J&K Bank renews Tie-up with Bajaj Allianz

Srinagar, Oct 3: Cementing their business relations further, J&K Bank and Bajaj Allianz General Insurance Company Ltd (BAGICL) have renewed their Bancassurance tie-up for three more years. The business association between the two has already completed 14 years of trust and understanding.
In presence of Executive President Parvez Ahmad and Senior President S K Bhat, the bank’s Vice President (Insurance) Chetan Paljor signed the Memorandum of Understanding (MOU) with President and Chief Marketing Officer BAGICL Anamika Roy Rashtrawar here at the bank’s headquarters in Srinagar. Regional Head (J&K/Punjab), BAGICL Aijaz Ahmad Khan was also present on the occasion.
Speaking on the occasion, Executive President Parvez Ahmad said, “I am glad to be taking our partnership with BAGICL forward for another 3 years. We value our partnership with the company for, during the deluge aftermath last year, they stood by us by paying the claims of our customers in time thus helping them in rebuilding their lives.”
“Thus pursuing the policy that places customers’ convenience at the center of our strategy and operations, I hope the tie-up would only prove better in future for our valuable customers”, he added.
Present on the occasion President and Chief Marketing Officer BAGICL Ms. Anamika Roy Rashtrawar said, “We are extremely delighted to renew our partnership with J&K Bank, a leading financial services provider and a household name in the Valley. This partnership has helped us provide insurance solutions to a large number of people in J&K over the years. The testimony to our strong partnership was the fact that Bajaj Allianz was able to reach out to its customers and pay over 28,000 claims worth Rs. 1,000 crore with the support of the bank in the aftermath of the floods last year.”
“Hopefully, the renewed tie-up with J&K Bank will enable them to continue providing the best insurance solutions to the people of the Valley in the coming days”, she added.
In response to the suggestions put forth by Bank, Anamika Roy Rashtrawar agreed to introduce slew of measures aimed at adding to the delight of customers which include leveraging of technology to issue policies on real time basis, imparting training to their own people and also to employees of Bank regarding the latest developments and innovations in insurance industry. Besides, she also hinted at introduction of new products in health insurance tailored to bring low-income group among our customers under the canopy.
Meanwhile, through this alliance, the bank shall continue to act as a corporate agent to Bajaj Allianz General Insurance and sell their insurance products which include motor, health, home insurance and personal accident covers etc. to its customers.