Oriental Bank of Commerce (OBC) signed a corporate agency agreement with Cholamandalam MS General Insurance Co. Ltd. on Wednesday for distribution of the latter’s insurance products. According to the agreement, Cholamandalam will offer a range of non-life insurance products to the bank’s customers through OBC’s branch network.
S.S. Gopalarathnam, Managing Director, Cholamandalam MS said: “We hope to bring in unique customised products for the bank’s customers and robust technology integration to seamlessly provide a unique buying experience for Oriental Bank customers. We are committed to working together with the Oriental Bank team to ensure that customers have access to the best of insurance protection for their personal and business needs.”
The products include personal (motor, home, health and travel insurance) and commercial (fire, marine and engineering insurance).
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Animesh Chauhan, MD & CEO, Oriental Bank of Commerce said: “The partnership will greatly benefit our customers and through this alliance, both Oriental Bank and Chola MS seek to fulfil the non-life insurance needs of customers."