Syndicate Bank has partnered Bajaj Allianz Life Insurance to offer its life insurance solutions to its customers. The insurer’s products will be available across the Bank’s 4,100+ branches in India.
This partnership also makes Bajaj Allianz Life the first non-bank promoted insurer to partner with Syndicate Bank.
The strategic partnership agreement was signed by Abhay Kumar, General Manager – Marketing, Syndicate Bank and Dheeraj Sehgal, Chief Distribution Officer – Institutional of Bajaj Allianz in the presence of Mrutyunjay Mahapatra, MD and CEO, Syndicate Bank, Tarun Chugh, MD and CEO, Bajaj Allianz Life in Bengaluru.
Under this partnership, Bajaj Allianz Life will make available all its retail products to the bank’s customers, including savings, retirement, investment, protection, critical illness and group credit protection life insurance products.
Speaking about the partnership, Tarun Chugh, MD and CEO, Bajaj Allianz Life said, “We are pleased to partner with Syndicate Bank, one of the trusted banks of the country, and offer new-age life insurance solutions to their customers. We also look forward to engage our tech-enabled servicing solutions to the Bank employees to empower them with the right tools to engage with customers better. I’m confident that through this collaboration we will be able to help many more Indians achieve their life goals. Bajaj Allianz Life and I look forward to a long-term and meaningful partnership with the Bank.”
These insurance products will be available at Syndicate Bank’s branches and online.
“This partnership is in line with our endeavour to expand our financial services portfolio and provide our customers with all the required investment and protection products and services across their life cycle. This, in addition to our technology driven banking solutions, will ensure customer delight on one hand and shore up our fee income on the other. We welcome Bajaj Allianz Life Insurance as our strategic partners and look forward to a long-term association,” Mrutyunjay Mahapatra, MD and CEO, Syndicate Bank said.