Karur Vysya Bank partners with Aditya Birla Health Insurance
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
by Shrutee K/DNS
Mumbai, 04 June, 2018: 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.
About Karur
Vysya Bank: The Karur Vysya Bank Limited, popularly known as KVB, was set up in 1916
by two great visionaries and illustrious sons of Karur, the Late Shri M A
Venkatarama Chettiar and the Late Shri Athi Krishna Chettiar to provide
financial assistance to traders and small agriculturists in and around Karur, a
textile town in Tamil Nadu. The bank is professionally managed and
guided by the Board of Directors drawn from different fields with vision,
experience, knowledge and business acumen.
The bank
presently has a pan India branch network of 790 with as many as 1800 ATMs and
530 cash deposit machines. The bank has
leveraged technology to deliver value based services to the clients and
consistent updation of the tech process is the key to the bank’s success. The bank is currently working on providing a
digital solution that will provide
sanctions for it retail and commercial loans in less than half an hour.
About Aditya Birla Health Insurance Limited,
an Aditya Birla Capital Company: Aditya Birla Health Insurance Co.
Limited (“ABHICL”) was incorporated in
2015 as a 51:49 joint venture between MMI Strategic Investments (Pty) Ltd, MMI
Holdings Limited, Aditya Birla Nuvo Limited and Aditya Birla Capital Limited
(ABCL - Formerly known as Aditya Birla Financial Services Limited). ABHICL
commenced its operations in October 2016 and is engaged in the business of
health insurance. ABHICL’s current product portfolio includes unique offerings
including chronic care and incentivized wellness.
As on FY17-18 end, ABHICL
recorded a gross premium income of Rs. 2,431 Mn and have covered more than 1 Mn
lives. ABHICL has a nation-wide distribution presence across 36 cities, 5
bancassurance partners, over 15,684 direct selling agents and 1390 employees.
Aditya Birla Capital Limited (ABCL) is the holding company of all the
financial services businesses of the Aditya Birla Group. With a strong presence
across the life insurance, asset management, private equity, corporate lending,
structured finance, project finance, general insurance broking, wealth
management, equity, currency and commodity broking, online personal finance
management, housing finance, pension fund management and health insurance
business, ABCL is committed to serving the end-to-end financial services needs
of its retail and corporate customers under a unified brand — Aditya Birla Capital.
Anchored by more
than 14,500 employees, ABCL has a nationwide reach through over 1,500 points of
presence and more than 150,000 agent’s / channel partners. Aditya Birla Capital
manages, through its subsidiaries and joint ventures, aggregate assets worth
Rs. 2,999 billion and has a lending book of Rs. 465 billion as of December 31st,
2017, placing it among the top 5 private diversified NBFCs in India (Source:
CRISIL), the 4th largest assets management company in India by
domestic AAUM as published by AMFI for the quarter ended December 2017. adityabirlahealthinsurance.com
About
MMI Holdings: MMI
Holdings Limited (MMI) is a South African based financial services group listed
on the South African stock exchange, the JSE.
The group operates in the market through multiple client-facing brands
including insurance and investment brands Metropolitan and Momentum, South
Africa’s number one cell captive insurer Guardrisk and wellness & rewards
programme Multiply. MMI operates in 17 countries across the globe: 13 in the
African continent, Hong Kong, Indonesia, United Kingdom, and India through a
direct presence, strategic partnerships and joint ventures. Visit us at www.mmiholdings.co.za
Aditya Birla payment Bank Customer Care Helpline toll free number:09064532877. 08002230533. 07091321191. 07091080641. 08877036962 in any queries any problem contact your assistance 24×7 hours Contact customer care number09064532877. 08002230533. 07091321191. 07091080641. 08877036962
ReplyDeleteKarur Vysya Bank Customer Care Helpline toll free number:09064532877. 08002230533. 07091321191. 07091080641. 08877036962 in any queries any problem contact your assistance 24×7 hours Contact customer care number09064532877. 08002230533. 07091321191. 07091080641. 08877036962
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