Bajaj Allianz partners with Axis Bank
India’s Axis Bank has formed a bancassurance partnership with Bajaj Allianz General Insurance
The partnership will see a range of Bajaj Allianz insurance products, including travel insurance, being distributed via Axis’s network of over 5,250 branches.
As well as travel coverage, other products that will be offered via the partnership will include motor, health, home, engineering, and marine insurance.
“Through this partnership, we aim to significantly enhance the reach and adoption of insurance products in India, particularly in underserved communities,” said Tapan Singhel, Managing Director and CEO of Bajaj Allianz General Insurance.
Munish Sharda, Executive Director and Head of Bharat Banking, Axis Bank, added: Our alliance with Bajaj Allianz General Insurance paves the way for a future where comprehensive insurance solutions are readily available and easily accessible to all, fostering a secured and empowered India.”
India’s travel sector has been growing rapidly in recent years, with the travel insurance sector expanding alongside it. In the first three months of 2024, over 97 million travellers passed through Indian airports – a figure that would have taken a full year to achieve a decade ago.
Oliver Cuenca
Oliver Cuenca is a Junior Editor for Voyageur Group, joining in 2021. He writes for both ITIJ and AirMed&Rescue, covering a range of topics including international travel and health insurance, medical assistance provision and air medical transportation. He also serves as Title Editor of the Assistance & Repatriation Reviews. Oliver holds an MA in Magazine Journalism from Cardiff University, as well as a BA in English with Creative Writing from Falmouth University.