Star Health and Allied Insurance and Punjab National Bank enter into long term Bancassurance Tie-up
New Delhi, 28 January 2023: Star Health and Allied Insurance, one of the leading Health Insurance companies in India, renewed its strategic corporate agency tie-up with Punjab National Bank (PNB) for a long-term period. Punjab National Bank, one of India`s oldest and second largest nationalized bank, will continue to distribute Star Health’s insurance products across all their branches pan India. This long-term partnership is a testament to Star Health’s customer service, goodwill, and track record.
Under this strategic agreement, Star Health’s best-in-class health insurance products will be available through the Bank’s extensive distribution network of around 10,000+ branches across the country, providing customers with a one-stop solution for all their health insurance needs.
Mr. Biju Menon, Joint Executive Director, Star Health and Allied Insurance Co. Ltd, said, “We are pleased to renew our partnership with Punjab National Bank which is India’s second largest public sector bank. This long term partnership is a rarity in the industry and substantiates Star Health’s commitment to customer centricity and product offerings. With this strategic tie-up, we endeavor to expand our reach to offer quality health insurance products and services to PNB’s customers. This initiative will be a significant milestone in empowering customers to financially safeguard themselves from rising healthcare costs.”
The partnership will enable both Punjab National Bank, the second largest public sector bank in India, and Star Health, India’s first standalone health insurance company to further increase insurance penetration pan India while making health insurance easily accessible across regions.
“At Star Heath, we strive to offer innovative products that cater to every customer. Punjab National Bank’s strong presence across the country and Star Health’s Insurance expertise will help address the concerns of raising hospitalization costs that the common man faces today.” added Biju Menon.