ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Mahindra & Mahindra stock hits 52-week high as brokerages bullish on counter post Scorpio-N launch; check target prices
  • GST Council meet begins today: Know agendas of Finance Minister Nirmala Sitharaman's led two-day meeting
  • Security deposit on commercial LPG connection goes up by Rs 1050 for 19-kg cylinder; check new rates
  • Cash-starved Sri Lanka to end fuel duopoly to ease fuel shortages
  • Xiaomi 12S series set to launch with Leica cameras on July 4: Check key details here
Read in App
Business News » Personal Finance News

Health Insurance: IDBI Bank ties up with Max Bupa

IDBI Bank's diverse pool of customers will benefit from Max Bupa's comprehensive Health Insurance offerings. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Health Insurance: IDBI Bank ties up with Max Bupa
The customer's will also avail pre-authorization of cashless claims within 30 minutes. Photo: PTI

A Bancassurance corporate agency agreement was signed between IDBI Bank Ltd. and Max Bupa, a Standalone Health Insurer (SAHI) on June 1 2019. For IDBI Bank, it is the first time they have been on board as a  Corporate Agent for a SAHI partner which comes under Open Architecture. 

Within the tie up IDBI Bank Ltd diverse pool of customers will benefit from Max Bupa's comprehensive Health Insurance offerings. The latter will give  a wide range of health insurance products and digital first propositions, especially tailored for the bank's 20 million customers, spread across 1800+ branches pan India.

The products constructed by Max Bupa include IDBI Max Bupa Suvidha Health Plus, IDBI Max Bupa Loan Secure and IDBI Max Bupa Sehat Suraksha. Additionally, the customer's will also avail  pre-authorization of cashless claims within 30 minutes as well as access to ‘Point of Care’ desks at leading hospital chains in any part of the country. 

Max Bups will furthermore design a digital ecosystem for IDBI Bank customers which will boost up their overall experience. The proprietary digital platform by Max Bupa named ‘Infinity’ will integrate with the bank's system. The merger will enable a seamless buying journey for all customers. This way customers can make a purchase of the product of their choice and access their policy documents at the bank branch. 

Post this decision, Max Bupa will also deploy AnyTimeHealth (ATH) machines which is an automated, technology-based model that will help the customers avail health assessment and buy a policy instantly in under three minutes, at any IDBI branch.

Commenting on the development, Rakesh Sharma, MD & CEO, IDBI Bank said, “Our alliance with Max Bupa is a result of growing customer demand to have best in class health insurance products, and through our collaboration with Max Bupa we will be able to offer customer centric digitally enabled health insurance products to our customers.”

He further added, “IDBI Bank is giving more focus to increase the Fee Income through Third Party distribution. This tie-up is step in that direction.”

Adding to that, Ashish Mehrotra, MD & CEO, Max Bupa said, “Both IDBI Bank and Max Bupa share strong synergies in terms of commitment towards always keeping our customers first, strong market reputation and pan India presence and will focus on deployment of best in class digital offerings to provide holistic customer centric health solutions to IDBI’s diverse segments across the country”.

“Health insurance as a category in India is still nascent with penetration levels at merely 27% and needs huge push from health insurers like us to create awareness and make quality health insurance solutions easily accessible to consumers. Max Bupa is geared towards expanding its pan India presence to ensure more and more customers have access to our products, and the bancassurance arrangement with IDBI Bank is a significant step in this direction.” he further stated.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
IDBI Bank
Written By: ZeeBiz WebTeam
Updated: Tue, Jun 11, 2019
11:33 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
IDBI Bank share price slumps 5% intraday as it reacts to divestment update; why this insurance stock may have advantage? IDBI Bank share price slumps 5% intraday as it reacts to divestment update; why this insurance stock may have advantage?
Big announcement by IDBI Bank! To exit insurance JV by selling entire stake to Ageas for Rs 580 crore Big announcement by IDBI Bank! To exit insurance JV by selling entire stake to Ageas for Rs 580 crore
IDBI Bank Q4 Results: Profit surges 35% YoY to Rs 691 cr, asset quality improves; stock surges over 3.5% intraday IDBI Bank Q4 Results: Profit surges 35% YoY to Rs 691 cr, asset quality improves; stock surges over 3.5% intraday
Bancassurance gains: LIC Chairman says state-owned insurer keen to retain some stake in IDBI Bank Bancassurance gains: LIC Chairman says state-owned insurer keen to retain some stake in IDBI Bank
IDBI Bank Disinvestment: Privatisation process on, says Tuhin Kanta Pandey; dilution quantum decision after roadshow, DIPAM Secretary reveals IDBI Bank Disinvestment: Privatisation process on, says Tuhin Kanta Pandey; dilution quantum decision after roadshow, DIPAM Secretary reveals

LATEST NEWS

GST Council Meeting: These two important agendas before council on Day 2 – know details

GST Council defers tax on casinos, lottery

SpiceJet, Visa2Fly partner to launch online visa service

Brokerage sees robust gas demand at 6.1% CAGR over next 8 years; maintains buy on GAIL, MGL, Gujarat Gas and Petronet

Ashish Kacholia Stocks: This multi-bagger counter surges for 3rd day in row, up 13% - know what’s driving the rally

Dell unveils its latest commercial laptops in India

Apple iPhone 14 series launch: Check latest updates - expected release date, price, specifications and more

Housing sales see 4.5-fold annual growth in April-June across 8 cities; demand up 5 pc from January-March quarter

Buy, Sell or Hold: What should investors do with Strides Pharma, MRPL and IEX shares?

Sebi permits FPIs to participate in exchange-traded commodity derivatives market

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV