•The collaboration aims at combining synergies to enhance the reach of health-based protection solutions to the varied customer segments of Karur Vysya Bank
•Through unique offerings, ABHICL shall be able to cover wide range of customers base at Karur Vysya Bank
Mumbai, 05 June, 2018 (GPN) : Aditya Birla Health Insurance Co. Limited. (ABHICL), the Health Insurance arm of Aditya Birla Capital Limited today announced a corporate-agency partnership with India’s leading private sector Bank – Karur Vysya Bank (KVB).
Aditya Birla Health Insurance will market its retail and group products with world-class features to suit the needs of Karur Vysya Bank customers from all socio-economic segments across all its business channels.
Commenting on the development, P R Seshadri, MD & CEO, Karur Vysya Bank said “ As we live longer, happier and more purposeful lives, we must ensure that we have access to the miracles of modern medicine. As medicine becomes more competent in treating ailments, it becomes more expensive. We are pleased to have tied up with Aditya Birla Health Insurance – a leading health insurer and a trusted Indian name – to offer world class health insurance to our customers – individuals, small businesses and corporates – to help ensure long and fulfilling lives for all our customers.”
KVB has, after assessing various options, decided to go with Aditya Birla Health Insurance as one such partner. They offer a combo of compelling product proposition and strong market reputation, which we are certain would appeal to our customers.
We are sure that this arrangement will be mutually beneficial to both our companies as KVB will be able to add one more service to its bouquet, while ABHICL will be able to access millions of our customers, especially in the Tier I, II & III centres, where KVB has significant presence.”
Mayank Bathwal, CEO, Aditya Birla Health Insurance Company Limited said “We are delighted to have Karur Vysya Bank, one of the most trusted brands in the banking sector as our bancassurance partners. Owing to the huge opportunity and low penetration in the health insurance segment, we believe through this strategic tie-up and our robust product offering we shall be able to cover wide range of the customers at Karur Vysya Bank.
He further added, “A ubiquitous awareness, product innovation, customer engagement, and technology prowess are the hallmarks of brand ABHICL, and our focus is to provide need-based health insurance solutions and sustain the trust of customers’ of the bank.”
ABHICL has been strengthening its distribution reach and is adopting and maintaining a wide range of innovations to cater both in urban and rural areas in the country. ABHICL are catering a diverse segment of customers from those suffering from critical illness or health anxious people worried about deteriorating health to customers who are completely fit and healthy, by offering tailor-made solutions for individuals in the particular segment.
ABHICL would also be leveraging KVB’s physical and digital assets to create deeper penetration. This collaboration is a step towards further strengthening its distribution reach to cater relevant health protection solutions to the individuals in the country.
KVB is committed to giving the best services to its customers, and when an area as significant as health insurance is concerned, the bank would like its partner to take good care of customers’ needs and respond positively to their grievances. KVB plans to offer health insurance to its customers across all its 790 branches. Leveraging its presence in semi-urban and rural areas, KVB is confident that ABHICL will be able to provide affordable insurance products, customized to the requirements of its clientele even in small centres. Technology will play a vital role in ensuring that the products reach KVB’s customers seamlessly and both the companies are geared up on this front.ENDS