ICICI Pru ties up with India Post in Andhra

Private life insurance player, ICICI Prudential Life Insurance, on Thursday tied up with India Post to reach out to rural markets through the latter’s network of 16,159 post offices across Andhra Pradesh.

“Under this referral agreement partnership, India Post will give us business leads. Customers who want to save towards their long-term financial goals through ICICI Prudential’s plans will be referred by India Post to the company’s banassurace officer. Over 1,160 postal staff have been trained in raising referrals,” Anup Rau, senior vice-president and head (sales), ICICI Pru, told mediapersons.

ICICI has also launched this service in Gujarat, Karnataka and Uttar Pradesh. It plans to take this tie up to the pan-India level in the next one month. India Post gets a commission in the range of 10 per cent to 25 per cent on each referral.

“With this tie up, the existing ICICI Prudential life policyholders can also pay their premiums at the 529 e-payment enabled post offices across Andhra,” said KV Sundar Rajan, chief postmaster general (Andhra Pradesh circle).