Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was launched in June 2008 and is jointly owned by two of India’s largest public sector banks – Canara Bank (holding 51%) and Oriental Bank of Commerce (23%) – and HSBC Insurance (Asia Pacific) Holdings Limited (26%), the Asian insurance arm of one of the world’s largest banking and financial services groups – HSBC.
The formidable distribution strength and in-depth local market knowledge of Canara Bank and Oriental Bank of Commerce which is widely spread across length and breadth of the country coupled with the considerable insurance experience, product range and proven bancassurance capabilities of HSBC make Canara HSBC Oriental Bank of Commerce Life Insurance an unparalleled union of financial strength, expertise and most importantly “Trust”.
The Company has access to around 60 million customers and a pan-India network of over 8000+ branches of Canara Bank, HSBC and Oriental Bank of Commerce. By selling through the three banks’ branches, seeking to seamlessly integrate systems and processes to reduce costs, Canara HSBC Oriental Bank of Commerce Life Insurance aims to pass on the savings to customers through lower charges thus making the Company’s policies among the most competitive and accessible in the market. The company’s core philosophy is ‘Treating Customers fairly’ and is hence committed to deliver ‘Value for Money (VFM)’ to its customers. The Company has made considerable efforts in integrating a culture of corporate governance, compliance and risk management with a clear focus on Customer Centricity.
Canara HSBC Oriental Bank of Commerce Life Insurance Company has conducted itself in a socially, environmentally and ethically prudent manner with an endeavour to make positive contributions towards the betterment of the society. “Giving back” to the society is a core belief in each of the employees and this has been the guiding principle since the company has been in existence.