Aditya Birla Health Insurance Co. Limited. (ABHICL) on Thursday said it has signed a bancassurance agreement with Utkarsh Small Finance Bank for distribution of health insurance products through the lender’s network of branches across India.
“Through this alliance with Utkarsh Small Finance Bank, Aditya Birla Health Insurance’s comprehensive suite of health insurance plans, including protection health plans, will be available for purchase to 2.7 million+ customers of the Bank across 642 branches in 214 districts spread across 19 states and 2 Union Territories in the country,” the insurer, a subsidiary of Aditya Birla Capital Ltd., said in a press release.
Mayank Bathwal, chief executive, Aditya Birla Health Insurance, said, “ This bancassurance partnership will help further strengthen our distribution and unlock growth opportunities through the Bank’s wide network. This tie-up will help us reach the tier II and tier III markets with insurance solutions thereby increasing insurance penetration in the country.”
Aditya Birla Health has 175 branches in India and has a diversified presence in 2,800 cities spread across the length and breadth of the country. With a vast network of more than 9,500 hospitals, the company can provide health insurance facilities to the deeper and underpenetrated parts of the country.
With this new partnership, Aditya Birla Health now has 12 bancassurance partners with over 51,120+ direct selling agents all over India, as per the press release.