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Allahabad Bank Launches Super Healthcare Policy with Universal Sompo General Insurance Company

Posted On: 2020-01-06 22:44:47

Universal Sompo General Insurance Company Launches Super Health care policy with its Partner Bank i.e. Allahabad Bank.

The product is now available with Top Up & Super Top Up cover with Sum insured up to 1 crore. The product was launched by the Executive Director of Allahabad Bank Shri. K Ramachandran in presence of Chairman Universal Sompo General Insurance Company Shri. O. N. Singh. The Launch ceremony was recently conducted in Kolkata, it was witnessed by the GM's, DGM's & other bank Head Office staff.

Allahabad Bank Executive Director Shri. K Ramachandran praised the existing co-branded Health product & assured of further penetration among the Bank customer bases. He also highlighted the current Business situation of the Bank & appreciated the fee income which is generated through General Insurance channel by the Bank.

Chairman Universal Sompo GIC elaborated features of the newly launched Super Healthcare policy (Top Up & Super Top Up) which has sum Insured up to Rs. 1 Cr with free restore benefit. Policy covers Ayush treatment, wellness benefit & it has no sublimit or co-pay.

The Policy is designed to counter medical inflation through guaranteed cumulative bonus. Universal Sompo GIC has always ensured that quality healthcare remains affordable to its customers.

The policy is designed to benefit its loyal customer (having Allahabad Retail Health policy) with additional premium discount of 5%. Further it was assured that required training; manpower support will be extended by Universal Sompo team to the Bank. He also emphasized the business focus should be on the retail customer segment for higher product distribution & spreading the benefits of Health insurance.

Universal Sompo GIC shall very soon start issuance of policy online. Pocket friendly premium, shall help Universal Sompo penetrate the rural markets & potential market of tier 2 & tier 3 cities.

Shares of ALLAHABAD BANK was last trading in BSE at Rs.18.45 as compared to the previous close of Rs. 18.9. The total number of shares traded during the day was 141648 in over 1255 trades.

The stock hit an intraday high of Rs. 19.1 and intraday low of 18.3. The net turnover during the day was Rs. 2639650.

Source: Equity Bulls

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