Kotak Life Insurance enters alliance with DHFL Vysya Housing Finance
21 January 2009
Kotak Mahindra Old Mutual Life Insurance Ltd has tied-up with Bangalore-based housing finance company has appointed DHFL Vysya Housing Finance Ltd as its corporate agent to provide value added products to its customers.
Last year DHFL and Kotak Life Insurance entered a deal for Kotak to provide group insurance cover to DHFL's home loan borrowers.
Under the current agreement DHFL Vysya will sell some of Kotak Life Insurance's key products such as Kotak Smart Advantage Plan, Kotak Retirement Income Plan and Headstart Child Plans. DHFL Vysya currently has 18 branches spread across Karnataka, Tamil Nadu, Andhra Pradesh, Pune, Mumbai and Noida.
"DHFL has a strong presence in the southern market specially Tier I and II cities," said Gaurang Shah, managing director, Kotak Life Insurance said,. "Through this alliance we look forward to making deeper inroads into the southern market."
R. Nambirajan, managing director, DHFL Vysya Housing Finance said, "In the present downturn, we thought it appropriate to cross-sell insurance products among our existing clientele base of over 8,000 with twin objective of mitigating their risks and augmenting our revenue."