Kotak Life ties up with Murshidabad Co-operative bank
Kotak Mahindra Old Mutual Life Insurance, a leading private sector insurance company, on Monday entered into bancassurance partnership with Murshidabad District Central Co-operative Bank.
By PTI |
KOLKATA: Kotak Mahindra Old Mutual Life Insurance, a leading private sector insurance company, on Monday entered into bancassurance partnership with Murshidabad District Central Co-operative Bank.
The partnership will enable Kotak Life Insurance to tap the vast customer base of the Murshidabad district semi-urban population.
Kotak Life Regional Manager (alternate channel) Puneet Bhargava said the tie up with the co-operative bank will generate additional 5-8 per cent of customer penetration.
Murshidabad District Co-operative Bank Chairman Sekhar Saha said that the partnership with Kotak Life will enable the bank to bundle insurance products with their own offering.
Gradually private insurance companies are focussing in the rural and semi-urban life insurance market that was largely captured by public sector behemoth Life Insurance Corporation.
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