Bajaj Allianz General Insurance, one of the leading private general insurers of India, and Manipur Rural Bank – a pioneer bank in the state, on Saturday announced a tie-up for a period of three years for the distribution of Bajaj Allianz General Insurance’s products across all branches of the bank in Manipur.
Under this strategic corporate agreement, Bajaj Allianz General Insurance will offer its industry leading general insurance products such as Health, Personal Accident, Home, Motor, and Travel insurance among others to financially safeguard customers of the bank, according to a release.
“Through this partnership, our aim is to ensure that not just banking services but also insurance reaches every corner of the state. Our aim is to secure and empower farmers, self-help groups, and small traders to ensure we are able to secure them financially and facilitate them towards a better livelihood,” Abhay Kumar, chairman, Manipur Rural Bank, said.
Speaking on the partnership, Rohit Jain, Head–Geo Distribution, Bajaj Allianz General Insurance, said, "Insurance is a crucial social security tool that takes care of your financial worries in the event of an emergency. However, insurance penetration is still nascent, and it is the need of the hour to have distribution partnerships with significant financial institutions in every part of the country to ensure we can reach the last mile.
"This collaboration will help us in providing credible insurance solutions to the customers of Manipur Rural Bank, thus safeguarding their overall financial stability. We look forward in offering customer-centric insurance solutions to every city and town of the region by providing best-in-class customer experience to them through our unique digital initiatives.”
This strategic alliance aims to improve penetration and awareness of a comprehensive range
of insurance products in the state with a concrete focus on redefining customer experience by
leveraging technology, the release added.