Janaseva Sahakari Bank Ltd., Hadapsar, Pune has been paying attention for providing value added services through bank’s own products and third party products as well. The Bank has arranged to conveniently offer Insurance Services for its customers. The Bank has entered into contract with five insurance companies with a view to enable its customers to opt for suitable & need based insurance policies under general, life and health segments. The Bank fulfilled IRDA criterion and strictly follows regulatory norms.
Under General Insurance segment, United India Insurance Co. Ltd. and ICICI Lombard General Insurance Co. Ltd. provide their services. Both companies are renowned for better products and effective network.
In Health Care the Bank has been partnering with Religare Health Insurance Co. Ltd. with the help of this insurance provider bank has come up with a customer friendly Health Insurance Product titled as “JAN-SWASTHYA”. It has got very good features and relatively low premium. Apart from these, the company is known for high claim settlement ratio say 98% of total claims submitted.
Bank's core insurance business is in Life Segment. Here, two prominent life Insurance providers have been associated, namely Max Life Insurance Co. Ltd. and SBI Life Insurance Co. Ltd., Max Life Insurance Co. Ltd. having global experience and lead role all over, is effectively engaged in offering innovative and high ‘rate of returns’ (r-o-r) policies to its customers. A varied product range and good network is asset of the company. Similarly SBI Life Insurance Co. Ltd. popular itself by banner of SBI, has been aggressively occupying market space and emerged as 3rd largest Insurance Company.
Along with these Insurance Companies Bank is also providing insurance services of PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) and PMSBY (Pradhan Mantri Suraksha Bima Yojana). For providing these services, the bank has entered into a special agreement with Life Insurance Corporation of India and United India Insurance Company Ltd for respective schemes.