Bajaj Allianz General Insurance, one of India’s leading private general insurers, and Jammu and Kashmir Bank (J&K Bank), one of the oldest private banks in the country, today celebrated their 20-year distribution alliance of non-life insurance products through the bank’s extensive network of 975 branches across India.
For the past 20 years, Bajaj Allianz General Insurance, through this strategic agreement, has offered the bank’s customers insurance products such as health, auto, home, property, accident personal, merchant insurance policies, among others.
Through this rewarding two-decade partnership, Bajaj Allianz and J&K Bank have supported the citizens of the J&K Union Territory through tumultuous natural calamities such as the floods seen in Leh, Keran, Jammu, Kashmir and Tangdhar, as well as only devastating earthquakes observed in places. like Uri, Kashmir and Kishtwar among others. One such event was witnessed during the 2014 floods where claims worth over INR 1,100 crore were settled thereby protecting vulnerable citizens from J&K. This 20-year-old association has managed to secure the lives of nearly 40 Lakh citizens with settled claims of over INR 1700 Crore from nearly 2 Lakh citizens.
Commenting on the occasion, Mr. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said, “Our partnership with Jammu and Kashmir Bank was among the first Bancassurance tie-ups in the country, and even today after 2 decades, the bond between us continues to grow every day! It is our shared obsession to make a difference in people’s lives that drives this collaboration. Through our association, we have together secured the lives of nearly 40,000 Indians and paid claims of over INR 1,700 Cr. while wiping away the tears of almost 2 lake patrons and supporting them through earthquakes, floods and many other calamities. As we look to the next 20 years, we are confident that this partnership will only blossom further and continue to make a difference to the citizens of our country!”
Sharing his thoughts on the occasion, Baldev Prakash, MD and CEO of J&K Bank said, “The 2014 floods not only redefined our relationship, but also showed our mutual commitment to maintaining and strengthening the trust placed in us by our customers. . Today, we view this relationship with satisfaction as it has stood the test of time and met the demands of mutual business.
The main objectives of our future focus will be improving customer services leading to customer satisfaction and increasing our insurance revenues. Concretely, I am confident that we will double the activity and revenues of the general insurance segment over the next few years.
With twenty years of association and experience coupled with the renewed importance that insurance has gained over time, I believe that our mutual relationship has matured enough to go beyond fruition and blossom into time to come.”
The announcement, along with the celebration of a landmark partnership, also symbolizes the consolidation of a long-term partnership between Bajaj Allianz General Insurance and J&K Bank. Bajaj Allianz will continue to provide customer-centric insurance products by delivering superior value and service to policyholders. The partnership strives to continue to secure the lives of valley citizens with valuable insurance solutions.
J&K – Jammu & Kashmir Bank Ltd. published this content on June 03, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on Jun 04, 2022 09:51:03 UTC.