Janashakthi-ICICI Bank in discussion for strategic tie-up

Janashakthi Insurance and ICICI Bank concluded discussions for a bancassurance channel agreement in Mumbai recently.

This follows the recent visit to Mumbai of a high powered delegation of Janashakthi headed by General Manager Sales and Marketing, Ravi Liyanage.

“Janashakthi Insurance is extremely pleased to have an opportunity to be associated with the ICICI Bank, having seen the success achieved by the ICICI Group,” Liyanage said.

With the expected new partnership, ICICI Bank customers in Sri Lanka will receive an exclusive and wide array of financial solutions and services at the bank premises itself either by sharing the Janashakthi extranet or through web enabled online services apart from the professional advice by insurance professionals placed in the bank premises.

The proposed business model will fundamentally change the status quo from a ‘service centre’ to a highly customised ‘Sales Centre’. Janashakthi Insurance customers too will receive exclusive banking solutions from our bank partner ICICI Bank,” Liyanage said.

“This proposed channel will initially provide insurance products such as Janashakthi Full Option (motor insurance), Janashakthi Awaranaya (fire and burglary insurance), Janashakthi Worldwide Travel, Janashakthi e-marine and Title insurance.

Life insurance products such as Decreasing Term Assurance under Janashakthi Loan Guard, Janashakthi Vishrama Retirement Fund will be available under this arrangement.

Janashakthi’s constant investment in a state-of-the-art IT system has enabled the company to offer prompt, convenient and also efficient services to policy holders all over the country.

The company invests in new technology to establish itself as the most technologically superior insurer in the Sri Lankan market.