In line with the recent multi bank partner guidelines issued by IRDAI,
First partnership in Bancassurance
Mumbai, May 23, 2016 : IndusInd Bank has recently signed a Corporate Agency agreement with Reliance General Insurance, with the objective to distribute multiple options of general insurance products to its customers. With this partnership, Reliance General Insurance has extended its distribution channels and will distribute its insurance products across all the branches of IndusInd Bank. This is the first tie-up on Bancassurance post the recent multi bank partner guidelines issued by IRDAI.
Commenting on the tie up, Mr. Sumant Kathpalia, Head – Consumer Banking, IndusInd Bank said “We are delighted to partner with Reliance General Insurance for distributing their insurance products to our clients. I am sure that the best-in-class product suite will cater to today’s consumer needs. These insurance products are backed with technological innovations, thereby providing convenience to clients. Moreover, I am sure this partnership will go a long way in providing comprehensive and all-encompassing solutions to our customers.”
Commenting on the partnership, Mr. Rakesh Jain, CEO, Reliance General Insurance said, “We are delighted to tie up with a fast-growing and customer centric partner like IndusInd Bank. The bancassurance channel has potential to reach out to the last mile and serve untapped markets thereby promoting the insurance penetration in India. With the alignments of our brands, people and processes, we hope to create huge value for all our customers and stake holders on a long term basis.”
About Reliance General Insurance
Reliance General Insurance, a part of Reliance Capital, is one of the leading general insurance companies of India. The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, Travel Insurance, Home Insurance and also offers customized solutions to meet the protection needs of each customer.
Reliance General Insurance offers has a wide network of more than 20,000 intermediaries across 500
locations across India for offering its products and services to retail, corporates and SME clients.