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Star Health and IDFC FIRST Bank joined together to offer Bancassurance

For the distribution of its health insurance options, the insurer and IDFC FIRST Bank have inked a corporate agency agreement. In accordance with this strategic partnership, Star Health and Allied Insurance Company will use IDFC FIRST Bank‘s cutting-edge digital platform and extensive distribution network to offer its best-in-class health insurance products to the Bank’s customers.

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KEY POINTS:

  • With a focus on going digital, IDFC FIRST Bank provides customer service through its mobile app and net banking platform, which supplement its network of branches, ATMs, and lending centres.
  • As the first independent health insurance provider in India, Star Health and Allied Insurance Company began doing business in 2006. It specialises in health, personal accident, and international travel insurance.
  • On June 27, 2022, shares of Star Health dropped 3.49 percent to Rs 514.80.

Important Takeaways for All Competitive Exams:

  • MD and CEO of IDFC FIRST Bank: V. Vaidyanathan
  • MD of Star Health: Prakash Subbarayan

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