Mumbai: HDFC ERGO General Insurance Company, India's leading private sector general insurance company and Federal Bank, announced tie-up for the distribution of HDFC ERGO's range of non-life insurance offerings to the customers of the Bank through its network branches.
The two entities have joined hands and entered into a corporate agency partnership to offer comprehensive general insurance products through the network of Federal Bank's 1250+ branches spread across the entire country. The Bank with its Pan India network and technological edge comes as an advantage for HDFC ERGO. Federal Bank's deep-rooted presence in Southern markets also allows the Company to strengthen its foothold within the region. Also, this enables Federal Bank to offer their customers' a comprehensive solution for all their financial requirements under a single roof.
Commenting on the tie-up, Anuj Tyagi, Executive Director & Chief Distribution Officer, HDFC ERGO General Insurance said, "Our Bancassurance practice over the years has matured to offer comprehensive Insurance solutions to end customers both digitally and physically, which benefits the customers in many ways. Our alliance with Federal Bank is an important milestone and allows us to collaborate and expand our reach by offering our Insurance products to a wider audience across the country through the Banks branches and digital network. It is our constant endeavour to make our products more widely available for the consumers from all sections of the society and we see immense opportunity in our association with Federal Bank."
Jose K Mathews, Executive Vice President & Head Retail Business, Federal Bank said, "Our aim has always been to create greater value for our customers and the tie-up with HDFC ERGO will give our customers access to a host of general insurance services which are designed to address their needs. We are delighted to announce HDFC ERGO as our Bancassurance partner. This alliance marks the reaffirmation of our commitment to our customers' financial well-being by providing them with comprehensive insurance solutions."