On July 07, 2021, Axis Bank, the country’s third-largest private sector bank, entered into a bancassurance partnership with Max Bupa Health Insurance to provide comprehensive health insurance solutions to its customers and employees.
i.Under the partnership, Max Bupa will offer indemnity as well as fixed benefit products, and their customizable variants to the bank’s customers across the country.
ii.The Axis Bank customers are also enabled to get access to quality healthcare solution products that are offered by Max Bupa through the tie-up.
iii.The Health Insurance would cover medical emergencies in Tier 1, Tier 2 and Tier 3 cities.
iv.Focus of the partnership: Customer-centricity, Product innovation, Digitisation, Execution, and fueling growth for the next phase.
v.Bancassurance – It is a partnership between a bank and an insurance company that would enable them to offer insurance products to the bank’s customers.
Note – Axis Bank also has an existing health insurance tie-up with Aditya Birla Health Insurance.
Recent Related News:
On March 10, 2021, Axis Bank became India’s first bank after launching its own wearable payment device named ‘Wear ‘N’ Pay’, to make contactless transactions. It includes a variety of accessories like the band, key chain, and watch loop.
About Axis Bank:
Establishment –1993 (Commenced operation –1994)
MD & CEO – Amitabh Chaudhry
Headquarters – Mumbai, Maharashtra
Tagline – Badhtika Naam Zindagi
About Max Bupa Health Insurance:
It is a joint venture between True North and Bupa, a UK based healthcare services entity.
Headquarters – Gurugram, Haryana
MD & CEO – Krishnan Ramachandran