RETAIL BANKING | Tony Chua, India

Central Bank of India and Chola MS General Insurance join forces

The bancassurance tie-up will offer simple and technology-enabled customized products.

Central Bank of India on Friday announced corporate agency tie-up with Cholamandalam MS General Insurance Company Limited to sell general insurance products at 3728 bank branches across the country. The products across personal and commercial lines of business will be customized for Central Bank of India to penetrate 75% of the bank's customer base.

Speaking on the occasion, Mr. M.V. Tanksale, Chairman & Managing Director of Central Bank of India said "We would like to offer hassle free and comprehensive general insurance products suited for the needs of our asset and liability customers in partnership with Chola MS and would look forward for full penetration among our customer base."

Simple and technology enabled customized products will be offered to bank's customers spread across metro, urban, semi-urban and rural bank branches. Many innovative initiatives like health camps, customer outreach programs and tele-marketing etc., will be conducted at the bank branches to operationalize this tie-up.

Central Bank of India has a vast exposure in the commercial lending to Corporates and SME's. Chola MS will work jointly with the bank team to tap these businesses for their insurance needs.

View the full story in India PR Wire.

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