Janashakthi teams up with ICICI bank in strategic tie-up for Bancassurance

Picture shows - Managing Director Janashakthi Insurance Co Ltd Prakash Schaffter (third from left) and Country Head/ICICI Bank (Sri Lanka) Prem Thampi exchange the MOU. Also in the picture are (L to R) General Manager (Insurance) JICL Ms Dayalanie Abeygunawardana, Deputy Country Head ICICI Bank (Sri Lanka) Romesh Elapatha, General Manager (Sales & Marketing) JICL Ravi Liyanage and Senior Vice President / Head - Retail Assets ICICI Bank Sri Lanka Kurien Elias.

Janashakthi Insurance and the ICICI Bank, India’s largest private bank, joined forces in a strategic partnership for a bancassurance arrangement in a bid to provide both banking and insurance solutions to customers under one roof.

Products such as Janashakthi Full Option (motor insurance), Janashakthi Awaranaya (fire and burglary insurance), Janashakthi Worldwide Travel, Janashakthi e-Marine and Title insurance will be initially offered to customers through this special arrangement.

Life insurance products such as Decreasing Term Assurance under Janashakthi Loan Guard, Janashakthi Vishrama – Retirement products will also be available through this operation.

“We have been exploring the opportunity to find a right partner for this emerging trend in the global arena for distribution of insurance products and services,” Managing Director of Janashakthi Insurance Co Ltd, Prakash Schaffter said.

Country Head of ICICI Bank, Prem Kumar Thampi said in India ICICI Bank has been a pioneer in leveraging synergies in the financial sector through strategic tie-ups with various industry players.