By Samachar Vishesh News
Chandigarh 22nd
July:- IDBI Bank Ltd. entered
into a Bancassurance Corporate Agency agreement with The New India Assurance
Co. Ltd. on June 14, 2019 to provide New India’s suite of general insurance
products, especially designed to mitigate varied risks and offer financial protection
against unforeseen eventualities to the Bank’s 20 million customer base across
1850 plus branches.
Commenting on the collaboration Shri Rakesh Sharma, MD &
CEO, IDBI Bank said that keeping in mind our
customer interests, we are delighted to partner with The New India Assurance
Co. Ltd., largest Non-Life Insurance Company in India with a strong
domestic and global presence. He further said that the company commands market
share of 15% in general insurance segment and would be a game changer for IDBI
Bank customers in terms of pricing and service delivery. The trust and
confidence of the leading PSU insurer with good corporate governance of the
company would help IDBI Bank and its customers to offer an array of best
products and also help in plugging the fee income for the Bank.
Commenting on the partnership, Atul Sahai, CMD, The New India
Assurance Co. Ltd. Said that we are delighted to have
partnered with IDBI Bank, one of India’s oldest and largest commercial banks
with extensive reach across the country. Apart from product pricing, very
important focal point is prompt servicing of Claims including big claims also.
We believe that from mutual sharing of synergies with prioritization of
customer services through IT-integration by capitalizing the wide network of
both the entities on a pan-India basis.
A customized Personal
Accident policy “Suraksha Kavach” was
launched on the agreement-signing date, which would soon be available to the
customers along-with other product offerings to meet the diverse needs of
individuals and businesses alike.
IDBI Bank has a strong
presence in rural and semi-urban areas, and through this partnership, its
customers will be able to take advantage of New India’s acumen of risk
understanding, wide range of protection covers backed by robust multi-channel
distribution network, exemplary servicing and seamless claims settlement
record. The association will also help New India to further deepen the
penetration of its innovative product offerings and enable more customers to
access their risk solutions anytime, anywhere.
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