AU Small Finance Bank Partners with United India Insurance for Insurance Distribution
By Rediff Money Desk, New Delhi Sep 06, 2024 20:37
AU Small Finance Bank and United India Insurance have partnered to offer general insurance solutions to customers across India, including motor, personal accident, and crop insurance.
New Delhi, Sep 6 (PTI) AU Small Finance Bank (AU SFB) and state-owned United India Insurance Company (UIIC) on Friday announced a strategic partnership to distribute general insurance solutions to the bank's customers.
It includes motor insurance, personal accident insurance, crop insurance, property insurance, shopkeeper insurance, cyber incident insurance, and more, a joint statement said.
This collaboration positions AU SFB as a preferred choice for its diverse customer base across 21 states and 4 union territories, offering reliable and affordable general insurance solutions, it said.
The partnership leverages UIIC's vast network of branches in over 1,000 tier 2 and tier 3 locations, aligning with AU SFB's expanding infrastructure and growing customer portfolio, it said.
AU SFB, having recently filed for a universal banking license with the Reserve Bank of India (RBI), is now focused on enhancing its bancassurance portfolio to offer innovative, technology-enabled insurance solutions to its customer base of over 1 crore, across all segments, it added.
It includes motor insurance, personal accident insurance, crop insurance, property insurance, shopkeeper insurance, cyber incident insurance, and more, a joint statement said.
This collaboration positions AU SFB as a preferred choice for its diverse customer base across 21 states and 4 union territories, offering reliable and affordable general insurance solutions, it said.
The partnership leverages UIIC's vast network of branches in over 1,000 tier 2 and tier 3 locations, aligning with AU SFB's expanding infrastructure and growing customer portfolio, it said.
AU SFB, having recently filed for a universal banking license with the Reserve Bank of India (RBI), is now focused on enhancing its bancassurance portfolio to offer innovative, technology-enabled insurance solutions to its customer base of over 1 crore, across all segments, it added.
Source: PTI
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