Kochi: Bajaj Allianz Life Insurance, one of India’s leading private life insurers, has renewed the corporate agency agreement with Dhanlaxmi Bank, one of the oldest private sector banks in India. The firms have extended their long-standing partnership yet again for a further period.
Under the agreement, Dhanlaxmi Bank will continue to sell life insurance products of Bajaj Allianz Life Insurance. The relationship between Bajaj Allianz Life Insurance and Dhanlaxmi Bank goes back to 2009, when the latter started selling customised insurance solutions provided by Bajaj Allianz Life Insurance to its customers. As a corporate agent partner, Dhanlaxmi Bank has done a business of Rs. 365 crore till date for Bajaj Allianz Life Insurance.
The bank has more than 644 touch points across Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Maharashtra, Goa, Gujarat, Rajasthan, Delhi, Punjab, Haryana, Madhya Pradesh, Uttar Pradesh and West Bengal. Both Bajaj Allianz Life Insurance and Dhanlaxmi Bank resonate expertise in the field of financial services and are committed to provide customised financial solutions to their customers.
The agreement was signed at the bank’s office in Guruvayur, Kerala, by Ramchandra Pandit, Head, Bancassurance, Bajaj Allianz Life Insurance; and Manikandan P, Chief General Manager, Dhanalaxmi Bank. Commenting on the development, Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance, said: “Dhanlaxmi Bank has been one of our valued partners for nearly a decade now and the association has been advantageous for both the partners. We intend to continue the strong partner relationship and expand our customer reach through the bank’s wide network.”
G Sreeram, MD & CEO, Dhanalaxmi Bank, said: “We are glad to continue our long-standing association with Bajaj Allianz Life Insurance. It has enabled us to provide need-based investment and protection solutions to our customers and add value to their lives.”