Bajaj Allianz Life Insurance, one of India's leading private life insurers, and South Indian Bank, a leading Indian private sector bank, announced their strategic partnership. The two signed a corporate agency arrangement in Kochi. Through this strategic partnership South Indian Bank's customers' can now fulfil their long-term life goals by investing in Bajaj Allianz Life Insurance's value-packed products across the bank's 942 branches in the country.
Mr. Sanchay Kumar Sinha, CGM & Country Head- Retail Banking Department, South Indian Bank signed the agreement with Bajaj Allianz Life Insurance.
Speaking on the partnership, Mr. Dheeraj Sehgal, Chief Distribution Officer - Institutional Business, Bajaj Allianz Life Insurance, said, "Bajaj Allianz Life and South Indian Bank have shared goals of empowering customers with a strong financial portfolio. This partnership will enable us to harness our combined reach and offer customers with investment and risk mitigation products all under one roof. We look forward to engaging with South Indian Bank's leaders and teams to provide them all the support they'd require, to ensure customers receive the best experience when they have purchased Bajaj Allianz Life's products to fulfil their financial goals."
Mr. Sanchay Kumar Sinha, CGM & Country Head- Retail Banking Department, South Indian Bank, "We are excited to partner with Bajaj Allianz Life Insurance, a trusted name in the life insurance industry, and provide their diverse range of life insurance solutions across our touchpoints. Through this alliance, we aim to strengthen our commitment to financial inclusion by making comprehensive insurance coverage easily accessible by all. We believe this partnership will empower our customers to invest in a disciplined and systematic manner to secure their financial future".
In addition to the comprehensive suite of products, Bajaj Allianz Life Insurance will also offer South Indian Bank's customers an extensive range of services to ensure they have a seamless experience. From customer service on Whatsapp, LifeAssist - the insurer's dedicate app, a website in over 10 languages, call centre and more, Bajaj Allianz Life's tech-enabled services are designed to provide a delightful experience to all customers. Furthermore, the insurer's new-age technology will integrate with the Bank's tech environment to ensure both teams are empowered to deliver the best for the customer.
Shares of The South Indian Bank Limited was last trading in BSE at Rs. 27.17 as compared to the previous close of Rs. 26.39. The total number of shares traded during the day was 7985471 in over 6262 trades.
The stock hit an intraday high of Rs. 27.40 and intraday low of 26.47. The net turnover during the day was Rs. 214278216.00.