partnership with Bajaj Allianz Life, one of India’s private leading life insurance companies, to offer life insurance solutions to the bank’s customers.
Bajaj Allianz Life is a partnership between two powerful and successful entities in their own right – Bajaj Finserv Ltd, one of India’s most diversified non-banking financial institution and Allianz SE, one of world’s leading asset manager and insurer.
Through this partnership, Karur Vysya Bank (KVB) said, it will provide Bajaj Allianz Life’s value-packed life insurance solutions to its customers and enable them to achieve their life goals in a planned manner. Bajaj Allianz Life through its affordable and new-age life insurance solutions will empower the bank’s new and existing customers to avail the living benefits of life insurance.
A statement from Karur Vysya Bank said the insurer’s products will be available at the bank’s 780 branch offices spread across India. Speaking about the partnership, J Natarajan, President & Chief Operating Officer, Karur Vysya Bank, said that KVB has been aligned with Bajaj Allianz to market their non-life products for the past 17 years.
He said when KVB wanted to provide additional options to customers for their life insurance needs Bajaj Allianz Life emerged as a natural choice.
“KVB has been attracting new clientele through its end-to-end paperless digital journey by granting in-principle sanctions for retail loans in 15 minutes. These customers besides existing customers too would now not need to look beyond KVB for the entire range of financial requirements,” he added.
Tarun Chugh, MD & CEO, Bajaj Allianz Life said the partnership will help in making value-packed and affordable life insurance solutions accessible to a large number of people.
“With our tech-enabled servicing solutions and comprehensive life insurance products, we look forward in enabling the life goals of Karur Vysya Bank’s customers,” he added.