By
Samachar Vishesh News
Chandigarh 20th September:- The government’s
vision of a financially inclusive society received another shot-in-the-arm
through the strategic partnership between India Post Payments Bank (IPPB) and
Bajaj Allianz Life Insurance. Both the companies came together today, to
formally sign the Corporate Agency Agreement.
The partnership with Bajaj Allianz Life Insurance, the
first life insurer to tie-up with the newly formed bank, will ensure that the
awareness on the benefits of life insurance reaches every IPPB customer. IPPB
customers across segments can access a wide array of simple yet value-rich life
insurance products and services. These products will first be available across
IPPB’s network of 3250 access points, gradually expanding to 155,000 post
offices across every village, town and district in India.
Speaking at the event, A. N. Nanda, Secretary, Department
of Posts, said that financial inclusion and financial literacy are the key
requirements for any progressive nation, and he believes this partnership will
enable India move steadily in that direction. A partnership that brings
together a government entity and a large private life insurance player together
to take forward such a critical mandate showcases the dedication of the
government and the brand to deliver on the vision they have for the country.
Commenting on the partnership, IPPB MD & CEO, Suresh
Sethi, said that the aim of India Post Payments Bank is to build the most
accessible, affordable and trusted bank for the common man and to spearhead the
financial inclusion by removing the barriers for the unbanked and underbanked
population. IPPB has invested in cutting edge technology to provide simplified,
convenient and secure banking to its customers. As we look forward to becoming
India’s most accessible bank, it is important to drive financial inclusion
through financial literacy. This strategic partnership will enhance customers’
understanding on how life insurance secures them against life risks and also
provide them access to the products to mitigate such risks. Bajaj Allianz Life
is the leader in managing life insurance across segments, and we are keen to
leverage their expertise to strengthen our product proposition for our
customers.
Speaking on the momentous occasion, Tarun Chugh, MD &
CEO, Bajaj Allianz Life Insurance, said that we are both excited and proud
about our strategic partnership with IPPB, India’s largest payments bank, with
an unmatched network and a brand that resonates with every Indian. We are
confident that the strength of their network coupled with our expertise will
work to increase awareness about life insurance, and help many more Indians
leverage the benefits of life insurance to achieve their life goals through
affordable solutions. Bajaj Allianz Life has dedicated teams across the board
to ensure this partnership benefits IPPB, its customers, and imbibes the
financial inclusion vision of the country.
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