Mumbai: Tata AIG Life Insurance Company (Tata AIG Life) today announced its strategic tie-up with Chennai Central Co-operative Bank (CCCB), a part of The Tamil Nadu State Apex Co-operative Bank.
This tie-up will be significant for both partners as it will facilitate Tata AIG Life to penetrate deeper into the Tamil Nadu market through 64 branches of CCCB in Chennai.
Speaking on the occasion, M Suresh, managing director, Tata AIG Life Insurance Company, said, “We are extremely pleased to partner with CCCB in offering insurance solutions for its customers. We believed that the banking channel has a key role in spreading the concept of life insurance through their existing distribution networks. Given CCCB’s strong presence in Chennai, we are positive that the alliance will help us to cater to our present and prospective customers in the region. It is Tata AIG Life’s constant effort to maximise its reach and serve its customers better.”
S Ponmani, special officer, Chennai Central Co-operative Bank added, “CCCB has entered into a strategic tie-up with Tata AIG Life Insurance Company to cater to the long-term savings and protection needs of their customers. This is in line with the principle objective of co-operative banks — inculcating a habit of economy and savings.” Additionally he also shared that the focus of CCCB would be more on offering suitable savings, protection and children savings plans of Tata AIG Life to their salaried class of customers, most of whom rely on their monthly income for their living and do not have any other financial support to come in handy in an hour of crisis (Note: In a referral arrangement, the referral bank cannot actually offer any product).