Tuesday, February 11, 2014

Max Bupa to enter into bancassurance tie-up with Standard Chartered

Standalone health insurer Max Bupa has tied-up with Standard Chartered Bank to distribute its health insurance products to bank's customers under bancassurance arrangement. At present Standard Chartered Bank has about 99 branches spread over 42 cities across the country.

“This relationship is an important milestone for us as bancassurance is an important part of our growth strategy," Max Bupa CEO Mr. Manasije Mishra said in a release.

Max Bupa will work with Standard Chartered Bank to ensure sales training, product support and smooth operational processes in order to offer health insurance products to customers seeking a health cover.

“This arrangement will enable us to further augment the comprehensive range of third party products and services by offering Max Bupa health insurance solutions. We are confident that this will be a mutually beneficial relationship", said Mr. Sanjeeb Chaudhuri, Regional Head (South Asia) and Chief Marketing Officer (Consumer Banking), Standard Chartered Bank.

Private sector insurance player Max Bupa Health Insurance Company Limited is a joint venture between diversified business firm Max India and Bupa Finance plc, a UK-based international healthcare provider.

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