India Post Payment Bank ties up with Tata AIG General Insurance
The Hindu
India Post Payments Bank (IPPB) has announced an alliance with Tata AIG General Insurance Co. Ltd. for distribution of non-life insurance products across the country. As part of the alliance, IPPB wil
India Post Payments Bank (IPPB) has announced an alliance with Tata AIG General Insurance Co. Ltd. for distribution of non-life insurance products across the country.
As part of the alliance, IPPB will make available affordable insurance products through its network of 650 branches and over 136,000 banking access points to people.
The scope of products will include health insurance products, personal accident, motor insurance amongst others.
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Insurance penetration and density are often misunderstood and do not reveal how many families are insured or whether they would be financially secure if the main earning member were to die. The real issue is not reach but adequacy, as households may have life insurance but not enough cover to replace lost income, leaving them financially vulnerable.
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