ICICI Lombard, Karur Vysya Bank tie up for bancassurance partnership

ICICI Lombard on Wednesday said it has entered into a strategic tie-up with Karur Vysya Bank for selling insurance products. The association will provide the bank's customers access to the insurer's portfolio and make insurance more accessible to its customers across India, ICICI Lombard said in a release.

Through this collaboration, ICICI Lombard aims to offer innovative insurance solutions to 8 million customers of the bank spread across its 779 branches in the country, it said. Sanjeev Mantri, Executive Director, ICICI Lombard said, "Bancassurance as a channel has been a strong catalyst for us as it opens numerous opportunities through partnerships with trustworthy organizations. With this tie-up, we aim to leverage Karur Vysya bank's rich heritage of over 100 years of providing banking services in India and offer our exclusive and innovative non-life insurance solutions to their customers."

"Our main focus is on keeping clients at the heart of all our schemes, and this tie-up will help us uphold a strong and distinguished insurance catalog," said Gururaja Rao, General Manager, Karur Vysya Bank.

Source: Devdiscourse