Canara HSBC OBC Life Insurance Company
Canara HSBC OBC Life Insurance Launched in 2008 is a joint venture between HSBC Insurance Holding Ltd, Canara Bank and Oriental Bank of Commerce (OBC). Canara Bank and Oriental Bank of Commerce are two of India's largest public sector banks and HSBC Insurance (Asia Pacific) Holdings Limited is the Asian insurance arm of one of the world's largest banking and financial services groups - HSBC. In this venture, Canara Bank owns 51% equity while HSBC Insurance and OBC own 26% and 23% equity respectively. The company has exclusive access to around 60 million customers and works as a pan India network with around 7000 branches of the three shareholder banks across the country. Moreover, the company provides necessary training and coaching support to the bank staff across the 28 centers in country. With a huge customer base the company provides most customized products to meet the needs of the buyers. The policies offered by the company has a maximum tenure of 40 years and the eligibility criteria ranges from minimum 18 years - maximum 70 years. Canara HSBC Oriental Bank of Commerce Life Insurance is first to launch 'Immediate Payouts on Death Claim' under which the deceased's family will receive the fund value immediately on registration of death claim under unit-linked policies. The Economic Times has awarded the company with "ET Promising Brands of 2015." This award distinguishes the company as a trusted brand and shows signs of its commitment on customer centricity. Other than that, the company won several prestigious awards including "Best Training Initiative for Insurance Sector", "Life Insurance Company of the Year 2013" and "Best Sales Development Programme" across industries in Asia.