COIMBATORE: Karur Vysya Bank (KVB) on Wednesday entered into a corporate agency partnership with Bajaj Allianz Life, one of India's leading life insurance companies, to offer life insurance solutions to the bank's customers.
Through this partnership, the bank will provide Bajaj Allianz Life's value-packed life insurance solutions to its customers and enable them to achieve their life goals in a planned manner.
Bajaj Allianz Life through its affordable and new-age life insurance solutions will empower the bank's new and existing customers to avail the living benefits of life insurance.
The insurer's products will be available at the bank's 780 branch offices spread across India.
"KVB has been aligned with Bajaj Allianz to market their non-life products since the past 17 years. When KVB wanted to provide additional options to customers for their life insurance needs, Bajaj Allianz Life emerged as a natural choice," the Bank's President and Chief Operating Officer J Natarajan said in a statement.
"KVB has been attracting new clientele through its end-to-end paperless digital journey by granting in-principle sanctions for retail loans in 15 minutes. These customers besides existing customers too would now not need to look beyond KVB for the entire range of financial requirements," he added.
Bajaj Allianz Life Managing Director and CEO Tarun Chugh, in a statement said the partnership with KVB would help make available value-packed and affordable life insurance solutions to a large number of people.
"We are pleased to partner with a customer-centric brand like Karur Vysya Bank who like us is committed to meet the financial goals of its customers. Our partnership will help in making value-packed and affordable life insurance solutions accessible to a large number of people," he added.
"With our tech-enabled servicing solutions and comprehensive life insurance products, we look forward to enabling the life goals of Karur Vysya Bank's customers," Chugh said.
Under this partnership, all retail and group products of Bajaj Allianz Life will be made available to the bank's customers, including savings, retirement, investment, protection and critical illness life insurance products.