Bajaj Allianz Life Insurance partners with DBS Bank India; To offer life insurance solutions to the bank’s customers

DBS Bank’s 3M customers can now choose from Bajaj Allianz Life’s retail products including term, savings, retirement and investment products

MUMBAI and PUNE, India, July 20, 2022– Bajaj Allianz Life Insurance, one of India’s leading private life insurers, and DBS Bank India, the wholly owned subsidiary of DBS Bank Ltd., Singapore, have announced a strategic partnership to offer a wide array of life insurance solutions to the bank’s 3M customers.

Through this partnership, Bajaj Allianz Life and DBS Bank aim to empower the customers to Live More and Bank Less by investing in life insurance products that best meet their life needs in a planned manner. New and existing customers across the 550+ branches of DBS Bank can now choose from Bajaj Allianz Life’s retail products including term, savings, retirement, and investment products. 

Mr. Tarun Chugh – MD & CEO, Bajaj Allianz Life Insurance and Mr. Prashant Joshi – MD & Head, Consumer Banking Group, DBS Bank India, along with other officials from both the companies, signed the corporate agency agreement in Mumbai.

Speaking on the occasion, Mr. Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance said, ” This is a prestigious partnership and we are glad to offer powerful and value-packed products backed by new-age efficient services for the large customer base at the Bank. I’m confident that with our collective focus on customer delight the team will set higher benchmarks in the industry, while enabling many more life goals. “

Mr. Prashant Joshi – MD & Head, Consumer Banking Group, DBS Bank India said, “Our partnership with Bajaj Allianz Life will pave the way for all DBS Bank customers to enjoy comprehensive end-to-end life insurance solutions. Customers across the 550+ physical network of DBS as well as digibank users will be able to avail all the offerings by either visiting any of our branches or with just a tap on the app. This initiative is a part of our ongoing endeavor to support every customer in securing a financially sound future with us.”

About Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance is one of India’s leading and fastest growing private life insurers. The company is a partnership between two powerful and successful entities in their own right – Bajaj Finserv Limited, one of India’s most diversified non-banking financial institution and Allianz SE, one of the world’s leading asset manager and insurer.

Commencing its operations in 2001, Bajaj Allianz Life has expanded its presence across the country. It serves millions of customers through its 509 branches, 96,000+ agents (as on 31 March 2022), comprehensive set of trusted partners and its online sales channel. The Company’s brand promise of Life Goals.Done. drives it to launch innovative insurance solutions, backed by a robust set of digital assets. Bajaj Allianz Life Insurance has constantly transformed to offer tech-enabled state-of-the-art services to enhance customer delight. The Company continues to engage with customers through several unique platforms such as Life Goals Mantras, Plankathon, and much more. 

About DBS

DBS is a leading financial services group in Asia with 18 markets. Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Banks of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 13 consecutive years from 2009 to 2021. DBS was also ranked No. 1 on Forbes’ list of the World’s Best Banks in India for two consecutive years.

DBS Bank has been present in India for 28 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is among the first foreign banks in India to start operating as a wholly owned, locally incorporated subsidiary of a leading global bank. DBS provides an entire range of banking services for large, medium and small enterprises and individual consumers in India. In 2016, DBS launched India’s first mobile-only bank, digibank, with ~1 million savings accounts. In November 2020, Lakshmi Vilas Bank was amalgamated with DBS Bank India Limited. The bank now has a network of over 500 branches across 19 states in India.

DBS provides a full range of consumer, SME, and corporate banking services. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment, and can-do spirit of our 30,000+ staff representing over 40 nationalities. For more information, please visit www.dbs.com.

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