Punjab & Sind Bank (PSB), based in Delhi, and Bajaj Allianz Life Insurance have launched a Corporate Agency Partnership. The collaboration agreement was inked today in New Delhi by Swarup Kumar Saha, MD & CEO of Punjab & Sind Bank, and Tarun Chugh, MD & CEO of Bajaj Allianz Life Insurance.
Punjab & Sind Bank is the 25th Schedule Commercial Bank to collaborate with Bajaj Allianz Life Insurance in order to distribute its life goals-based product suite.
Swarup Kumar Saha, MD & CEO, Punjab & Sind Bank said, “Punjab & Sind Bank is happy to partner with a leading private life insurer to offer our customers with value-packed solutions for their life insurance needs. The Bank is in the phase of diversifying its third party product portfolio and with this tie-up we are happy to announce the introduction of Credit Life protection for our loan customers.The comprehensive product suite, including Credit Life Cover for our loan customers, and services of Bajaj Allianz Life Insurance will be effective to help our customers, across our branches, to invest towards their life goals.”
Speaking on the partnership, Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance, said, “It is a prestigious moment for all of us at Bajaj Allianz Life Insurance. To provide the Bank’s customers, across segments, a delightful experience towards fulfilling their life goals with us, we have a comprehensive suite of products and services backed by robust technology. Our bespoke banking offerings to all teams across the Bank, will further enable us to make this a long-term and successful partnership, as we enable many more life goals, together.”
The collaboration would allow new and existing clients of Punjab & Sind Bank to access a range of retail life insurance products from Bajaj Allianz Life Insurance, including term, savings, retirement, and investment choices. The life insurance will collaborate closely with the bank to provide customers with seamless service and to assist them in reaching their long-term financial goals in a planned manner. In addition to the well-trained bank staff who serve the life insurance division, this includes responding to client assistance requests made via WhatsApp or a self-service tool like the Bajaj Allianz Life LifeAssist App.
