Deutsche Bank and Max Bupa enter into a bancassurance tie up
New Delhi, November 12, 2013: Deutsche Bank and Max Bupa Health Insurance announced their bancassurance agency partnership to provide Max Bupa’s comprehensive health insurance offerings to Deutsche Bank customers across the country.
The cooperation comes on the back of IRDA’s guidelines which permits the banks to act as corporate agents of one stand alone health insurance company in addition to their existing one life and one non-life insurance companies. The agency partnership combines Max Bupa’s experience and leadership in introducing innovative health insurance products with Deutsche Bank’s affluent clientele in the country.
Speaking about the association Prashant Joshi, Head, Retail Banking India, Deutsche Bank said, “I am delighted to announce our partnership with Max Bupa. With increased life expectancy, rising hospitalisation/ medical costs, and benefits of cashless hospitalisation, its imperative for individuals to get adequate health insurance to protect themselves and their families. With this partnership, we aim to provide an umbrella of innovative solutions to our customers’ health insurance needs.”
Talking about Max Bupa’s commitment towards making quality Health Insurance more accessible for customers, Manasije Mishra, CEO, Max Bupa said, “Max Bupa and Deutsche Bank reflect the long standing commitment in providing quality product and service to customers. The alliance is an important milestone for us as bancassurance is an important part of our growth strategy.” Manasije added, “We want people to live healthier and more successful lives and this will become a reality when people across India use Health Insurance to protect their families’ health. It is our endeavour to continuously innovate and make our products more widely available.”
Through this agency partnership, Deutsche Bank will offer a comprehensive product suite to customers including the flagship offering Heartbeat, the most comprehensive health cover in the market. Heartbeat is an easy to buy plan that provides comprehensive coverage to customers of different age groups as per their health needs. In addition, it also helps customers care for their health proactively over time. The product suite will also include Health Companion which offers differential city wise pricing and Health Assurance, a first of its kind three in one assured cash benefit plan that covers critical illness, personal accident and hospital cash.
About Deutsche Bank
Deutsche Bank is a leading client-centric global universal bank. Its businesses encompass a wide range of products and services in investment, corporate and retail banking as well as in asset and wealth management. The Group operates in all regions of the world.
Deutsche Bank is the leader in its German home market and enjoys an outstanding position in Europe. The bank also has a strong competitive position in North America as well as in key emerging markets, particularly in Asia. The Group is backed by strong capital and liquidity positions. Deutsche Bank aims to be at the forefront of cultural change in the financial services sector.
About Max Bupa Health Insurance
Max Bupa Health Insurance is a, 74:26, joint venture between Max India Limited, a multi-business corporate with expertise in life insurance and health care and Bupa, a leading international healthcare provider with 65 years of healthcare knowledge. Max Bupa brings together a combination of Bupa’s global health insurance expertise and customer service expertise with Max India’s understanding and experience of the Indian health and insurance sectors. Max Bupa offers quality health insurance services through a dedicated team of over 1000 people and its network of 21 offices across 13 cities - Delhi, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Ludhiana, Chandigarh, Jaipur, Surat, Kochi, Kolkata and Patna. Max Bupa offers individual and family oriented health insurance policies for Indians across all age groups.
Strong Network of 3000 hospitals
Max Bupa Health Insurance has a direct working relationship with a network of 3000 top quality hospitals and healthcare providers and at the same time the company plans to extend its network of hospitals to other parts of the country. Max Bupa services customers directly without third party involvement. For more details about the company and a list of all our network hospitals please visit www.maxbupa.com.
About Max India
Max India Group is a multi-business corporate, driven by the spirit of enterprise and focused on people and service oriented businesses. The Company is headquartered in New Delhi, India. Max India is in the ‘Business of Life’ with its vision is to be one of India’s most admired corporates for Service Excellence. It ‘Protects Life’ through its Life Insurance subsidiary Max Life, a joint venture between Max India and Mutsui Sumitomo; ‘Cares for Life’ through its Healthcare company, Max Healthcare, a joint venture between Max India and Life Healthcare, South Africa; ‘Enhances Life’ through its Health Insurance company, Max Bupa Health Insurance, a joint venture between Max India and Bupa Finance Plc., UK; ’Rejuvenates Life’ through its Senior Living business Antara, a fully owned subsidiary of Max India and ‘Improves Life’ through its Clinical Research business, Max Neeman, a fully owned subsidiary of Max India. The Group also continues its interest in manufacture of Specialty Products for the packaging industry through its strategic business unit Max Specialty Films.
The flagship company Max India Limited is a widely held public listed entity, with the owner sponsors, led by Analjit Singh holding over 39% stake. Its other shareholders include some of world’s best Institutional Investors such as, Goldman Sachs, International Finance Corporation, Washington (IFC) and Temasek Holdings.
About Bupa: 65 years of Health and Care
Bupa’s purpose is to help people lead longer, healthier, happier lives. Established in 1947, it has over 11.3 million customers in more than 190 countries. Employing over 52,000 people, Bupa has operations around the world, principally in the UK, Australia, Spain, New Zealand and the USA, as well as Hong Kong, Thailand, Saudi Arabia, India, China and across Latin America. A leading international healthcare group, Bupa offers personal and company health insurance, runs care homes for older people and hospitals, and provides workplace health services, health assessments and chronic disease management services, including health coaching, and home healthcare. With no shareholders, Bupa invests its profits to provide more and better healthcare and is committed to making quality, patient-centred, affordable healthcare more accessible in the areas of wellness, chronic disease management and ageing.
For further information, please call:
Deutsche Bank AG
Phone: +91 9820037765
Phone: +91 9711177957