SBI Life inks pact with Yes Bank to sell insurance policies
As a part of the partnership, SBI Life’s diverse range of individual and insurance solutions are going to be offered to the purchasers of Yes Bank through the bank’s branches spread across 28 states and eight Union Territories in India.
SBI life assurance on Monday said it’s signed bancassurance agreement with Yes Bank to supply a comprehensive bouquet of life assurance solutions to the bank’s customers across the country.
As a part of the partnership, SBI Life’s diverse range of individual and insurance solutions are going to be offered to the purchasers of Yes Bank through the bank’s branches spread across 28 states and eight Union Territories in India.
SBI Life’s extensive product portfolio including the bank’s digital capabilities and widespread presence will ensure easy accessibility of life assurance to the purchasers .
The agreement was signed by Rajan Pental, Global Head – Retail Banking, Yes Bank and AVS Sivaramakrishna, Regional Director-Mumbai region, SBI life assurance , within the presence of Mahesh Kumar Sharma, MD & CEO, SBI Life and Ravi Krishnamurthy, President-Zone 1, SBI Life, among others.
“With this partnership with Yes Bank, we aim to supply financial security for consumers and further reduce the protection gap in India. We are extremely delighted to start this journey together and appearance forward to the alliance for opening up new avenues of growth,” Krishnamurthy said.
He said the life insurer is relentlessly moving towards strengthening its distribution channels by establishing strategic associations with banks, corporate agents, brokers, insurance marketing firms etc and can still make every effort in making insurance easily accessible to all or any .
“This partnership may be a great opportunity for us to deepen our customer connects, empowering them to remain on top of things while fulfilling their evolving insurance needs. The combined synergies of SBI Life’s innovative product suite, industry expertise and Yes Bank’s strong customer connect, will immensely benefit the purchasers ,” Pental said.
