Strap: The tie-up will enable IPPB to sell non-life insurance products of Tata AIG General Insurance
Copy: India Post Payments Bank (IPPB) and Tata AIG General Insurance for distribution of non-life insurance products across India.
IPPB has a network of 650 branches and over 136,000 banking access points to citizens at large. The scope of products include health insurance products, personal accident, motor insurance and other innovative tailor made products.
The services can be provided at nearly 200,000 touch points with Gramin Dak Sevaks who are equipped with micro-ATMs and biometric devices which play an important role in 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 Tata AIG will go a long way in helping us realize that vision. Through these tie-ups, we have further strengthened our insurance portfolio offerings and hope to add more products in 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 simple, convenient and economical manner.”
Neelesh Garg, MD and CEO, Tata AIG GI said, “We see an exciting journey ahead with India Post Payments Bank, enabling us to provide door-step access to insurance products and much needed protection to consumers in the semi urban and rural India. The aim is to offer new age technology backed innovative solutions that are simple for customers to understand. Tata AIG’s trust and IPPB’s rich legacy together will help build trust and longstanding connect with diverse and evolving customers.”