Future Generali India Insurance Company has entered into a corporate agency tie-up with UCO Bank to offer its health and personal accident, motor, travel, home and rural insurance products across the bank's 3,050 branches.
KG Krishnamoorthy Rao, MD and CEO, Future Generali India Insurance said that they aim to offer insurance products to bank’s customers and enter new markets.
"The bank is headquartered in Kolkata and through this tie-up we aim to widen our customer outreach to Eastern India,” he said.
Currently, bancassurance accounts for 5 percent of Future Generali’s total business.
It has tie-ups with over 100 banks across the country, with the most recent association being with the Bank of Maharashtra.
Strengthening business across all the partner banks coupled with the new association with UCO Bank, the company aims to achieve a growth of 80 percent by end of FY18.
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