Hyderabad: In an attempt to attract more customers, National Insurance is planning to launch products with a combination of life and health insurance. For these products, the company plans to join hands with a private life insurer, according to Business Line.
Last month, the Insurance Regulatory and Development Authority (IRDA) had released guidelines for insurers to bring out combi products, which could be promoted through a tie-up between one life insurer and a non-life insurer. Currently, the company is in talks with three private life insurers and is expected to finalize a tie-up with one of the companies in the next 4-5 months. According to sources close to the development, one of the private insurers is Birla Sun Life Insurance, which already has a business relationship with National Insurance.
These products are expected to increase penetration of health insurance on the back of the huge distribution network built by the life insurance sector. "We are in talks and we hope to finalize a tentative tie-up in the next three to four months. We see significant potential in this sector, as combi products offer a more attractive proposition to customers," said N.S.R. Chandraprasad, Chairman and Managing Director of National Insurance.
Last month, the Insurance Regulatory and Development Authority (IRDA) had released guidelines for insurers to bring out combi products, which could be promoted through a tie-up between one life insurer and a non-life insurer. Currently, the company is in talks with three private life insurers and is expected to finalize a tie-up with one of the companies in the next 4-5 months. According to sources close to the development, one of the private insurers is Birla Sun Life Insurance, which already has a business relationship with National Insurance.
These products are expected to increase penetration of health insurance on the back of the huge distribution network built by the life insurance sector. "We are in talks and we hope to finalize a tentative tie-up in the next three to four months. We see significant potential in this sector, as combi products offer a more attractive proposition to customers," said N.S.R. Chandraprasad, Chairman and Managing Director of National Insurance.
No comments:
Post a Comment