City Union Bank, Shriram Gen Insurance tie up for distribution of products

Shriram will offer personal insurance products such as motor, personal accident, home and travel along with commercial ones such as property, marine and engineering to bank's customers

City Union Bank and Shriram General Insurance signed a corporate agency agreement on Friday, for the distribution of the latter's products through the bank’s network of 727 branches across the country.

Under the agreement, Shriram General Insurance will offer personal insurance products such as motor, personal accident, home and travel along with commercial ones such as property, marine and engineering to the bank’s customers.

“We are delighted to partner with Shriram General Insurance. We are of firm belief that partnership will certainly bring the best of non-Life Insurance products to our customers,” said N Kamakodi, managing director and chief executive officer, City Union Bank. “City Union Bank has always worked towards fulfilling its philosophy of serving the citizens of the nation; by providing elaborate insurance product lines to Bank’s customers with new Corporate Agency tie-ups, the Bank proposes to help the customers tide over all ups and downs,” he said.

“We are confident that this partnership will enable us to provide best in class insurance products to City Union Bank customers and take the customer experience to the next level. By leveraging technology, we will ensure digital, instant, and seamless insurance experience to the Bank’s urban as well as rural customers,” said Anil Kumar Aggarwal, MD and CEO, Shriram General Insurance.