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July 20, 2022

DBS Bank to distribute Bajaj Allianz’s life insurance products in India

The Indian subsidiary of Singapore’s DBS Bank has formed a strategic partnership with Bajaj Allianz Life Insurance to provide life insurance solutions to its customers.

The collaboration aims to target DBS Bank India ’s thee million customers.

As part of the new corporate agency agreement, Bajaj Allianz Life and DBS Bank intend to provide life insurance solutions that comply with the customer’s requirements in a planned way.

Both the current and future customers can select various Bajaj Allianz Life’s retail offerings such as term, savings, retirement, and investment products through DBS Bank’s branches situated at more than 550 locations.

Bajaj Allianz Life Insurance MD and CEO Tarun Chugh said: “This is a prestigious partnership and we are glad to offer powerful and value-packed products backed by new-age efficient services for the large customer base at the Bank.

“I’m confident that with our collective focus on customer delight the team will set higher benchmarks in the industry, while enabling many more life goals.”

Based in India, Bajaj Allianz Life Insurance is a private life insurer that serves its customers from its 509 branches, as well as a network of more than 96,000 agents.

DBS Bank India MD and consumer banking group head Prashant Joshi said: “Our partnership with Bajaj Allianz Life will pave the way for all DBS Bank customers to enjoy comprehensive end-to-end life insurance solutions.

“Customers across the 550+ physical network of DBS as well as digibank users will be able to avail all the offerings by either visiting any of our branches or with just a tap on the app.

“This initiative is a part of our ongoing endeavour to support every customer in securing a financially sound future with us.”

Last month, DBS Bank India, along with Bajaj Finance, announced the introduction of its first credit card in India.

Powered by Visa, the card has been co-branded as Bajaj Finserv DBS Bank SuperCard.

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