Bajaj Allianz General Insurance and Canara Bank tie-up
Posted on:29 Nov 2016 09:28:08
29 November 2016 Current Affairs GK: Canara Bank and Bajaj Allianz General Insurance signed a corporate agency agreement for distribution of Bajaj Allianz's general insurance products through Canara Bank's network of 5,920 branches across the country.
Under the strategic agreement, Bajaj Allianz General Insurance will offer its industry leading general insurance products to the customers of Canara Bank, Bajaj Allianz.
A bouquet of personal lines of products such as Motor Insurance, Home Insurance, Health Insurance, Travel Insurance and commercial line of products such as Fire Insurance, Marine Insurance and Engineering Insurancewill be available through branches of Canara Bank.
The partnership aims to provide enhanced customer experience by leveraging technology to augment the comprehensive range of third party products and services distributed by the Bank.
This tie-up will especially benefit our customers who will get easy access to a rich bouquet of innovative products to cover their valuable assets created out of Bank finance and also benefit from the expert risk management knowledge of Bajaj Allianz Co.
Canara Bank's widespread 6,000 branch network will help Bajaj Allianz to reach out to a much larger customer base and offer comprehensive insurance solutions in Tier - II and III cities and consequently help leverage the existing network of banks to increase insurance penetration.
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