Bharti AXA Life Insurance coverage has entered into bancassurance partnership with SBM Bank India for distribution of life insurance coverage merchandise by way of the latter’s community.
Beneath this settlement, Bharti AXA Life Insurance coverage will provide its complete suite of life insurance coverage merchandise, together with safety, well being, financial savings and funding plans, to the shoppers of SBM Personal Wealth, the retail banking arm of SBM Bank India.
Commenting on the strategic alliance, Bharti AXA Life Insurance coverage Managing Director and CEO Parag Raja stated, “We are confident that this alliance shall empower the bank’s customers with protection and holistic financial planning solutions from our product portfolio and further boost our bancassurance channel as a key distribution and growth opportunity.”
SBM Bank India, one of many youngest new age banks within the nation, has presence in six cities and serves its prospects by way of direct and collaborative networks. The collaboration would provide completely different life insurance coverage merchandise to SBM Bank’s prospects in Mumbai, New Delhi, Chennai, Bengaluru, Hyderabad and Ramachandrapuram.
“We believe in offering a personalised, safe, reliable and holistic banking experience to our customers, including clients at SBM Private Wealth. This entails catering to the needs of our customers beyond traditional banking that includes investments and insurance. In doing so, we always believe in collaborating with the leading solutions providers,” stated Neeraj Sinha, Head – Retail & Shopper Banking, SBM Bank India.
Final yr, Bharti AXA Life Insurance coverage tied up with Karnataka Bank as its first main bancassurance partnership to distribute its numerous insurance coverage options.