Bank of Maharashtra, one of India’s oldest public sector banks, has entered into a Corporate Agency agreement with Cigna TTK Health to market the insurer’s products in the bank’s branches across the entire country. Under the agreement, Bank of Maharashtra will offer the entire gamut of Cigna TTK’s superior health insurance products to its 2 crore customers through its network of over 1,896 branches, its 14,000 bank employees across the country as well as through its digital platforms.
Cigna TTK brings its global experience, innovative and customized health insurance solutions for the Indian customer. It believes in partnering with customers not only in illness but also in wellness, providing cutting edge health insurance products and services.
Ravindra Marathe, Managing Director & CEO, Bank of Maharashtra said, “Bank of Maharashtra’s tie-up with Cigna TTK will bolster penetration of health insurance in the country, which is currently between 5-7%. Additionally, the World Health Organization’s (WHO) Sustainable Development Goals 2030 include ensuring healthy lives and promoting well-being for all at all ages, with a specific focus on India. The bancassurance tie-up will be a positive step towards this end.”
He added, “We are glad to have Cigna TTK as our health insurance partner, and our coming together will help us in not only offering a wide range of products, but also help us enhance customer satisfaction and deliver increased value to our customers.”
Sandeep Patel, CEO & MD, Cigna TTK Health Insurance Company Ltd. said, “We are truly looking forward to nurturing our partnership with Bank of Maharashtra, which is one of the leading public sector banks in India. At Cigna TTK, it is our mission to improve the health, wellbeing and sense of security to the people we serve.” He added, “Bank of Maharashtra enjoys great visibility in a large number of tier III and tier IV cities, helping expand Cigna TTK’s footprint across previously unchartered territories, helping to offer affordable health insurance solutions to an increasing number of people.”