As per the new guidelines of Insurance regulatory and development authority banks are asked to sell the insurance products of a particular company. Along with the banking banks will work as insurance brokers.
Standard chartered bank has joined up Max Bupa health Insurance for bancassurance. The bank will now be providing Health insurance products to its customers through its 99 branches in the country. It has been reported in order to provide the best health products to bank customers looking for health insurance.
The Bank is working with Max Bupa to ensure the product support, and smooth operational process in the health products of the company. Regional head of the bank also reported that this arrangement will help them to increase the third party products and service.