Karnataka Bank in association with Bajaj Allianz General Insurance Co. Ltd. launched QR code based two wheeler insurance

Deepthi | Myequity news | Date : 27-09-2018 20:10:00 IST

Karnataka Bank today launched unique QR code based two wheeler insurance product in association with m/s Bajaj Allianz General Insurance Co. Ltd. With this digital initiative, a paperless and instant two wheeler insurance policy can be issued in two minutes.

Speaking on the occasion, Shri Mahabaleshwara M.S., Managing Director & CEO of the Bank said, “the two wheelers is one of the biggest segments in automobile industry in the country which is growing exponentially year after year. However, the two wheeler insurance penetration is just 25°/o, which indicate great business opportunity for this line of business. Karnataka Bank is happy to provide one more product as a value addition to all its customers”.

Smt. Alpana Singh, President, Bajaj Allianz General Insurance Co. Ltd. said, “This tie-up is a big opportunity, as both the Bank and the Company strongly believe in value addition to its customers. With strong presence of Karnataka Bank across India, this unique product will give us an opportunity to expand our base."

Chief operating officer, Shri Raghavendra Bhat in., General Managers Shri Chandrashekar Rao B., Shri Balachandra Y.V., Shri Nagaraja Rao B., Shri Gokuldas Pai, Shri Manjunatha Bhat B.K., Shri Mahalingeshwara K. and others were present on the occasion on behalf of the Bank. Shri Jackson Jacob, Assistant Vice-President and other representatives were present from Bajaj Allianz General Insurance Co. Ltd.

About Karnataka Bank Limited:

The Karnataka Bank Limited is a scheduled commercial banking institution based in Mangaluru in Karnataka, India. Karnataka Bank Limited has a network of 814 branches, 1374 ATMs and 160 e-lobbies/mini e-lobbies across 22 states and 2 union territories. It has 8,220 employees and over 9.65 million customers throughout the country. Its shares are privately owned by over 1,46,000 shareholders. In August 2008, Karnataka Bank Limited received the Sun and NDTV Green IT Award. Sun Microsystems and NDTV gave the award to in recognition of the bank's "green policies" and use of earth-friendly technology such as solar power. The bank has the Best Bank Award for "Managing IT Risk" under small bank category for the year 2010-11, instituted by Institute for Development and Research in Banking Technology (IDRBT). Karnataka Bank Limited has adopted Core banking, Internet banking and has established its "MoneyPlant" [1374 Automated Teller Machine] system across the country.

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