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Axis Bank partners with Tata AIG to offer Group Medicare products for its customers from the LGBTQIA+ Community
Axis Bank

Axis Bank partners with Tata AIG to offer Group Medicare products for its customers from the LGBTQIA+ Community

| @indiablooms | 14 Dec 2022, 03:18 pm

Kolkata: Axis Bank, in line with its ‘DilSeOpen’ philosophy partners with Tata AIG, to offer Group Medicare products for its new customers from the  LGBTQIA+ Community.

In 2021, the Bank announced its initiative ‘ComeAsYouAre’; a Charter of policies and practices for employees and customers from the LGBTQIA+ community. It listed several initiatives that the Bank undertook to embrace diversity, equity and inclusion. It invited same sex partners to open joint savings accounts and/or term deposits, list each other as nominees and gave the option of adding the honorific Mx for customers of varied genders.

This tie up with Tata AIG is a continuation of Axis Bank’s journey in walking the talk and implementing intiatives that embrace diversity, equity and inclusion within the organization and for its customers. With this offering, customers can secure the lives of their partners for medical exigencies regardless of their sexual orientation or marital status. Same Sex Partners can be covered under the Top Up option of their existing Group Medicare products for sum insured of Rs. 15 lakhs available at Rs. 1,999* inclusive of GST, exclusively for Axis Bank Customers.

Commenting on this initiative, Satheesh Krishnamurthy (he/him), EVP & Head - Private, Premium Banking & Third-Party Products, Axis Bank, said : “The ‘diversity & inclusion’ agenda, which is part of the Bank’s wider ESG aligned commitments, has been a strategic focus area. Our work internally focuses on creating equitable processes, products and policies that allow us to create space for everyone to thrive. In this effort, we are glad to have partnered with Tata AIG to offer our customers, a health insurance that covers same sex partners.”

“The Bank has embarked on a journey to expand its inclusive banking offerings, and will roll out many more of such initiatives in a phased manner. We welcome our customers as partners in our journey. ‘ComeAsYouAre’ as we are ‘DilSeOpen’,” he added.

Commenting on this tie-up, Parag Ved (he/him), President - Consumer Business, Tata AIG General Insurance Company Ltd., said : “We at Tata AIG believe that access to good health insurance is a necessity and right for all humans irrespective of their sexual orientation. Our step to extend medical insurance coverage to the LGBTQIA+ customers of Axis Bank will foster better engagement at the center of our business and help build a more welcoming environment for the community. With our belief in the power of diversity, equality, and inclusion, we are delighted to be associated with Axis Bank to insure a healthy future for the LGBTQIA+ community.”

Axis Bank is also celebrating ‘ComeAsYouAre’ Carnival with a host of offers for customers from the LGBTQIA+ community. The Carnival began on 13th December 2022 and will conclude on the 31st January 2023. 

During this period, customers from the LGBTQIA+ community who open a Savings Account with Axis Bank, will get a Rs. 200 Grab Deals voucher redeemable at over 150+ Brands including Myntra, Shoppers Stop, Big Basket, Apollo Pharmacy, Book My Show and many more. Additionally, they will  get a 3-month  Amazon Prime subscription, if they choose to apply for a Forex card through Internet or Mobile banking and load a minimum of USD 2,500 or equivalent currency.

Inclusive Banking Initiatives for Axis Bank Customers are:

Joint Savings Accounts and Term deposits: Can open joint savings accounts and/or term deposits with their partners regardless of sex, gender, sexual orientation or marital status

Listing a loved one as a Nominee: Can list their partners as a nominee for their savings accounts and/or term deposits regardless of sex, gender, sexual orientation or marital status

Insurance:  Same Sex Partners to  be covered under the Group Medicare products of Tata AIG for sum insured of Rs. 15 lakhs, available at Rs. 1999* inclusive of GST,  exclusively for Axis Bank Customers

Personalization:  Can personalize their debit card by choosing a pride flag in accordance with their Sex, Gender or Sexuality by visiting www.axisbank.com/mydesign

Inclusive initiatives for Axis Bank employees are:

The Mediclaim policy:  Covers costs for gender affirmation surgeries including costs for psychiatric interventions

Therapy: Employees could also avail services of Axis Bank’s queer affirmative counsellors from time to time

Leave Policy: It has been upgraded to be more inclusive. Maternity leave has been expanded as leave for birthing parents to include transgender men and other genders. Paternity leave is called leave for partner of birthing parents to include couples of all sexes and genders. The adoption leave is equal for all employees

Dress Code Policy: Employees can choose to dress in accordance with their self-identified sex, gender or gender expression

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