Aviva, a multinational insurance firm based in the UK, has made two prolific pacts with HSBC, a UK based banking & financial service provider endorsing global operations. The first deal is apparently a ten-year distribution agreement and is touted to be one of the biggest bancassurance transactions carried out across the nation. The agreement will reportedly allow the customers of this financial services market player to purchase travel coverage and underwritten home insurance from Aviva with the help of digital banking operations inclusive of mobile banking along with the bank’s extensive mobile operations as well as other online banking networks. The various branches of HSBC across the UK will also provide help and guidance regarding the insurance purchase. The bancassurance deal will also provide massive growth avenues for AVIVA to expand its insurance business by and large in the near future. This current contract is the extension of the previous five-year deal made by the Europe insurance industry participant with HSBC to offer extensive travel and home coverage facility to the latter’s consumers.
The new partnership deal between Aviva and HSBC will also help the latter to offer a spectrum of general insurance coverages to its customers. These coverages will be provided in a plethora of ways that are easy to carry out as well as user-friendly. Rise in air travel and property acquisition will provide a boost to the insurance sector with more customers buying insurance coverage as a part of their security plans.
In its second agreement, Aviva has further extended the period of the title patronage of its Rugby Union premiership, which is supposed to expire by the end of 2018. This will also signify the firm’s eighth consecutive term as one of most dominant competitive partners. As per the extension of the Aviva’s partnership with the Rugby Premiership, the former will work with the latter along with twelve other rugby clubs on the firm’s community schemes such as Aviva community fund and Aviva tackling numbers. Both these schemes introduced by Aviva will make remarkable contributions towards upliftment of the living standards of Aviva families and its communities across the nation. The deals will also make an impact on the insurance as well as banking sectors across the UK.
Dhananjay develops content for Market Size Forecasters. A post graduate in mathematics as well as business administration, he worked as a process executive in Infosys BPO Limited before switching his professional genre. Following his childhood passion, he opted for a career in writing and now pens d...