Canara HSBC Life Insurance Company Limited (“Canara HSBC Life Insurance”) has announced 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. This comprehensive credit life insurance plan is designed to protect borrowers and their families from loan liabilities in unforeseen circumstances. The goal is to support India’s ambition of homeownership.
By integrating this insurance solution into the home loan process, Canara HSBC Life Insurance and GIC Housing Finance are reinforcing their commitment to customer-centric financial solutions.
Sachindra Salvi, Managing Director & Chief Executive Officer of GIC Housing Finance Limited, highlighted the importance of financial security in responsible lending, stating, “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.”
Rishi Mathur, Chief Distribution Officer, Alternate Channels and Chief Marketing Officer, Canara HSBC Life Insurance, added that they 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 pionering step in the right direction – securing GICHF borrower families against potential financial uncertatinty on the loss of a loved one. We are committed to bringing such innovative solutions to the housing loan market.” Murthy 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.”
About Canara HSBC Life Insurance:
Canara HSBC Life Insurance Company Limited was incorporated in 2007 as a joint venture. Canara Bank holds 51 per cent, and HSBC Insurance (Asia Pacific) Holdings Limited holds 26 per cent. Punjab National Bank holds 23% as an investor. As a major bancassurance-led insurance company, Canara HSBC Life brings together the trust and market knowledge of public and private banks.
The company sells and services customers through various channels, including Canara Bank and HSBC branches. It offers a vast portfolio of life insurance solutions, covering individual and group life, health, term plans, retirement solutions, credit life, and employee benefit segments. The company focuses on technologically advanced methods for business, customer service, and product marketing. Their philosophy is to be the “Promises Ka Partner” to their customers.
