Financial institution of India and New India Assurance have entered right into a strategic partnership to supply a variety of common insurance coverage merchandise to prospects of the general public sector financial institution.
With this tie-up, Financial institution of India’s prospects can have entry to insurance coverage options, together with well being, motor, private accident, house, and industrial insurance coverage merchandise supplied by NIACL, a systemically essential insurance coverage firm, the lender stated in a launch.
“The tie-up is a step ahead in providing complete insurance coverage options beneath one roof,” stated Financial institution of India MD & CEO Rajneesh Karnatak.
Girija Subramanian, Chairman-cum-Managing Director, The New India Assurance Co Ltd (NIACL), expressed confidence that the partnership will improve insurance coverage penetration for Financial institution of India prospects and supply them with high quality service and safety.
Financial institution of India has over 5,200 branches throughout the nation, whereas New India Assurance brings with it over 100 years of excellence within the common insurance coverage sector, making this partnership a strong alliance in India’s bancassurance ecosystem, as per the discharge.
