Live
- Istanbul nabs over 240 illegal migrants
- BJP slams Mehbooba Mufti for remark on Indus Water Treaty
- Global brokerage CLSA shifts ‘tactical allocation’ to India from China
- Punjab AAP opposes Haryana’s proposal to set up Assembly complex in Chandigarh
- Istanbul nabs over 240 illegal migrants
- Haryana CM takes dig at Punjab counterpart on setting up of new legislative Assembly
- Avvatar India and Spartan Race Kick Off India’s Ultimate Fitness Challenge in Bengaluru
- CM Revanth Reddy Pays Tribute to Guru Nanak on His Birth Anniversary
- ‘Matka’ clears censor: run-time locked
- ‘Kubera’ first glimpse looks interesting
BoB, Max Bupa ink pact
Bank of Baroda (BoB), the second-largest public sector bank in the country, has entered into a bancassurance corporate agency agreement with specialist health insurer Max Bupa. The pact envisages offering comprehensive health insurance plans to the former’s 60 million customers across the country.
Hyderabad: Bank of Baroda (BoB), the second-largest public sector bank in the country, has entered into a bancassurance corporate agency agreement with specialist health insurer Max Bupa. The pact envisages offering comprehensive health insurance plans to the former’s 60 million customers across the country.
The arrangement comes on the back of the Insurance Regulatory and Development Authority (Irda)’s guidelines which permits banks to tie up with multiple insurers to distribute insurance products and to bolster the penetration of health insurance in the country, which is currently between five per cent and seven per cent.
In the initial phase, Max Bupa will provide customisable product variants, with the sum insured ranging from Rs 50,000 to Rs 1 crore, to the 60 million savings account and loans customers of the bank. The offerings will include indemnity as well as fixed benefit plans.
Besides enabling instant, over-the-counter policy issuance of health policies across all the customer touch points including branches, website, apps and e- lobbies, Max Bupa will facilitate value-added health services like second medical opinion and access to a host of health and wellness apps, it added.
