Business: Karur Vysya Bank in strategic partnership with Bajaj Allianz Life Insurance
Karur Vysya Bank (KVB) said on Wednesday it has entered into a corporate agency partnership with Bajaj Allianz Life to offer life insurance solutions to the bank's customers.
Karur (Tamil Nadu): Karur Vysya Bank (KVB) said on Wednesday it has entered into a corporate agency partnership with Bajaj Allianz Life to offer life insurance solutions to the bank's customers.
Under the partnership, all retail and group products of Bajaj Allianz Life will be made available to the bank's customers, including savings, retirement, investment, protection and critical illness life insurance products.
The insurer's products will be available at the bank's 780 branch offices spread across India.
KVB has been aligned with Bajaj Allianz to market their non-life products for the past 17 years, said J Natarajan, KVB's President and Chief Operating Officer.
"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," he said in a statement.
Tarun Chugh, Managing Director and CEO of Bajaj Allianz Life, said the company will leverage tech-enabled servicing solutions and comprehensive life insurance products to serve KVB customers. (ANI)