BANGALORE: Future Generali Life Insurance and Karnataka State Co-operative Apex Bank has declared their bancassurance collaboration. Karnataka State Co-operative Apex Bank is an apex institution of 21-DCC banks in the state.
Through this partnership, the insurer is aiming to expand its reach in the region. Mr Deepak Sood, Managing Director and CEO, Future Generali Life Insurance, said, “We have so far tied up with seven co-operative banks for bancassurance, and this is our eighth tie-up. Tie-ups with small local banks would give us an opportunity to penetrate into the semi-urban and rural areas.”
Mr Sood also said that the seven co-operative banks are situated in Uttar Pradesh, Punjab and Maharashtra. The insurance company is planning to get region-specific insurance solutions for the state.
Mr HS Nagarajaiah, Secretary, Karnataka State Co-operative Apex Bank, has stated that partnership is part of the bank's expansion plans.