Federal Bank has entered into a Bancassurance partnership with Star Health and Allied Insurance Co Ltd as a corporate agent to provide health insurance products for the Bank’s 8.90 million customers across India. The Bank’s customers can avail benefits of Star Health’s retail products and group affinity products through the bank’s various distribution channels which help the customers to address their complete financial needs under one roof.
What is Bancassurance?
It is a partnership between a bank and an insurance company that would enable them to offer insurance products to the bank’s customers.
Important takeaways for all competitive exams:
- Federal Bank Establishment: April 23, 1931;
- Federal Bank Headquarters: Aluva, Kerala;
- Federal Bank Managing Director & CEO: Shyam Srinivasan;
- Federal Bank Tagline: Your Perfect Banking Partner.