Allianz Insurance and HSBC Sri Lanka partner for 10-year exclusive bancassurance

HSBC Sri Lanka Country Head of Wealth and Personal Banking Nadeesha Senaratne and Allianz Insurance Lanka Chief Executive Officer Gany Subramaniam 

Allianz Insurance Ltd. (Allianz Lanka) has entered into an agreement with HSBC Sri Lanka to offer the latter’s affluent customers two world-class insurance products with flexible 0% instalment plans.

The products are Global Health Medical Insurance, that provides high quality healthcare services worldwide, and Student Companion, to provide insurance solutions for students travelling overseas for education. 

These new offerings are part of a 10-year exclusive bancassurance distribution agreement signed between the Allianz Group and HSBC covering key markets in Asia such as Australia, China, Indonesia, Malaysia, Taiwan and Sri Lanka.

The ‘Global Health Medical Insurance’ cover allows HSBC’s Premier customers to enjoy world-class health care with an exclusive cover ranging from $ 800,000 to $ 1,500,000 at a special annual premium from Allianz Insurance.

Premier customers are also eligible for a special 12.5% discount on premiums for families with three or more members. 

The exclusive travel insurance plan namely ‘Student Companion’, gives parents the peace of mind that their children are protected and can stay on track to follow their dreams and achieve their goals while overseas. HSBC Premier customers can opt for a Student Companion travel insurance plan ranging from $ 50,000 to $ 200,000 at a special annual premium offered by Allianz Insurance.  HSBC Premier customers can enjoy the flexibility of paying their annual insurance premiums with 0% interest on instalments of Rs. 30,000 and above made upfront at the Allianz Lanka Head Office and Allianz Customer Care Centre - Borella. Customers residing outside Colombo, can avail the same when they purchase policies from Allianz Lanka branch offices, using the payment link that will be emailed to them by the insurer. This is part of Allianz Lanka and HSBC Sri Lanka’s ongoing efforts to extend the convenience and security of online payments to more people around the country.

Allianz Insurance Lanka Chief Executive Officer Gany Subramaniam said: “Consumers and businesses around the world are very conscious about the current global health environment and the financial implications it brings. As a responsible insurer who always strives to help secure people’s lives and give them courage by being behind them for what is ahead, we believe we have a greater responsibility to support them during these trying times in relation to their global health and wellness needs. In addition to this, we believe in giving them the assistance and assurance they would require when sending their children overseas on higher studies. Therefore, we are happy to partner with HSBC Sri Lanka to offer the bank’s Premier customers world-class insurance products and we look forward to seeing customers utilise the protection and benefit from it.”

HSBC Sri Lanka Country Head of Wealth and Personal Banking Nadeesha Senaratne commented: “Our customers lead international lives and need access to the best possible medical care both at home and overseas. Private medical facilities are often prohibitively expensive and local hospitals may be unable to undertake the treatment needed. Therefore, we have partnered with Allianz Insurance to offer our customers and their family an exclusive Global Health Insurance cover to provide them with access to the best possible healthcare. We have also made Global Insurance more affordable with our flexible payment plans on HSBC Premier Credit Cards.”