Aditya Birla Health Insurance Co. Limited (ABHICL) announced a Bancassurance partnership with City Union Bank (CUB) on Wednesday, to distribute its health insurance products through the bank’s network of branches across the country.
More than 4.4 million customers of the private sector bank will now have access to the comprehensive suite of health insurance plans and other offerings by ABHICL which is the health insurance subsidiary of Aditya Birla Capital Limited (ABCL).
The industry-first innovative solutions by ABHICL, which will be available for CUB’s customers, include a Day 1 cover for asthma, high blood pressure, high cholesterol, diabetes; wellness coaching on nutrition and fitness; counselling on mental health; incentivized wellness benefits of up to 100% Health ReturnsTM and chronic management program, amid others.
Mayank Bathwal, the CEO of Aditya Birla Health Insurance, expressed delight over partnering with the oldest private sector bank in India. Stating the benefits of this association for them, he said, “It will expand our reach and enable us to leverage City Union Bank’s robust network in Tamil Nadu and other southern states. The partnership will help us to further unchain the insurance market in tier II and tier III cities and increase insurance penetration in the country.”
He further added that through this alliance, the bank’s customers will be enabled to choose from the health insurance provider’s comprehensive product portfolio and also benefit from their ‘Health First’ offerings.
Dr. N Kamakodi, the Managing Director and CEO of City Union Bank, believes that this collaboration will bring the best of health insurance products for their customers. “This partnership has come at a right time when awareness about the importance of health insurance is on the rise in the post pandemic world and we will certainly be able to fulfill the health insurance needs of our customers,” he added.
CUB has over 727 branches spread across 153 districts in India, with a significant presence in the South. ABHI, on the other hand, has a diversified presence in 4790 cities of India with 183 branches.
The bank’s customers will benefit from a varied range of new-age products offered by Aditya Birla Health to ensure a healthy life for themselves and their loved ones. With this new partnership, ABHI now has 13 Bancassurance partners with over 63,000+ direct selling agents all over India.
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