DBT Bureau
Pune, 2nd June 2024
Federal Bank’s customers can avail of Tata AIA’s comprehensive, consumer-centric Life Insurance Solutions
Federal Bank announced a Bancassurance tie-up with Tata AIA Life Insurance Co Ltd. This strategic alliance aims to provide Federal Bank’s customers, access to Tata AIA Life’s comprehensive insurance product suite.
Federal Bank has an extensive network, which will enable Tata AIA to further strengthen its footprint. Both entities focus on the technology-enabled, consumer-centric business model, adding to the synergies of the partnership.
For Federal Bank customers, the partnership will enable them to benefit from Tata AIA’s diverse, consumer-centric life insurance solutions, including term insurance, savings and wealth creation plans, retirement and pension solutions etc. Further, they can avail Tata AIA’s innovative plans such as Param Rakshak that offer triple benefits of high life cover, market-linked returns and health & wellness benefits. The solutions are backed by Tata AIA’s tech-enabled service experience powered by best-in-class technology solutions.
Shalini Warrier, Executive Director, Federal Bank said – “We are pleased to announce a strategic Corporate Agency Bancassurance partnership with TATA AIA Life Insurance Company. This partnership aims to bring the best of insurance products to our valued customers. It is a well-known fact that the penetration of insurance amongst Indian consumers is low and through this partnership, the Bank aims to enhance financial security and wealth management for our customers. The coming together of these two revered brands reflects our commitment to always exceeding customer expectations.”
Ramesh Viswanathan, Chief Distribution Officer- Bancassurance, Tata AIA Life Insurance, said, “At Tata AIA, we endeavor to partner with our consumers, giving them access to best-in-class life insurance solutions, backed by empathy-led service experience. We are delighted to enter a long-term relationship with a reputed and technology-savvy bank like Federal Bank. This association will enable us to offer our diverse insurance solutions to the bank’s customers, empowering them to fulfill their aspirations and secure their loved ones across all stages of life.”
