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Deutsche Bank and standalone health insurer Max Bupa Health Insurance have tied up to offer the insurer's health offerings to the bank's customers across the country.
Insurance Regulatory and Development Authority (Irda) had earlier permitted banks to act as corporate agents of one standalone health insurance company in addition to one life and one non-life insurance company.
Prashant Joshi, head (retail banking India) at Deutsche Bank, said: “With increased life expectancy, rising hospitalisation and medical costs, and benefits of cash-less hospitalisation, it is imperative for individuals to get adequate health insurance to protect themselves and their families. With this partnership, we aim to provide an umbrella of innovative solutions to our customers’ health insurance needs.”
Deutsche Bank will now offer a comprehensive product suite to its customers including the Max Bupa’s flagship product Heartbeat. This plan provides comprehensive coverage to customers of different age groups according to their health needs.
Manasije Mishra, CEO of Max Bupa, said this alliance is an important milestone as bancassurance (the sale of insurance products through banks) is part of the firm’s growth strategy.
The product suite will also include ‘Health Companion’, which offers differential city-wise pricing and Health Assurance, a first-of-its-kind three-in-one assured cash benefit plan, which covers critical illness, personal accident and hospital cash.
