NEW DELHI: SBI Life Insurance coverage on Monday stated it has signed bancassurance settlement with Sure Bank to supply a complete bouquet of life insurance coverage options to the bank’s clients throughout the nation.
As a part of the partnership, SBI Life’s numerous vary of particular person and group insurance coverage options shall be supplied to the purchasers of Sure Bank by means of the bank’s branches unfold throughout 28 states and eight Union Territories in India.
SBI Life’s intensive product portfolio coupled with the bank’s digital capabilities and widespread presence will guarantee simple accessibility of life insurance coverage to the purchasers.
The settlement was signed by Rajan Pental, International Head – Retail Banking, Sure Bank and AVS Sivaramakrishna, Regional Director-Mumbai area, SBI Life Insurance coverage, within the presence of Mahesh Kumar Sharma, MD & CEO, SBI Life and Ravi Krishnamurthy, President-Zone 1, SBI Life, amongst others.
“With this partnership with Sure Bank, we goal to supply monetary safety for customers and additional cut back the safety hole in India. We’re extraordinarily delighted to embark on this journey collectively and look ahead to the alliance for opening up new avenues of development,” Krishnamurthy stated.
He stated the life insurer is relentlessly shifting in the direction of strengthening its distribution channels by establishing strategic associations with banks, company brokers, brokers, insurance coverage advertising and marketing corporations and many others and can proceed to make each effort in making insurance coverage simply accessible to all.
“This partnership is a superb alternative for us to deepen our buyer connects, empowering them to remain in management whereas fulfilling their evolving insurance coverage wants. The mixed synergies of SBI Life’s progressive product suite, trade experience and Sure Bank’s sturdy buyer join, will immensely profit the purchasers,” Pental stated.