The association will provide the bank's customers access to the insurer's portfolio and make insurance more accessible to its customers across India, ICICI Lombard said in a release.
Through this collaboration, ICICI Lombard aims to offer innovative insurance solutions to 8 million customers of the bank spread across its 779 branches in the country, it said.
Sanjeev Mantri, Executive Director, ICICI Lombard said, "Bancassurance as a channel has been a strong catalyst for us as it opens numerous opportunities through partnerships with trustworthy organisations. With this tie-up, we aim to leverage Karur Vysya bank's rich heritage of over 100 years of providing banking services in India and offer our exclusive and innovative non-life insurance solutions to their customers."
"Our main focus is on keeping clients at the heart of all our schemes, and this tie-up will help us uphold a strong and distinguished insurance catalogue," said Gururaja Rao, General Manager, Karur Vysya Bank.