On July 6, 2020, Karur Vysya Bank (KVB), a Scheduled Commercial Bank in India has joined hands with Star Health and Allied Insurance Co Ltd for bancassurance (selling of life assurance and other insurance products and services by bank).
- As per the pact, KVB will market wide range health insurance products of the Star Health through its 780 branches.
- In addition, all bank customers will be able to access value-added services like STAR WELLNESS and get telehealth consultation using TALK TO STAR.
What is bancassurance?
Bancassurance is a partnership between a bank and an insurance company, where the bank sells the tied insurance company’s insurance products to its clients.
About Karur Vysya Bank:
Headquarters– Karur, Tamil Nadu.
President & Chief Operating Officer(COO)- Natarajan Jagannathan
Tagline– Smart Way to Bank
About Star Health and Allied Insurance:
Headquarters– Chennai, Tamil Nadu
Chairman & CEO – Mr. V. Jagannathan