Yerevan/Mediamax/. “HSBC Bank Armenia” and “Cascade Insurance” announced launch of strategic cooperation in the sphere of sales of insurance policies of “Cascade Insurance” as to all types of insurance to individuals.

Mediamax reports that at the joint news conference, which took place in Yerevan today, Chief Executive Officer of “HSBC Bank Armenia” Astrid Clifford noted that, starting from December 6, sales of “Cascade Insurance” policies will be launched in all branches of the bank by the following types of insurance: residential real estate insurance, car insurance (CASCO and CMTPLI), accident insurance, medical insurance, travel insurance and assistance.

According to Astrid Clifford, within the framework of cooperation, customers will get the chance to use bank and insurance services in one place at competitive tariffs.

“HSBC Bank Armenia” Manager for Individual Financial Services and Branches Arman Barseghyan noted that the bank carried out work on transforming branches from operational centers into customer service and sales centers.

According to the assessment of “Cascade Insurance” CEO Garnik Tonoyan, such close cooperation of the banking and insurance sectors will allow taking financial services to a new quality level. 

Touching upon the process of CMTPLI (Compulsory Motor Third Party Liability Insurance) policies’ sale, Garnik Tonoyan noted that as opposed to the initial stage, today the company observes “interesting dynamics”. As of today, they speak of a few thousands of sold CMTPLI policies, which are evenly spread in the capital and the marzes of the country.

Regional Director of HSBC Group for Insurance in European Countries Jean-Pierre Widener stressed that HSBC highly assesses business potential of Armenia and will continue investments in this market.