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Enterprise agency agreement to strengthen the insurer’s reach in rural and urban areas.
Bajaj Allianz General Insurance and Bank of India have entered into an agency agreement under which the bank, through its network of branches and other facilities across the country, will distribute the products of the general insurer.
A range of personal product lines such as auto, health, home and travel insurance as well as the commercial product line including engineering and marine insurance will be offered to the bank’s customers as part of the ‘agreement. The aim is to provide Bank of India clients with various insurance solutions and enhanced customer experience by leveraging technology, the private insurer said.
Bank of India will distribute the insurance products through its network of 5,084 branches, 80 retail business centers and 60 SME city centers across the country.
Bajaj Allianz General Insurance Managing Director and CEO Tapan Singhel said the merger with Bank of India offers the insurance company an opportunity not only to strengthen its presence in urban areas, but also to improve distribution. in the most remote corners of the country. As important as raising awareness of the benefits of being insured to increase insurance penetration in the country, it is equally important to be present at every touchpoint where customers can access products, a t -he declares.
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