Max Bupa, Standard Chartered Bank enter into bancassurance tie-up

MUMBAI: Private health insurer Max Bupa has entered into a bancassurance tie-up with Standard Chartered Bank to provide health insurance offerings to customers of the bank.

"This relationship is an important milestone for us as bancassurance is an important part of our growth strategy," Max Bupa CEO Manasije Mishra said in a release issued here today.

Standard Chartered will distribute Max Bupa's health insurance products to its customers across its 99 branches spread over 42 cities in the country.

Bupa will work with Standard Chartered Bank to ensure sales training, product support and smooth operational processes in order to offer the former's health insurance products to customers seeking a health cover.

"This arrangement will enable us to further augment the comprehensive range of third party products and services by offering Max Bupa health insurance solutions. We are confident that this will be a mutually beneficial relationship", said Sanjeeb Chaudhuri, Regional Head (South Asia) and Chief Marketing Officer (Consumer Banking), Standard Chartered Bank.

The comprehensive product suite will include Max Bupa's flagship products - Heartbeat and Health Assurance.

Max Bupa Health Insurance is a 74:26 joint venture between diversified business firm Max India and Bupa, an international healthcare provider.