Banking

Karnataka Bank Ltd signs MoU with Bajaj Allianz for General Insurance business

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Karnataka Bank Limited has recently signed a Memorandum of Understanding (MoU) with Bajaj Allianz General Insurance Company Limited (BAGICL) for General Insurance business.

“With the agreement, the bank would be able to provide vast choice of non-life insurance products to its customers across all its 747 branches, supported by the customer centric products of BAGICL,” said P Jayarma Bhat, Managing Director and CEO, Karnataka bank.

“Customer needs are changing and increasing on day to day basis and it is necessary to every service sector entity to stand up to their expectation. Bank is moving in this direction and has entered in to a MoU with BAGICL,” he added.

Moreover, the bank will be able to provide vast choice of non-life insurance products to its customers across all its 747 branches, supported by the customer-centric products of BAGICL, reported The Times of India.

 “The partnership was an important part of the company’s growth strategy which required a robust distribution network,” said Tapan Singhel, Managing Director and CEO of Bajaj Allianz General Insurance Company Limited (BAGICL).

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