Agreement between BoM and Rel Insurance

Reliance Nippon Life Insurance Co Ltd recently stated that a comprehensive bancassurance agreement is signed with Bank of Maharashtra.

“This partnership is aimed at enhancing the bank’s customer proposition and positioning the bank as the most preferred financial services supermarket. This partnership further aims to maximise the distribution fee potential for the bank. “Bank of Maharashtra presents a very large opportunity and we look forward to deploying technology enabled processes to harness this alliance. Our long-term protection and assured return product suite complements the offering from the Bank,” Ashish Vohra, Executive Director & CEO

“This, together with the Bank’s brand salience in its core markets, allows us to leverage our capabilities for maximizing value to our customers,” Vohra added, also mentioning that Reliance Nippon Life Insurance, with vast distribution coverage of over 700 branches, is uniquely positioned to service the bank’s customers and distribution operations across urban and rural markets.