Chola MS Renews the Partnership with IndusInd Bank

Chola MS General Insurance and IndusInd Bank Ltd have reestablished their corporate organisation arrangement for five years. This ten-year-long association has accumulated around Rs. 37 billion in the previous five years and rendered services for around a million clients during the last financial year only.

SS Gopalarathnam, Managing Director of Chola MS, said that the insurer has embarked on different digital initiatives to help IndusInd Bank offer more products and services across customer segments of the consumer banking division.

The instant policy issuance procedure has prompted better client retention and fulfilment for the bank, and the advantages of cost decrease have been passed on to the end customer, he added. During the next few months, the association is outfitted to take off more innovative digital insurance solutions, particularly in claims servicing, which will ensure the selection of more items per customer.

Chola MS provides a wide scope of insurance products across the motor and non-motor lines of business through IndusInd Bank's outlets all over India. It aims to twofold its premium in the next five years.