J&K Bank signs corporate agency agreement with Bajaj Allianz Life Insurance

Jammu and Kashmir Bank

India, Mar 23: Jammu and Kashmir Bank has entered into a corporate agency agreement with Bajaj Allianz Life Insurance Company – one of the country’s leading insurance providers. The agreement has paved way for the Bank to sell the life insurance products of Bajaj Allianz from April 1.

General Manager & Vertical Head (Cross Selling) Narjay Gupta signed the agreement on representing J&K Bank, while as, Chief Distribution Officer (Institutional Business) Dheeraj Sehgal put in his signatures on behalf of Bajaj Allianz Life Insurance Company in presence of Bank’s Executive Director Sudhir Gupta. Bank’s General Manager & Vertical Head (Business Support Division) Syed Rais Maqbool, Bajaj Allianz Business Heads Varghese Chacko and Zeeshan Andleeb besides other senior officials of the Bank and Bajaj Allianz Life also attended the signing ceremony at corporate headquarters.

Commenting upon the Bank’s efforts to expand the choice canvas for its growing and varied customer base across the country, MD & CEO Baldev Prakash said, “Signing of the corporate agency agreement with insurance giant LIC of India and Bajaj Allianz Life in quick succession – with 1st April 2023 as date for commencing operations – clearly exhibits our customer-centric policy approach, thrust on swift implementation and commitment to widening the range of products, services for our clients.”

Executive Director Sudhir Gupta hailed the Bank’s business relations with Bajaj Allianz. On the occasion, he said, “Through this agreement, we have further strengthened our relationship with Bajaj Allianz. With both organisations being reputed brands in their field of operations, I am sure this partnership will help us achieve our business goals successfully.”

Lauding the Bank’s systemic importance in J&K and Ladakh besides strategic presence in rest of the country, CDO Dheeraj Sehgal said after signing the document, “We are thankful to J&K Bank for this opportunity and are eager to put our best foot forward in serving the people here by providing them an array of life insurance products to cover and secure their life goals.”

“We believe collaboration with J&K Bank will surely bring solutions to life insurance needs of huge population J&K Bank serves with great pride and professionalism”, Dheeraj Added.

“Bank’s reach especially in J&K, Ladakh and range of Bajaj Allianz products makes the tie-up beneficial not only for the customers but a win-win for both the institutions”, commented General Manager Narjay Gupta.

“J&K Bank and Bajaj have strong brand value and rich legacy of serving people”, said General Manager Syed Rais Maqbool adding that the agreement will facilitate the Bank’s customers besides enabling both companies to leverage the strengths of each other.

Expressing confidence on the occasion, Bajaj Allianz Life (Business Head) Zeeshan Andleeb said that the partnership with J&K Bank especially in J&K and Ladakh will mean benefit and success for everyone across the value chain.

About Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance is one of India’s leading and fastest growing private life insurers. The company is a partnership between two powerful and successful entities in their own right – Bajaj Finserv Limited, one of India’s most diversified non-banking financial institution and Allianz SE, one of the world’s leading asset manager and insurer.

Commencing its operations in 2001, Bajaj Allianz Life has expanded its presence across the country. It serves millions of customers through its 509 branches, over 117,700 agents (as on 31 December 2022), comprehensive set of trusted partners and its online sales channel. The Company’s brand promise of Life Goals.Done. drives it to launch innovative insurance solutions, backed by a robust set of digital assets. Bajaj Allianz Life Insurance has constantly transformed to offer tech-enabled state-of-the-art services to enhance customer delight. The Company continues to engage with customers through several unique platforms such as Life Goals Mantras, Plankathon, and much more.

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