J&K Bank recently signed a Corporate Agency Agreement with New India Assurance Co. Ltd (NIACL), the country’s leading general insurance provider, to provide its customers with comprehensive financial solutions.
The ceremony was chaired by the Bank’s Executive Director Sudhir Gupta, and General Manager (Cross Selling) Narjay Gupta where they signed the papers on behalf of the Bank, while General Manager (NIACL) Mukta Sharma signed for the company, in the presence of Deputy General Managers Sapna Gupta (Bank) and Kiran Jacob (NIACL), as well as senior officers from both organisations.
Speaking on the merger, Sudhir Gupta, Executive Director, J&K Bank said, “This strategic collaboration aims to enhance the scope of financial protection and insurance solutions offered to the Bank’s customers across various segments. Our Bank is the major financial institution in J&K & Ladakh with strategic pan India presence and NIACL is the leading general insurer in the country, so coming together of two giants, I am sure, will provide convenience and choice to our customers in terms of choosing variety of insurance products,” he said.
GM Narjay Gupta expressed hope that the timely collaboration between the two institutions will play a major role in bringing more and more individuals into the insurance fold.
“Through this partnership, we seek to extend a wide range of insurance products and services, catering to the diverse needs of our clientele. Now that we have started this journey, it is time to ensure customer satisfaction and securities remain at heart of our service delivery. We need to set a new benchmark of excellence in bank assurance industry for the greater good of our customers,” he said.
Mukta Sharma, General Manager, NIACL, stated, “J&K is on an upward trajectory in terms of economic progress and this is where both Bank and NIACL can work in tandem to ensure that most of assets created in the process are insured,” she added.
Notably, the latest agreement brings the number of Bank assurance partnerships to six, with three each in life and general insurance.
Through this collaboration, NIACL’s insurance products would be available at all Bank branches across India.
