Aditya Birla Health Insurance Co Ltd (ABHICL), Aditya Birla Capital Ltd.’s (ABCL) health insurance joint venture, announced a bancassurance collaboration with major public sector lender UCO Bank for the distribution of health insurance products through the bank’s branches across India.
This collaboration will allow ABHICL to extend its national footprint by leveraging UCO Bank’s broadly distributed network of 3,164 branches and reach out to the bank’s more than 40 million customers in India.
Commenting on the association, Soma Sankara Prasad, MD & CEO, UCO Bank said, “We are delighted to announce the Bank’s new standalone health insurance partnership with Aditya Birla Health Insurance Company, which brings knowledge and expertise of innovative healthcare and wellness offerings. We are confident that this partnership will further support the bank in enhancing the customer experience by focussing on selling the right health insurance product to the customers and making the overall experience of insurance policy and claim settlement a smooth experience for the customers. With our customer-first approach we are happy to share Aditya Birla Health Insurance’s innovative and health-first solutions with all our customers.”
Customers and employees of UCO Bank will now have access to ABHICL’s comprehensive suite of health-first insurance solutions, including incentivized wellness benefits of up to 100% Health Returns and chronic management programme, Day-1 cover for asthma, high blood pressure, high cholesterol, diabetes; wellness coaching on nutrition and fitness; and mental health counselling. ABHICL now has 17 bancassurance partners and over 80,000 direct selling agents across the nation thanks to the UCO Bank partnership.
Mayank Bathwal, CEO – Aditya Birla Health Insurance, said, “We are delighted to announce our strategic alliance with UCO Bank, one of the leading public sector banks in India. At ABHI, our endeavour has been to help our customers with cutting-edge innovative health-first insurance solutions which not only protects them from medical uncertainties but nudges them to live a health-focused life. This partnership will help us strengthen our distribution network further and allow us to offer customised, cost-effective, and innovative advanced health insurance solutions to millions of UCO Bank customers across India. This will further aid us in our vision of health insurance for all.”
ABHICL has more than 200 branches and a diverse presence in over 4800 cities across the nation. With an extensive network of over 10,000 hospitals, ABHICL can provide health insurance services to the country’s most remote and underserved areas.