Plans similar tie-up with two banks in Punjab
Bharti Axa General Insurance Company Ltd, a 74:26 per cent joint venture between Bharti Enterprises and Axa Group, has signed a Bancassurance tie-up with Nashik-based Nashik District Central Co-operative (NDCC) Bank.
Moreover, the company is also in talks with two banks in Punjab for Bancassurance tie-up.
NDCC Bank, which has very strong base in Nashik district with 213 branches, plays an important role as a central financing agency for the district.
“Our tie-up with NDCC Bank will strengthen the reach and penetration of Bharti Axa General Insurance in Nashik district, using the Bank’s large client base. We plan to promote retail and group policies that are specifically designed to suit the bank’s customers. These include our retail line products like our Critical Illness, Personal accident, shop & home and other Health & Motor products,” said Amarnath Ananthanarayanan, CEO Bharti Axa General Insurance Co. Ltd, at a press conference here.
“Presently, the company has Bancassurance tie-up with 13 banks. Our strategy since inception has been of multi-channel distribution and Bancassurance has played a major role in our growth. We are planning Bancassurance tie-up with two more banks in Punjab, shortly,” he said, but avoided giving further details.