Bancassurance by Karur Vysya Bank
- India’s Scheduled Commercial Bank, Karur Vysya Bank (KVB) has announced to make partnerships with Bajaj Allianz Life Insurance for bancassurance which is known as selling of life assurances and other insurance products and services by banks.
What is Bancassurance Pact ?
- According to the pact, KVB Bank will be able to market all retail and group products of Bajaj Allianz such as savings, retirement, investment, protection and critical illness life insurance and others products using its 780 branches.
What is bancassurance?
- Bancassurance is known as a partnership that a bank and an insurance company makes. through it, Bank can sell insurance company’s insurance products to their clients.
About Karur Vysya Bank:
President & Chief Operating Officer(COO)- Natarajan Jagannathan
Tagline– Smart Way to Bank
CEO – P. R. Seshadri, K Venkataraman
Founders – M. A. Venkatarama Chettiar, Athi Krishna Chettiar
About Bajaj Allianz Life Insurance:
MD & CEO- Tarun Chugh
Founded – 2001