J&K Bank has entered into an agreement with the general insurance company IFFCO-Tokio to provide additional options of insurance to its customers.
IFFCO-Tokio General Insurance is a joint venture company between one of the world's biggest cooperative societies, Indian Farmers Fertilizer Cooperative (IFFCO) and the largest listed insurance group in Japan, Tokio Marine Group.
The agreement between J&K Bank and IFFCO-Tokio was signed in presence of chairman and CEO Parvez Ahmed and managing director IFFCO TokioWarendra Sinha, director marketing Anamika Roy Rashtrawar and director operations Jun Matsui at the bank's Corporate Office in Srinagar.
Bank's executive presidents RK Chibber, Ab Rashid Shiegan, president M YounisPatoo, vice presidents VibhakarKhajuria and RoshanKhayal Khan were also present on the occasion. The bank's president insurance M YounisPatoo signed the MoU on behalf of the bank while as Anamika Roy Rashtrawarput in her signatures representing IFFCO Tokio.
While speaking on the occasion, Ahmed conveyed the insurance company to deliver the best available products and services to the customers of J&K Bank and script a next-level service set-up for them.
"In J&K, our bank is not merely a brand or a company but an institution of critical importance to the financial architecture of the state itself. Being partners here means a lot more than garnering business for both the companies. It is a responsibility to deliver and deliver better than your competitors," Ahmed said.
"Since customers remain at the centre of our strategy, every effort of the bank is therefore aimed at adding value to its products and services so as to serve and satisfy them. Through this MoU with us, your products have already reached the largest retail chain of finance in the state. Therefore, it is all up to your business acumen to generate not only goodwill among our customers but a healthy competitive ambiance for best insurance products within Jammu and Kashmir."
He said, "I am sure that IFFCO-Tokio will live up to their brand reputation along with our expectations and deliver its products and services to the satisfaction of our customers in J&K."
Terming the signing of the agreement as a "momentous occasion", managing director IFFCO-TOKIO, Warendra Sinha said, "For us it is important that people at large perceive us as a company sensitive to their needs and expectations. We will definitely take the customer service to the next level as desired by the bank and fill the existing gaps by providing customized products and personalized services."
The insurer shall start its operations in two districts, Srinagar and Anantnag to start with, effective from April 1, 2019.