Canara HSBC Life Insurance Company Limited (“Canara HSBC Life Insurance”) has forged a strategic distribution partnership with GIC Housing Finance Limited (“GICHF”). This collaboration aims to provide enhanced financial security solutions to GICHF’s home loan customers.
Through this partnership, Canara HSBC Life Insurance will offer its ‘Group Asset Secure’ product, a credit life insurance plan designed to protect borrowers and their families against loan liabilities in unforeseen circumstances. This initiative aligns with and supports India’s growing ambition of homeownership.
The alliance presents a financial protection option for GIC Housing Finance’s diverse customer base, which integrates a robust insurance solution into the home loan process. This reinforces the commitment of both Canara HSBC Life Insurance and GIC Housing Finance to customer-centric financial solutions.
Mr. Sachindra Salvi, Managing Director & Chief Executive Officer, GIC Housing Finance Limited, emphasized the importance of financial security in responsible lending. “For aspiring homeowners in India, it is imperative that borrowers have access to solutions that safeguard their long-term financial well-being. Our partnership with Canara HSBC Life Insurance reinforces our commitment to offering not just loans but comprehensive, financial solutions that we believe will help customers build their futures with confidence,” he stated.
Mr. Rishi Mathur, Chief Distribution Officer, Alternate Channels and Chief Marketing Officer, Canara HSBC Life Insurance, expressed enthusiasm for the partnership. “We are excited to partner with GIC Housing Finance to integrate our financial security product for home loan borrowers. At Canara HSBC Life Insurance, we believe in building financial resilience for our customers, and this partnership is a pioneering step in the right direction – securing GICHF borrower families against potential financial uncertainty on loss of a loved one. We are committed to bringing such innovative solutions to the housing loan market.”
Mr. S. Achuta Rama Murthy, Marketing and Sales Head, GIC Housing Finance Limited, added, “By partnering with Canara HSBC Life Insurance, we are ensuring that borrowers can fulfill their dream of homeownership with the confidence that their financial future remains protected, even in challenging circumstances.”
This strategic partnership highlights the significance of financial protection in conjunction with loan offerings. By combining GIC HFC’s lending expertise with Canara HSBC Life Insurance’s customer-centric insurance solutions, this collaboration seeks to create a more resilient and financially secure environment for borrowers.
