The combined nature of the savings account coupled with the insurance product simplicity and ease of on-boarding is expected to further help JKB fulfill its charter for ‘Financial Inclusion and Financial Deepening.’
PNB MetLife embarked on their journey with J&K Bank in 2002 to help the bank customers get insurance. Since then they have covered lives of close to 350,000 customers of J&K Bank with life cover amounting to approximately ₹11,000 crore. Taking another significant step in this successful journey, PNB MetLife has launched a new technology based platform to create an innovative financial proposition for the people of Jammu and Kashmir. The insurance provider and the bank have created a platform which would help the customers to benefit in real time. They have deployed the latest digital tools that function in synchronization with the systems at the PNB MetLife and J&K Bank.
“Digitization is playing a significant role in driving financial inclusion. However to deepen the impact and reach in challenging terrains like Jammu and Kashmir, customized platforms and propositions are required. We have tried to address one of the biggest core issues for the bank which has branches in the remote areas where the connectivity is a huge challenge,” said Samrat Das, CIO, PNB MetLife.
The insurer and the bank co-created an integrated banking solution – JKB Family Protection Savings Bank Account.
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