MADISON, N.J., Feb. 20 /PRNewswire-FirstCall/ -- Quest Diagnostics Incorporated (NYSE:DGX), the leading provider of diagnostic testing, information and services, today announced that its wholly-owned subsidiary Quest Diagnostics India Pvt. Ltd. has entered into a long-term agreement to provide health assessment services, including diagnostic laboratory testing, for Birla Sun Life Insurance Company Limited (Birla Sun Life), a joint venture between The Aditya Birla Group, one of the largest business houses in India, and Sun Life Financial Inc., a leading international financial services organization.
Under terms of the agreement, Quest Diagnostics will generally have the exclusive right to provide full-service medical screening and diagnostic testing of life insurance candidates, and related administrative services for Birla Sun Life's individual life-insurance underwriting business. Birla Sun Life is a leading insurance carrier in India's burgeoning life-insurance premium market, which is predicted to more than double to $100 billion by 2012.
"Birla Sun Life Insurance has, once again, opened a new chapter in the history of Life Insurance in India, whereby we envision setting new levels of service, new standards in underwriting and improving quality of underwriting and risks involved," said Vikram Mehmi, President & CEO, Birla Sun Life Insurance. "Quality and standardization of medical reports and effective handling of underwriting and operations are the benefits to be reaped by this initiative. Birla Sun Life Insurance is happy to associate with Quest Diagnostics, which works with Sun Life Financial in some countries, and is an established name world-wide in providing diagnostic services."
Demand for insurance products
|SOURCE Quest Diagnostics Incorporated|
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