India Post Payments Bank partners with Tata AIG Gen & Bajaj Allianz Gen for distributing insurance products

As part of the alliances with both the partners, IPPB will strive to make available affordable insurance products through its robust network of 650 branches and over 136,000 banking access points to citizens at large. Nearly 200,000 postal service providers (Gramin Dak Sevaks and postmen) who are equipped with micro-ATMs and biometric devices will play an important role in distribution and promotion of these insurance products, focussing especially on unbanked and underserved customers at the last mile.

 

Mumbai/New Delhi:

India Post Payments Bank (IPPB) today announced strategic alliances with Tata AIG General Insurance Co. Ltd. and Bajaj Allianz General Insurance for distribution of their non-life insurance products across the country.

As part of the alliances with both the partners, IPPB will strive to make available affordable insurance products through its robust network of 650 branches and over 136,000 banking access points to citizens at large. The scope of products shall include healthcare and mediclaim products, personal accident, vehicle insurance amongst other innovative tailor made products to address the protection needs of Bharat. 

Nearly 200,000 postal service providers (Gramin Dak Sevaks and postmen) who are equipped with micro-ATMs and biometric devices will play an important role in distribution and promotion of these insurance products, focussing especially on unbanked and underserved customers at the last mile.

Speaking on the significance of the tie-ups, J Venkatramu, MD & CEO, India Post Payments Bank said, “IPPB is committed to fulfilling varied financial needs of our customers with affordable and accessible solutions, and our strategic partnerships with Bajaj Allianz and Tata AIG will go a long way in helping us realize that vision. Through these tie-ups, we have further strengthened our insurance portfolio offerings and hope to add more products in future that will ensure financial well-being for our customers. Our service delivery model enables customers in availing insurance services digitally in an assisted mode at their doorstep in simple, convenient and economical manner.”

Commenting on the partnership, Neelesh Garg, MD and CEO, Tata AIG GI said, “ The aim is to offer new age technology backed innovative solutions that are simple for customers to understand. Tata AIG’s trust and IPPB’s rich legacy together will help build trust and longstanding connect with diverse and evolving customers.”

. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said,“We enthusiastically look forward to offering customer-centric insurance solutions backed by technology innovations to every part of India along with providing a seamless customer experience in partnership with the bank..”

 


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