IndusInd Bank has recently signed a corporate agency agreement with Reliance General Insurance, with the objective to distribute multiple options of general insurance products to its customers. With this partnership, Reliance General Insurance has extended its distribution channels and will distribute its insurance products across all the branches of IndusInd Bank. This is the first tie-up on bancassurance post the recent multi bank partner guidelines issued by IRDAI. Sumant Kathpalia, head – Consumer Banking, IndusInd Bank, said the best-in-class product suite will cater to today’s consumer needs. These insurance products are backed with technological innovations, thereby providing convenience to clients. Moreover, this partnership will go a long way in providing comprehensive and all-encompassing solutions to the bank’s customers. Rakesh Jain, CEO, Reliance General Insurance said the bancassurance channel has potential to reach out to the last mile and serve untapped markets thereby promoting the insurance penetration in India.
