In order to increase its scale of services, India Post has entered into an agreement with the life insurance arm of ICICI Bank, ICICI Prudential to collect insurance premium through the Post Offices.

The service has been provided to the customers without any additional cost. The premium amounted collected by the post offices will be transferred to ICICI Prudential through e-payment system of India Post.

Presently the service is available at more than 200 post offices in Gujarat, Punjab, Andhra Pradesh, Kerala and Maharashtra Postal Circles. This will facilitate the customers to make their insurance premium at their nearby post offices.

This tie up is likely to bring the customers closer to Post Office and also make it one stop shop for the society.

In October, India Post had launched the sale of 24 carat gold coins at 102 post offices in Delhi, Maharashtra, Gujarat and Tamil Nadu. The sale was further been carried to Punjab, Andhra Pradesh, Karnataka, Madhya Pradesh, West Bengal and Rajasthan. The department had been extending the service to other states as well.

Recently it was taken to post offices in Kerala and soon it is going to start in Uttar Pradesh and Postal Circles of Haryana.

The tie up with ICICI Prudential is also expected to prove beneficial for India Post as insurance is one of the fastest growing industries with a high potential in terms of services.