The J&K State Cooperative Bank on Oct 23, inked a memorandum of understanding with ICICI Lombard General Insurance Company to sell latter''s products in the state. The partnership has been established in view of the new guidelines of RBI. They received partnership proposals from seven leading insurance companies of country but finally approved ICICI Lombard''s proposal for selling its property protection, business investment, travel solution and health insurance products to our customers across state. The State Cooperative Bank (SCB) can now offer their customers the added benefit of insurance solutions from ICICI Lombard products and services through different branches across the state.
The tie up will also substantially strengthen ICICI Lombard presence in the state. SCB is an established organization for over 90 years in the state. The partnership with the ICICI will help SCB to channelize the savings of our depositors in a manner that is both safe and rewarding even as it provides the customers security against the unforeseen contingencies. The SCB is looking forward that ICICI Lombard will tailor its products according to the need and affordability of the rural people in the state. Important services like education of children, daughter''s marriage, and flexible premium payments will be taken into account while planning the products for its customers.
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