TATA AIG Bancassures with Equitas SFB

1. Partnership Overview

• Firms: TATA AIG General Insurance and Equitas Small Finance Bank (SFB).
• Agreement: Bancassurance distribution tie-up.
• Primary Objective: Building Tata AIG insurance products visibility through the branch net work of Equitas SFB.

2. Benefits for Customers

• Access: The customers of Equitas SFB would now have an opportunity to conveniently visit a variety of general insurance products in Tata AIG as are offered at the branches of the bank.
• Product Range: The products that have been offered are:
  • Motor Insurance
  • Health Insurance
  • Personal Accident Insurance.
  • Travel Insurance
  • Other general insurance covers.

3. Strategic Significance

• In the case of TATA AIG, this collaboration allows having a broad distribution channel to access the large number of customers of Equitas SFB.
• In the case of Equitas SFB, it will improve its product portfolio, which will add value to its customers and provide a new source of revenue.

4. About the Companies

• TATA AIG General Insurance:
  • A partnership between Tata Group and the American International Group (AIG).
  • Since 2001, it has been a part of the Indian insurance industry.
• Equitas Small Finance Bank:
  • P. N. Vasudevan is the Managing Director and CEO.