Union Assurance partners with DFCC for bancassurance
Tuesday, 5 August 2014 01:04
Union Assurance recently partnered with DFCC Bank and DFCC Vardhana Bank PLC to provide insurance facilities to the extensive customer networks of the two banks.
Bancassurance operation for Non-Life is carried out in DFCC Bank whilst both Life and Non-Life Bancassurance operation is carried out in DFCC Vardhana Bank PLC.
Union Assurance is an industry leader with a number of innovative tailor-made insurance products to suit any lifestyle and requirement. Through this MOU the insurer has expanded its reach and will make a positive impact in the lives of a wider group of individuals.
The MOU with DFCC Bank and DFCC Vardhana Bank PLC is the latest in a series of forays made by Union Assurance in the banking sector.
This partnership is a mutually beneficial agreement that allow the banks to have a one stop shop facility for its customers, while allowing the Insurance giant to tap in to a wider customer base with a diverse range of insurance needs.
Niranjan Nagendra, General Manager â€“ Corporate, commenting on the partnership, said: â€śThis tie up will not only help us to have a strong corporate relationship with the banks but will also assist us to reach out to a diversified customer base to give the best of Insurance solutions and develop new relationships in untapped markets.â€ť
While this MOU provides benefits to both parties involved, the definitive benefits trickle down to the customers â€“ who now have access to world class banking facilities of their respective banks with the added benefit of having a direct line to Sri Lankaâ€™s most innovative insurance provider.