Indian Bank, Chola MS sign agreement

Chennai: Indian Bank has announced that it has entered into a corporate agency agreement with Cholamandalam MS General Insurance Company (Chola MS) for distribution of the latter’s insurance products to Indian Bank customers.

Under the agreement, Cholamandalam MS insurance products ranging from motor, home, health PA, and travel insurance, and SME and commercial line of business, such as fire, engineering and marine insurance, will be offered through traditional and digital platform to Indian Bank customers, said a release.

MD and CEO, Indian Bank, Padmaja Chunduru, said, “We are delighted to partner with Chola MS for bringing best-in-class non-life insurance products to our customers. The partnership will greatly benefit our customers and through this alliance, our customers will get a wide range of innovative products to cover their valuable assets. Both Indian Bank and Chola MS seek to fulfill the non-life insurance needs of bank’s customers.”

MD of Chola MS, SS Gopalarathnam, said, “Today, two great institutions headquartered in Chennai are coming together for a longstanding partnership and we are privileged to be the general insurance partner of choice for Indian Bank. With Chola MS core brand essence of T3 (Trust / Transparency / Technology), we hope to bring forth unique customised products for the bank’s customers.”

NT Bureau