Bajaj Allianz Life Insurance, a private life insurer, has entered into a strategic partnership with City Union Bank, one of the oldest private sector banks in India.
This partnership will help the private life insurer offer a wide array of life insurance solutions to the bank’s existing and future customers, across their 727 branches.
Tarun Chugh, MD and CEO, Bajaj Allianz Life Insurance, and N Kamakodi , MD and CEO, City Union Bank, signed the agreement on Tuesday.
‘Fulfil long-term financial goals’
Through this partnership, City Union Bank customers will be able to fulfil their long-term financial goals by investing in Bajaj Allianz Life’s value-packed products ranging from term, savings, retirement, investment solutions and more.
Chugh said, “Our partnership with City Union Bank will further help us expand our footprint in the southern states, and beyond. Our suite of comprehensive life insurance products will enable City Union Bank customers to fulfil their life goals in a simple yet effective manner.”
Kamakodi said, “As per the open architecture of IRDAI, when CUB wanted to tie up with one more life insurance company to provide additional options to customers for their life insurance needs, Bajaj Allianz Life emerged as a natural choice.”