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Federal Bank and Aditya Birla Health Insurance enter Bancassurance Partnership

In Business
October 29, 2021

Federal Bank and Aditya Birla Health Insurance Co. Limited (ABHICL) have announced their bancassurance partnership today. Through this partnership, Federal Bank will be able to provide their customers innovative health insurance solutions offered by ABHICL.

Customers will have access to ABHICL’s industry-first innovative solutions such as, Day 1 cover for asthma, high blood pressure, high cholesterol, diabetes; wellness coaching on nutrition and fitness; counselling on mental health; incentivized wellness benefits of up to 100% HealthReturns TM (health premiums) and chronic management program, etc.  Consumers can avail benefits of various retail and group affinity products through the Bank’s various distribution channels.

“We are delighted to announce our strategic alliance with Federal Bank, one of the most prominent commercial banks in the private sector. This partnership will enable us to expand our national footprint and offer a range of health insurance offerings to the Federal bank’s widely distributed network of 1250+ branches and 8.9 million consumers spread across India. We will efficiently cultivate it into a long- term mutually beneficial partnership which supports our mission to promote “health first” in health insurance for customers”, said Mayank Bathwal, CEO, Aditya Birla Health Insurance Co. Limited.

Commenting on the new tie-up Shalini Warrier, Executive Director & Business Head- Retail, Federal Bank said, “The alliance with Aditya Birla Health Insurance Co. Limited, the fastest growing Stand Alone Health Insurance company, is designed to give our customers a range of choices in health insurance. In line with the Bank’s mantra of “Digital at the fore, human at the core”, the products will be offered to our customers through self service portals and through our branches. We look forward to a highly successful partnership with ABHICL”.