Private life insurer Tata AIA Life and Citibank today entered into a bancassurance partnership in India to serve insurance needs of over 18.4 million households in the country.
"This partnership aims to enhance the value proposition to Citibank's customers. I am confident that with our customised products, unique technology support for sales and services, and Citibank's expert relationship managers, we will enhance customer experience to a new level," Tata AIA Life CEO and Managing Director Naveen Tahilyani told reporters here.
This is a growing base of approximately 18.4 million households across 14 cities in India that has a large protection gap, estimated at over Rs 150 trillion, he said.
"In India, for every Rs 100 needed for a family's income protection, only Rs 7.4 is currently provided for, leaving a protection gap of 92.6 per cent," he pointed out.
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Value Budget enters 'senior living' space with Bengaluru homes * Value Budget Housing Corporation (VBHC) today said it has forayed into the "senior living" segment with a project in Bengaluru.
The affordable housing segment player has tied up with a company, Vedaanta Senior Living, to launch "Vaibhava" in India's IT capital.
The project at Anekal near Electronic City will comprise 92 units - 32 one-and-half BHK and 60 two BHK apartments - dedicated to the needs of senior citizens, a release said here.
The apartments will cost between Rs 29 lakh and Rs 40 lakh.
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Xpress Money elevates Sudesh Giriyan as COO * Money transfer operator Xpress Money today said it has elevated Sudesh Giriyan as Chief Operating Officer.
He was previously the vice president and business head of the company, which is the money transfer arm of UAE Exchange.
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RComm offers new scheme for GSM/CDMA customers in Tamil Nadu * Reliance Communications today announced a slew of offers to its GSM and CDMA customers in Tamil Nadu, offering calls at 10 paise per minute.
"The new prepaid plan offers Reliance to Reliance calls at 10 paise per minute while local and STD calls will be charged at 25 paise per minute", a company statement said.
New customers need to make a first recharge of Rs 101 for calls charged at 10 paise per minute while STD calls will be offered at 25 paise per minute with talktime of Rs 80 and validity for 90 days, it said.
