Federal Bank has partnered with Star Health and Allied Insurance Co Ltd as a corporate agent to offer a diverse range of innovative health insurance products to the bank’s 8.90 million customers, served through 1,291 banking locations around the country. Customers of the bank can use Star Health’s retail and group affinity products through the bank’s various distribution channels, allowing them to meet all of their financial needs in one place.
“The bank’s customers can avail benefits of Star Health’s retail products and group affinity products through the bank’s various distribution channels,” they said in a statement on Friday.
Commenting on the new tie-up, Shalini Warrier, Executive Director & Business Head – Retail at Federal Bank, said, “We are delighted to tie-up with Star Health Insurance, one of the leading players in the stand-alone Health Insurance industry in India. This is a significant milestone for both Star Health and Federal Bank. Through this partnership, we will be in a position to offer our customers a wide range of affordable health insurance products. We look forward to the alliance with Star Health Insurance.”
Speaking on the tie-up for bancassurance, Anand Roy, Managing Director, Star Health and Allied Insurance Co. Ltd, said, “We at Star Health believe that health insurance is essential for every citizen. Our strategic tie-up with Federal Bank will help us reach out to their customers and enable them to safeguard themselves from rising healthcare costs. It brings us great joy in announcing this tie-up with Federal Bank, one of the prominent commercial banks in the private sector and we look forward to a long-term, mutually beneficial partnership.”
