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Aditya Birla Health Insurance inks bancassurance partnership with UCO Bank

ABHICL has more than 200 branches, with a diversified presence in over 4800 cities spread across the length and breadth of the country

Deals, mergers,

Karthik Jerome New Delhi

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Aditya Birla Health Insurance Co Ltd (ABHICL), the health insurance joint venture of Aditya Birla Capital Ltd. (ABCL) has announced its bancassurance partnership with leading public sector lender, UCO Bank, for the distribution of health insurance products through the bank’s branches across India.

This partnership will enable ABHICL to expand its national footprint by leveraging UCO Bank’s widely distributed network of 3,164 branches and reach out to more than 40 million customers of the bank across India. Commenting on the association, UCO Bank MD & CEO - Soma Sankara Prasad said, "We are delighted to announce the Bank’s new standalone health insurance partnership with Aditya Birla Health Insurance Company, which brings knowledge and expertise of innovative healthcare and Wellness Offerings. We are confident that this partnership will further support the bank in enhancing the customer experience by focussing on selling the right health insurance product to the customers and making the overall experience of insurance policy and claim settlement a smooth experience for the customers. With our customer-first approach we are happy to share Aditya Birla Health Insurance’s innovative and health-first solutions with all our customers."

With this association, UCO Bank’s customers and employees will have access to ABHICL’s comprehensive suite of health-first insurance solutions like incentivized wellness benefits of up to 100% Health Returns and chronic management program, Day-1 cover for asthma, high blood pressure, high cholesterol, diabetes; wellness coaching on nutrition and fitness and counselling on mental health. With the UCO Bank partnership, ABHICL now has 17 bancassurance partners with over 80,000 direct selling agents, across the country.

Mayank Bathwal, CEO - Aditya Birla Health Insurance, said, "We are delighted to announce our strategic alliance with UCO Bank, one of the leading public sector banks in India. At ABHI, our endeavour has been to help our customers with cutting-edge innovative health-first insurance solutions which not only protects them from medical uncertainties but nudges them to live a health-focused life. This partnership will help us strengthen our distribution network further and allow us to offer customised, cost-effective, and innovative advanced health insurance solutions to millions of UCO Bank customers across India. This will further aid us in our vision of health insurance for all."

ABHICL has more than 200 branches, with a diversified presence in over 4800 cities spread across the length and breadth of the country.  With a vast network of more than 10,000 hospitals, ABHICL can provide health insurance facilities to the deeper and underpenetrated parts of the country.

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First Published: Mar 30 2023 | 11:21 PM IST

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