Federal Bank’s extensive network will offer Tata AIA the chance to further establish its footprint in the Indian market. In the announcement, both entities emphasised their commitment to technology-enabled, consumer centric business models.
According to reports, Federal Bank’s customers will benefit from Tata AIA’s innovative solutions which include term savings, wealth creation plans, retirement, and pension solutions. They will also have access to Tata’s innovative solutions such as ‘Param Rakshak’ which offers triple benefits of high life cover, market-linked returns and health/wellness perks. The solutions are enabled through Tata’s best-in-class technology solutions.
Shalini Warrier, Executive Director of the Bank commented, saying: “We are pleased to announce a strategic Corporate Agency Bancassurance partnership with TATA AIA Life Insurance Company. This partnership aims to bring the best of insurance products to our valued customers. It is a well-known fact that the penetration of insurance amongst Indian consumers is low, and through this partnership, the Bank aims to enhance financial security and wealth management for our customers. The coming together of these two revered brands reflects our commitment to always exceeding customer expectations.”
Ramesh Viswanathan, Chief Distribution Officer at Tata AIA Life Insurance also stated: “At Tata AIA, our endeavour is to partner our consumers, giving them access to best-in-class life insurance solutions, backed by empathy led service experience, to enable them to live a fikar-free life. We are delighted to enter a long-term relationship with a reputed and technology savvy bank like Federal Bank.”
He went on to add: “This association will enable us to offer our diverse insurance solutions to the bank’s customers, empowering them to fulfil their aspirations and secure their loved ones across all stages of life.”
