AU Small Finance Bank (AU SFB) and Bajaj Allianz Life Insurance on Friday announced their strategic partnership. This collaboration will empower a diverse range of AU Small Finance Bank's customers to gain access to Bajaj Allianz Life’s life insurance products, thereby addressing their imperative need for financial security, the lender said in a statement.

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Uttam Tibrewal, Executive Director of AU Small Finance Bank and Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance signed the agreement and announced their strategic partnership, at an event. Through this partnership, the bank aims to leverage technology-based solutions for its customers through wide variety of life insurance products offered by Bajaj Allianz Life Insurance.

Speaking on the partnership, Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance, said, “This partnership will make our insurance products available to a significantly larger customer base across the 1,038 touchpoints of the bank. Backed by top-tier, new-age services and a digital first approach, we are well placed to enable our customers in achieving their financial aspirations."

Uttam Tibrewal, Executive Director, AU Small Finance Bank said, "As we expand our financial offerings in the bancassurance segment, our goal was to partner with a life insurance partner that can complement our products and aid customers in financial planning. Bajaj Allianz Life is a trusted name in life insurance and by merging our robust distribution network with Bajaj Allianz Life’s diverse product portfolio, we endeavor to provide a wider range of choices to our customers. For us, it will be “Banking Bhi, Bima Bhi."

Through this partnership, new and existing customers of the bank can now choose from Bajaj Allianz Life’s retail products including term, savings, retirement, and investment products. Furthermore, the life insurer will also work closely with the bank to offer seamless service options to the customers. This includes response on queries using Whatsapp, ChatBot on AU digital platforms, along with well-trained bank staff managing the life insurance business, the lender said.

(Edited by : Anshul)

First Published:Sept 8, 2023 4:27 PM IST