Public sector lender Canara Bank and its life insurance partner Canara HSBC Oriental Bank of Commerce Life Insurance are soon going to introduce ‘Webassurance’.
As per the initiative, four life insurance products of Canara HSBC OBC Life would be offered to the customers of Canara Bank, covering the key needs such as child future, savings and investments, retirement planning and protection, said the lender in its official communique.
“There is a large and rapidly growing section of our customers who are digitally savvy and prefer to engage online for their banking requirements. This customer segment also likes to have control over their purchase process and look for convenient availability of products and services online,” said R A Sankara Narayanan, Managing Director and CEO, Canara Bank.
With the launch of Webassurance the bank will be able to promptly serve the protection needs of its younger and net-savvy customers, he added.
“This initiative integrates together the digital capabilities of the bank and the company to provide a convenient and hassle-free option for the bank customers to fulfill their insurance needs. We are confident that this initiative will help further increase our reach into Canara Bank’s customer base and ensure we reach out with relevant solutions to all customers in the Canara Bank family,” said Anuj Mathur, Managing Director and CEO, Canara HSBC OBC Life.
Canara HSBC OBC Life is jointly owned insurance wing of two public sector banks including Canara Bank (51 per cent) and Oriental Bank of Commerce (23 per cent) and HSBC Insurance (Asia Pacific) Holdings (26 per cent), the Asian insurance arm of banking and financial services groups HSBC.