India Put up Bills Financial institution (IPPB) has introduced an alliance with Tata AIG Basic Insurance coverage Co. Ltd. for distribution of non-life insurance coverage merchandise around the nation.
As a part of the alliance, IPPB will make to be had reasonably priced insurance coverage merchandise via its community of 650 branches and over 136,000 banking get admission to issues to other people.
The scope of goods will come with medical health insurance merchandise, non-public coincidence, motor insurance coverage among others.
Just about 200,000 postal carrier suppliers (Gramin Dak Sevaks and postmen) who’re provided with micro-ATMs and biometric units will distribute and advertise those insurance coverage merchandise, focussing particularly on unbanked and underserved consumers on the ultimate mile.
J. Venkatramu, MD & CEO, India Put up Bills Financial institution mentioned, “Thru those tie-ups, we now have additional bolstered our insurance coverage portfolio choices and hope so as to add extra merchandise in long term that may be certain monetary well-being for our consumers.”
Neelesh Garg, MD and CEO, Tata AIG GI mentioned, “The purpose is to provide new age era subsidized leading edge answers which can be easy for patrons to grasp. Tata AIG’s consider and IPPB’s wealthy legacy in combination will assist construct consider and long-standing hook up with numerous and evolving consumers.”