Money & Banking

Max Bupa and Indian Bank ink bancassurance tie-up to offer health insurance solutions

KR Srivats New Delhi | Updated on September 21, 2019 Published on September 21, 2019

Partnership to help fulfill health insurance needs of over 40 million Indian Bank customers

Max Bupa, a standalone health insurance player, has announced a bancassurance corporate agency agreement with Indian Bank, a state-owned bank.

Under the agreement, Max Bupa will provide comprehensive health insurance solutions and services to over 40 million customers of Indian Bank spread across 2800 branch network, through a slew of digital touch points.

As part of the tie-up, Max Bupa’s offerings will include both retail and group health insurance products besides Indemnity and Fixed Benefit products.

Ashish Mehrotra, MD & CEO, Max Bupa said, “We are extremely delighted to partner with Indian Bank and are committed to help over 40 million customers of the bank lead healthier, more successful lives. With growing incidences of lifestyle diseases, health insurance has become one of the most important investments for people today. With our tie up with Indian Bank, we are offering our customisable health insurance solutions to Indian Bank’s strong customer base spread across the country. Indian Bank has a significant presence in South India and this partnership further strengthens Max Bupa’s footprint in the Southern market.”

MK Bhattacharya, Executive Director, Indian Bank said, “At Indian Bank, we aim to offer our valued customers a wide range of products and services. With our partnership with Max Bupa, we are moving a step ahead to provide our customers comprehensive health insurance solutions, and assured service excellence standards. We hope our customers across the country benefit from our partnership and choose quality health insurance products suited to their health needs.”

Further, Max Bupa has designed a digital ecosystem for Indian Bank customers to enhance their overall experience and avail health insurance solutions at their convenience.

Max Bupa will install ‘Infinity’ - its proprietary digital platform that integrates with the bank’s systems, to provide a seamless buying journey for all the bank’s customers. Through this digital solution, the customers can purchase the health insurance product of their choice instantly and access their policy documents at the bank branch itself.

Additionally, Max Bupa’s digital seller application - InstaInsure, will allow Indian Bank to sell Max Bupa products securely via handheld devices, making the health insurance journey further simplified, with the aid of a streamlined and interactive support system. The relationship managers can use the app to complete the policy sale process, including the collection of payment from customers electronically.

Published on September 21, 2019
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