Standard Chartered Bank and Max Bupa today announced their bancassurance corporate agency arrangement to provide Max Bupa’s health insurance products to the bank's customers.
The arrangement comes on the back of the Insurance Regulatory and Development Authority guidelines that allow banks to sell policies of multiple insurers.
Standard Chartered will distribute Max Bupa’s health insurance products to its customers across its 99 branches spread over 42 cities in India.
Max Bupa will work with Standard Chartered Bank to ensure sales training, product support and smooth operational processes in order to offer Max Bupa’s health insurance products to customers seeking a health cover, said the company in a release.
Sanjeeb Chaudhuri, Regional Head, South Asia & Chief Marketing Officer, Consumer Banking, Standard Chartered Bank, said, “This arrangement will enable us to further augment the comprehensive range of third party products and services by offering innovative health insurance solutions of Max Bupa.”
The product suite will include Max Bupa’s flagship product Heartbeat, one of the most comprehensive offerings in the market with exclusive product and service propositions like coverage up to Rs 50 lakh, 24X7 customer service helpline, coverage for day care procedures, OPD benefit, among others.