Canara HSBC Oriental Bank of Commerce Life Insurance Co

The Company has exclusive access to around 60 million customers and a pan-India network of over 6500 branches of Canara Bank, HSBC and Oriental Bank of Commerce. The formidable distribution strength and in-depth local market knowledge of Canara Bank and Oriental Bank of Commerce coupled with the considerable insurance experience, product range and proven Bancassurance capabilities of HSBC make this an unparalleled union of financial strength, expertise and most importantly, trust. To deliver affordable insurance solutions to address the needs of the rural population, the social sector and economically weaker sections of the society, especially those who have no or very little access to organised financial services, the Company has also tied up with two Rural Regional Banks (RRBs) – Pragati Krishna Gramin Bank in Karnataka and Kerala Gramin Bank in Kerala that have a network of over 600 branches and reach out to more than 6 million customers. Canara HSBC Oriental Bank of Commerce Mission: Life Insurance Company understands that today innovation is a key differentiator. Based on customer needs, the Company currently offers 14 products – 5 unit-linked and 9 traditional; 9 out of these are individual and 5 are group products. The company achieved statutory break-even in 5th year of operations owing to its bancassurance business model, leading to a lean cost structure, strong persistency levels and superior underwriting process.