Bajaj Allianz Life Insurance enters into agreement with JK Bank

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Jammu and Kashmir Bank on Monday entered into a corporate agency agreement with Bajaj Allianz Life Insurance Company – one of the country’s leading insurance providers. The agreement has paved way for the Bank to sell the life insurance products of Bajaj Allianz from 1st April, 2023.

At the corporate headquarters, the signing ceremony was attended by several senior officials of J&K Bank and Bajaj Allianz Life Insurance Company. Narjay Gupta, the General Manager and Vertical Head (Cross Selling) of J&K Bank, signed the agreement on behalf of the bank, while Dheeraj Sehgal, the Chief Distribution Officer (Institutional Business) of Bajaj Allianz Life Insurance Company, signed on behalf of the company. The Executive Director of J&K Bank, Sudhir Gupta, was also present. In addition, Syed Rais Maqbool, the General Manager and Vertical Head (Business Support Division) of J&K Bank, and the Business Heads of Bajaj Allianz Life Insurance Company, Varghese Chacko and Zeeshan Andleeb, were also in attendance.

The MD & CEO, Baldev Prakash, praised the bank’s efforts to offer more options to its diverse and expanding customer base throughout the country. In reference to the signing of the corporate agency agreement with the insurance giants LIC of India and Bajaj Allianz Life, which is set to commence operations on April 1, 2023, he stated that this demonstrates the bank’s customer-focused approach, emphasis on prompt execution, and dedication to expanding the range of products and services available to its clients.

Executive Director Sudhir Gupta hailed the Bank’s business relations with Bajaj Allianz. On the occasion, he said, “Through this agreement we have further strengthened our relationship with Bajaj Allianz. With both organisations being reputed brands in their field of operations, I am sure this partnership will help us achieve our business goals successfully.”

After signing the document, CDO Dheeraj Sehgal praised the J&K Bank for its vital role in J&K and Ladakh, as well as its strategic presence throughout the rest of the country. He expressed gratitude to the bank for the opportunity to collaborate and provide an array of life insurance products to the people, in order to secure their life goals. Dheeraj also stated that he believes the collaboration between J&K Bank and Bajaj Allianz Life Insurance will bring solutions to the life insurance needs of the large population that the bank serves with pride and professionalism.

“Bank’s reach especially in J&K, Ladakh and range of Bajaj Allianz products makes the tie-up beneficial not only for the customers but a win-win for both the institutions”, commented General Manger Narjay Gupta.

“J&K Bank and Bajaj Allianz have strong brand value and rich legacy of serving people”, said General Manager Syed Rais Maqbool adding that the agreement will facilitate the Bank’s customers besides enabling both the companies to leverage the strengths of each other.

Zeeshan Andleeb, the Business Head of Bajaj Allianz Life, stated that he is confident that the collaboration with J&K Bank will bring advantages and success to all parties involved in the value chain, particularly in the regions of J&K and Ladakh.

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