Karnataka Bank has launched a unique QR code based two wheeler insurance product in association with Bajaj Allianz General Insurance Company. With this digital initiative, a paperless and instant two wheeler insurance policy can be issued in two minutes.
The two wheelers is one of the biggest segments in automobile industry in the country which is growing exponentially year after year. However, the two wheeler insurance penetration is just 25%, which indicate great business opportunity for this line of business.
Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.
