Karur Vsysya Bank, Kshema General launch new insurance product for rural customers

Private sector Karur Vysya Bank has signed a strategic bancassurance alliance with Kshema General Insurance Ltd to offer dual-benefit insurance product Kshema Kisan Sathi to rural communities.

The collaboration brings the Tamil Nadu-headquartered bank's stronghold in rural and semi-urban banking areas and Kshema General Insurance's technology-driven insurance solutions.

''As a Bank deeply embedded in India's rural landscape, we understand the challenges our customers face in their day-to-day lives. With Kshema Kisan Sathi, we are not just offering an insurance product, we are delivering peace of mind. This partnership reflects our commitment to build meaningful financial ecosystems that support sustainable livelihoods,'' Karur Vysya Bank Managing Director and CEO Ramesh Babu said in a press release on Wednesday.

The joint initiative by the two entities is more than just a partnership. It is a mission to empower, insure and uplift the agri and rural economy leveraging Kshema's strength and KVB's rural customer base, the release said.

''This pioneering bancassurance product offers dual protection of livelihood and family by combining crop insurance and personal accident insurance for valued customers of KVB. Kshema Kisan Sathi was designed to achieve the twin objectives of enabling financial security, and self-sufficiency for millions of rural families and agri-entrepreneurs,'' said Kshema General Insurance Ltd Chairman Natraj Nukala.

''This exclusive product is the keystone in Kshema's plan of building a data-driven rural ecosystem intelligence using financial and insurance insights while deploying tech-forward innovations like satellite imaging to build predictive, preventive and proactive solutions,'' Nukala added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)