Federal Bank, ABHICL ties up for bancassurance

Hyderabad Federal Bank and Aditya Birla Health Insurance Co Ltd (ABHICL) on Friday announced their bancassurance partnership. Through this tie up, the bank will be able to provide their customers innovative health insurance solutions offered by ABHICL.

Customers will have access to ABHICL's industry-first innovative solutions such as, day one cover for asthma, high blood pressure, high cholesterol, diabetes; wellness coaching on nutrition and fitness; counselling on mental health; incentivized wellness benefits of up to 100 per cent health returns (health premiums) and chronic management program, the companies said in a joint press release.

Mayank Bathwal, CEO, Aditya Birla Health Insurance said: "We are delighted to announce our strategic alliance with Federal Bank. This partnership will enable us to expand our national footprint and offer a range of health insurance offerings to the bank's widely distributed network of over 1250 branches and 8.9 million consumers spread across India. We will efficiently cultivate it into a long-term mutually beneficial partnership which supports our mission to promote 'health first' in health insurance for customers."

Shalini Warrier, Executive Director & Business Head- Retail, Federal Bank said, "The alliance with Aditya Birla Health Insurance is designed to give our customers a range of choices in health insurance. In line with the bank's mantra of 'digital at the fore, human at the core', the products will be offered to our customers through self service portals and through our branches. We look forward to a highly successful partnership with ABHICL".