New India, Star Union, BoI tie up

Bank of India has partnered with insurance companies New India Assurance Co and Star Union Dai-ichi Life Insurance to roll out the government’s social security insurance schemes.“The New India Assurance and Star Union Dai-ichi Life Insurance Company will issue a group policy to the bank and the policy would start on June 1, 2015 for one year. Enrolment is likely to start from May 1,” the bank said in a statement. It added, “No proposal form is required from accountholders. An accountholder has to give auto-debit request form to the bank and will get acknowledgement- cum-certificate by the bank immediately. The claim request will be forwarded through the respective bank branch for settlement of claim.”