India-based commercial lender Karur Vysya Bank (KVB) has inked a bancassurance deal with Star Health and Allied Insurance.
As a part of this agreement, Star Health will offer its health insurance solutions to the bank’s customers.
Customers of the bank will be able to digitally purchase health insurance plans offered by Star Health and Allied Insurance.
Moreover, the insurer will also provide customers access to value-added services like ‘Star Wellness’ and telehealth consultation via ‘Talk to Star’.
Commenting on the partnership, Star Health and Allied Insurance managing director Anand Roy said: “The Covid-19 pandemic has brought to the fore the need for a health insurance cover for all.
“We are happy to tie up with Karur Vysya Bank and offer a wide variety of need-based health insurance policies for the bank’s customers.”
Founded in 1916, the Tamil Nadu-headquartered bank has 780 branches across the country.
The bancassurance solutions will be available through all these branches.
KVB customers can also purchase the insurance solutions through IRDAI-certified and trained personnel appointed by the bank across its branch network.
Karur Vysya Bank president and COO J. Natarajan said: “Karur Vysya Bank is happy to partner with Star Health & Allied Insurance. As the first standalone health insurance company in India, they bring a lot of value with their products.
“We are sure that they will provide both cost-effective insurance products and quick settlement of claims to our customers.”