J&K Bank Settles customer’s Rs.83 Lakh MetLife insurance claim

SRINAGAR:  J&K Bank Executive President Parvez Ahmad handed over an insurance claim cheque worth Rs.83 Lakhs to one Riyaz Ahmad, claimant and legal heir of Late Ali Mohammad Dar at a simple but impressive function held at Bank’s Corporate Headquarters here today. The deceased policy holder had purchased three policies from the PNB Metlife through J&K Bank’s business unit Yaripora, Kulgam in 2011. 

Among others present on the occasion included P.K Tickoo, Bank’s President, Mushtaq Ahmad Mir, Bank’s Vice President, Pir Masood Ahmad, Bank’s cluster Head, Ms Shahida Nisar, Bank’s Incharge for Insurance Business, Rauf Ahmad, Regional Head Banassurance, PNB MetLife, Ms Pooja Khan, Associate Director, Corporate Communications, PNB MetLife and other officials from J&K Bank and PNB Metlife.

Handing over the cheque, Parvez Ahmad expressed his condolences to the family of the deceased policy holder and said, “While we cannot do anything to mitigate the emotional loss, we can atleast ensure that financially our policyholder’s dependents are secure”.

For J&K Bank and its partner PNB MetLife, it is critical that we deliver on our promise of ensuring financial protection of our customers, he added.   

Describing J&K Bank as a banker to almost every adult of J&K state, Parvez Ahmad said that out of 86 Lakh adult population of the state, around 75 lakh are customers of the J&K Bank. “The reason for sustainability of business and uninterupted growth in a critical state like J&K is the human and personal approach in business operations that we have followed over the decades. At J&K Bank, the most valued and uncompromising thing is the trust and emotional equity of people in the bank,” he said, and stressed, “Preserving and promoting that trust and emotional equity is the guiding principle for us in all our bussiness alliances and partnerships”.

P.K Tickoo in his brief address said that increasing number of claim settlements is a testimony to the fact that J&K Bank and its partner PNB Metlife attach a great importance to customer service, satisfaction and delight. “We understand there are some procedural hiccups in settling claims but together with our insurance partners we try to deliver the best in the minimum time-frame”, he added.

PNB MetLife with J&K Bank as a partner has secured over 208000 lives in the valley and paid over 995 claims worth Rs.21 crores.

PNB MetLife, one of the major players in insurance business in the J&K state and also rest of the country, is a joint venture between MetLife International Holdings Inc, Punjab National Bank Ltd, Jammu and Kashmir Bank Ltd., M. pallonji and Company Private Ltd. and other private investors.

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