Union Assurance partners with DFCC for bancassurance

Tuesday, 5 August 2014 01:04 - - {{hitsCtrl.values.hits}}

Union Assurance recently partnered with DFCC Bank and DFCC Vardhana Bank PLC to provide insurance facilities to the extensive customer networks of the two banks. Bancassurance operation for Non-Life is carried out in DFCC Bank whilst both Life and Non-Life Bancassurance operation is carried out in DFCC Vardhana Bank PLC.

Union Assurance is an industry leader with a number of innovative tailor-made insurance products to suit any lifestyle and requirement. Through this MOU the insurer has expanded its reach and will make a positive impact in the lives of a wider group of individuals. The MOU with DFCC Bank and DFCC Vardhana Bank PLC is the latest in a series of forays made by Union Assurance in the banking sector. This partnership is a mutually beneficial agreement that allow the banks to have a one stop shop facility for its customers, while allowing the Insurance giant to tap in to a wider customer base with a diverse range of insurance needs. Niranjan Nagendra, General Manager – Corporate, commenting on the partnership, said: “This tie up will not only help us to have a strong corporate relationship with the banks but will also assist us to reach out to a diversified customer base to give the best of Insurance solutions and develop new relationships in untapped markets.” While this MOU provides benefits to both parties involved, the definitive benefits trickle down to the customers – who now have access to world class banking facilities of their respective banks with the added benefit of having a direct line to Sri Lanka’s most innovative insurance provider.