Strap: Leading payments bank and general insurance company, India Post Payments Bank and Bajaj Allianz General Insurance company have tied-up for distribution of non-life insurance products.
Copy: India Post Payments Bank (IPPB) and Bajaj Allianz General Insurance have announced tie-up to enhance distribution of non-life insurance products.
IPPB has a network of 650 branches and over 136,000 banking access points. The products will include healthcare and medical products, personal accident and motor insurance amongst other innovative tailor-made products to address the protection needs of people.
There are nearly 200,000 postal service providers equipped with micro-ATMs and biometric devices to play an important role in the distribution and promotion of these insurance products.
J Venkatramu, MD & CEO, India Post Payments Bank, said, “IPPB is committed to fulfilling varied financial needs of our customers with affordable and accessible solutions, and our strategic partnership with Bajaj Allianz will go a long way in helping us realize that vision. Through this tie-up, we have further strengthened our insurance portfolio offerings and hope to add more products in the future that will ensure financial well-being for our customers. Our service delivery model enables customers in availing insurance services digitally in an assisted mode at their doorstep in a simple, convenient, and economical manner.”
Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said “India Post Payments Bank has been a pioneer in catering to banking services in India, especially with their robust doorstep banking network. We enthusiastically look forward to offering customer-centric insurance solutions backed by technology innovations to every part of India along with providing a seamless customer experience in partnership with the bank. We feel that insurance can play a critical role in ensuring that customers of the country remain worry-free and are able to live a life of dignity, especially in these tough times.”