Private life insurance company Canara HSBC Oriental Bank of Commerce Life Insurance announced entering into an alliance with Can Fin Homes. All the life insurance products of Canara HSBC Oriental Bank of Commerce Life Insurance would be made available to customers of Can Fin Homes and would be sold by the licensed staff of the Company.

Canara HSBC Oriental Bank of Commerce Life Insurance operates a pure bancassurance model and has access to around 115 million customers and a pan-India network of over 10,000 branches of its partner banks. Can Fin Homes is one of the top players in the housing finance sector in the country with a network of 132 Branches, 20 Affordable Housing Loan Centres (AHLCs) & 20 Satellite Offices spread across various locations of the country and has a customer base of over 1.2 lakh. In tune with the government’s mission to provide “Housing for all by 2022”, the Company has geared itself to provide loans to all income segments of the society thus tapping the vast opportunity that exists in the country.

With in-depth local market knowledge, both Canara HSBC Oriental Bank of Commerce Life Insurance and Can Fin Homes aim to provide long term value creation for its customers. As part of the agreement, Can Fin Homes will be a Corporate Agent for 3 years, however, both the organizations have a long term view of this relationship.

Canara HSBC Oriental Bank of Commerce Life Insurance has bouquet of products catering to multiple customer needs spanning across retirement accumulation and guaranteed lifetime income, savings for child education, comprehensive protection through online and offline plans, savings for multiple needs through guaranteed endowment and customized investment solution for high net worth individuals.

As a one stop solution to meet the needs of Can Fin customers, Canara HSBC Oriental Bank of Commerce Life Insurance also offers Group Secure plan (for protecting the loan which customer has availed) that allows the customers to fulfill their dreams while their loved ones remain protected from the liability.

Announcing the tie up, Mr. Anuj Mathur, Chief Executive Officer, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited said, "We are delighted to announce our Company's distribution tie up with Can Fin Homes, which is a well known name in the housing finance sector in the country. Life insurance is part of wider portfolio of financial products that a person needs to manage their lifestyle and thus protecting their financial future. As a Company, our aim is to provide customers with a range of life insurance products backed by excellent customer service. Together both the Companies will bring in convenience for customers with assurance of quality service."

Mr. S K Hota, Managing Director & Chief Executive Officer, Can Fin Homes said, “We are happy to join hands with Canara HSBC Oriental Bank of Commerce Life Insurance for bringing in best-in-class life insurance products for our customers. Meeting customer needs and delivering value is of utmost importance to us. With this tie up, our customers will get access to a bouquet of life insurance products that will help indemnify their loan liability in case of an unfortunate eventuality. Availing of Life Insurance solution would safeguard and secure the future of the customer's family and hence in the context, the tie up is extremely important from a customer value perspective."