ICICI Lombard inks Bancassurance alliance with AU Small Finance Bank

ICICI Lombard General Insurance, AU Small Finance Bank

ICICI Lombard General Insurance, India’s leading non-life insurance firm, has formed a Bancassurance partnership with AU Small Finance Bank. The collaboration would give the bank’s diversified customers access to the insurer’s portfolio while also increasing penetration across India.

AU Bank is aggressively extending its distribution footprints across India, and this collaboration between the two industry titans will strive to further enhance its general insurance offering with agile, digital, and paperless solutions provided by ICICI Lombard. The full product suite will be available across 980+ banking touchpoints spread over 20 states and two union territories. Customers and their families will benefit from customer-centric products in the long run. With both firms committed to providing the best possible service to their consumers through innovation and consistency, this collaboration would provide clients with the best of both worlds.

Speaking about the partnership, Sanjeev Mantri, Executive Director, of ICICI Lombard said, “At ICICI Lombard, we are in constant endeavour to provide consumers and businesses effective risk management solutions based on their evolving needs. As an industry leader, we are excited to partner with AU Small Finance Bank – India’s largest small finance bank, in providing customers a comprehensive product portfolio. This partnership will help further strengthen our distribution and unravel growth opportunities through the bank’s wide network. With our extensive range of customised solutions for risk management we are confident that we will be able to address varied customer segments across India.”

Highlighting the key aspects of this strategic partnership, Uttam Tibrewal, Executive Director, AU Small Finance Bank, said, “AU Small Finance Bank always prides in providing customer centric solutions and services. Expanding our bouquet of financial services and customer value proposition, we wanted to associate with additional general insurance partner to add value to our existing range of products & services while helping our customers plan for better financial security. We welcome ICICI Lombard as our valued insurance partner who, we believe, has the ability and experience to understand customers’ needs and offer them customized need-based solutions and provide seamless services. I am sure, the customer-friendly products of ICICI Lombard, combined with our extensive presence and robust technological capabilities, will be the right mix to increase insurance penetration.”

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