International banking and insurance group Aviva has entered into a bancassurance alliance with India's Induslnd Bank, strengthening its bancassurance position in the South Asian country.
<p>Induslnd Bank has a network of 148 branches in more than 118 locations across India, and has a broad customer base of 1.4 million. The new partnership will offer Induslnd Bank customers a variety of innovative life insurance and savings products. <br /><br />As one of the pioneers of the bancassurance model, Aviva Life Insurance will now have 30 bancassurance partners in India, the largest number of bank partnerships for any private insurer. Through its branches and bancassurance partner locations, the products of the insurance giant will be available in almost 500 towns and cities throughout India. <br /><br />We are delighted to have signed a bancassurance deal with IndusInd Bank, one of India's fastest growing private sector banks, commented Philip Scott, executive director at Aviva International. This partnership is another important milestone for Aviva India, further strengthening our position in the bancassurance market and will assist in our rapid growth in the region.</p>