Canara Bank and their life insurance partner Canara HSBC Oriental Bank of Commerce Life Insurance announced the launch of ‘Webassurance’.

According to the bank, “The launch of this initiative is in line with the company’s strategy of expanding its distribution reach to cover all segments of the bank’s customers, across all channels or touchpoints through which they engage with the Bank. Webassurance further strengthens the digital positioning of Canara Bank and Canara HSBC Oriental Bank of Commerce Life Insurance Company. The online journey is being enabled through the Insurance Self Network Platform (ISNP) of the company where Canara Bank is a participant as the corporate agent of the insurer.

The statement read child future, savings and investments, retirement planning and protection would be covered under this.

R A Sankara Narayanan, Managing Director & Chief Executive Officer, Canara Bank, said, “We are constantly working to empower our customers and stay relevant for their needs. A large and rapidly growing section of our customers are digitally savvy and prefer to engage online for their banking requirements. This customer segment also likes to have control over their purchase process and look for a convenient and 24×7 availability of products and services online. We are confident that with Webassurance, we will be able to service the protection needs of the younger and net-savvy customers of the Bank.”

Anuj Mathur, Managing Director & Chief Executive Officer, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited, said, “We are delighted to announce Webassurance as a key milestone in our journey with Canara Bank, our shareholder and partner bank. This initiative integrates together the digital capabilities of the Bank and the Company to provide a convenient and hassle-free option for the bank customers to fulfill their insurance needs. We are confident that this initiative will help further increase our reach into Canara Bank’s vast customer base and ensure we reach out with relevant solutions to all customers in the Canara Bank family.”