Max Bupa Health Insurance Company has signed an insurance distribution agreement with India-based public sector lender Indian Bank to market its health insurance plans to bank’s customers.
As per the terms of the bancassurance pact, Max Bupa will offer its health insurance products and services to Indian Bank’s 40 million customers using a network of 2800 branches across the country.
Max Bupa, a joint venture formed in 2008 by Max India and UK’s Bupa Finance, will provide retail and group health insurance plans along with indemnity and fixed benefit products.
Max Bupa managing director and CEO Ashish Mehrotra told The Hindu BusinessLine: “We are extremely delighted to partner with Indian Bank and are committed to help over 40 million customers of the bank lead healthier, more successful lives.
“With growing incidences of lifestyle diseases, health insurance has become one of the most important investments for people today. With our tie up with Indian Bank, we are offering our customisable health insurance solutions to Indian Bank’s strong customer base spread across the country.”
The health insurer has developed a digital platform for the customers of Indian Bank, aimed to improving overall experience while buying health insurance plans.
Additionally, Max Bupa is combining its proprietary digital platform ‘Infinity’ with the bank’s systems. It will allow the bank’s customers to buying the insurance plans seamlessly.
Also, Max Bupa will provide its digital seller application known as InstaInsure that will enable the bank to sell Max Bupa insurance plans using handheld devices.