Axis Bank, India's third largest private sector bank has entered into a strategic agreement with Tata AIG General Insurance whereby the bank will act as a corporate agent for general insurance. As per the agreement, Tata AIG will offer general insurance products to the bank’s customers. This initiative by the bank is also aimed at enhancing insurance cover options.
Through this partnership, various insurance policies providing protection for a range of insurance needs including motor, health, travel and property can be availed by the banks customer. The products would be available at the bank’s retail branches across the country and through direct marketing channels such as online and mailers.
The partnership is beneficial to both the parties as the general insurance company will be able to tap the bank's customer while its products will complement the bank’s existing financial offerings.
