Federal Bank, a prominent private sector bank in India, announced a Bancassurance tie-up with Tata AIA Life Insurance Co Ltd, one of India’s leading life insurance companies. 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 the entities focus on technology enabled, consumer centric business model, adding to the synergies of the partnership.
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, our endeavour is to partner our consumers, giving them access to best-in-class life insurance solutions, backed by empathy led service experience, to enable them to live a fikar-free life. 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 fulfil their aspirations and secure their loved ones across all stages of life.”