ICICI Lombard, AU Small Finance Bank signs bancassurance agreement

ICICI Lombard General Insurance is entering into a bancassurance tie-up with AU Small Finance Bank. The partnership will provide the bank’s diverse customers access to the insurer’s portfolio and enhance penetration across India. As per the statement, AU Bank is rapidly expanding its distribution footprints across India, and this tie-up between the two giants will further enrich its general insurance offering with agile, digital & paperless solutions offered by ICICI Lombard. 

The entire suite of products will be offered across 980+ banking touchpoints spread over 20 states & 2 union territories. The customer-centric products will provide long-term financial security to customers and their families, the companies claimed in a statement. 

Speaking about the partnership Sanjeev Mantri, Executive Director of ICICI Lombard, said, “At ICICI Lombard, we are in a constant endeavour to provide consumers and businesses effective risk management solutions based on their evolving needs. As an industry leader, we are excited to partner with AU Small Finance Bank in providing customers with a comprehensive product portfolio. This partnership will help further strengthen our distribution and unravel growth opportunities through the bank’s wide network. With our extensive range of customised solutions for risk management, we are confident that we will be able to address varied customer segments across India.” 

Highlighting the key aspects of this strategic partnership, Uttam Tibrewal, Executive Director of AU Small Finance Bank, said, “AU Small Finance Bank always prides in providing customer-centric solutions and services. Expanding our bouquet of financial services and customer value proposition, we wanted to associate with an additional general insurance partner to add value to our existing range of products & services while helping our customers plan for better financial security. We welcome ICICI Lombard as our valued insurance partner who, we believe, has the ability and experience to understand customers’ needs and offer them customised need-based solutions and provide seamless services.”

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