Mumbai, India (CU)_ India Post Payments Bank (IPPB) and Bajaj Allianz General Insurance have formed a strategic partnership to market the non-life insurance products throughout the country. According to Bajaj Allianz, “The product line will include health and medical products, personal accident and auto insurance, among other innovative products tailored to meet Bharat’s protection needs”.
The Gramin Dak Sevaks, or postal employees, have been approved as points of sale or POSPs under the POSP model and have been taught on the items that the points of sale are permitted to sell. According to the insurer, under the collaboration, IPPB will aim to provide citizens with economical insurance products using its powerful network which includes over 650 branches and 136,000 banking access points.
The Insurance Regulatory and Development Authority of India (Irdai) regulates the sale of particular retail products such as…
