The tie-up will enable customers, particularly from weaker sections and living in unbanked and underserved areas, to become financially secure and empowered, and is in line with IPPB’s objective of offering value-added products and services to its customers.
Bajaj Allianz Life and Department of Post (DoP) and India Post Payments Bank (IPPB), announce regarding strategic partnership during a Press Conference, in the capital on Thursday.----Subrata Dutta--—11—11—21
India Post Payments Bank (IPPB), Department of Posts (DoP) has tied up with Bajaj Allianz Life Insurance Company (BALIC) on Thursday to offer term and annuity products to customers through the bank’s extensive network of 650 branches across the country.
The tie-up will enable customers, particularly from weaker sections and living in unbanked and underserved areas, to become financially secure and empowered, and is in line with IPPB’s objective of offering value-added products and services to its customers.
Bajaj Allianz Life Smart protects the goal and Bajaj Allianz life guaranteed pension goal are the term and annuity products that will be offered as per this alliance.
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India Post Payments Bank MD & CEO J Venkatramu said, “IPPB already offers Pradhan Mantri Jeevan Jyoti Bima Yojana to its customers that align with the Government’s mission of creating a universal social security net and making insurance affordable for underprivileged and disadvantaged sections. With these terms and annuity insurance products, our successful relationship with Bajaj Allianz Life has expanded further. Through our deep and robust network of banking access points, and Gramin Dak Sevaks and Postmen, we are committed to offering comprehensive financial solutions to our customers.”
Bajaj Allianz Life Insurance MD & CEO Tarun Chugh said, “We are honoured to partner with IPPB and DoP who are trusted partners for millions of customers. This is a new milestone for us as we are the first life insurer to offer value-packed products to customers through IPPB’s and DoPs diverse network. We are confident that this partnership will play an integral role in increasing the adoption of life insurance across various customer segments. Our tech-enabled services and enhancements towards this alliance are designed keeping our customer’s ease of experience and delight in mind.”
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