Mumbai: AU Small Finance Bank has entered into two distribution partnerships with two insurance companies – Bajaj Allianz Life Insurance and Star Health and Allied Insurance.
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The Jaipur-headquartered small finance bank will distribute the insurance products of these two companies through its network of 1,038 touchpoints. The bank has a customer base of 41 lakh. In addition to this the company will also offer the insurance products through its digital channels.
In the case of Bajaj Allianz Life Insurance, AU SFB will distribute the term insurance, savings and retirement products. According to Tarun Chugh, MD & CEO, Bajaj Allianz, this would be a long-term partnership backed by top-tier, new age services and digital first approach.
In the case of the bancassurance partnership with Star Health, AU SFB will distribute health plans.
“Our strategic tie-up is a step further in making health insurance accessible to all. AU Small Finance Bank’s extensive presence in small towns and rural markets across the country will enhance Star Health’s reach,” said Anand Roy, MD & CEO, Star Health and Allied Insurance.
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AU started its banking operations in April 2017 and as on 30th June 2023, it has a presence in 21 States and 3 Union Territories with an employee base of 28,446 employees.
