NEW DELHI: SBI Lifestyles Insurance protection on Monday said it has signed bancassurance agreement with Yes Financial institution to present a comprehensive bouquet of existence insurance protection alternatives to the financial institution’s customers across the country.
As share of the partnership, SBI Lifestyles’s various differ of particular person and neighborhood insurance protection alternatives will most likely be supplied to the customers of Yes Financial institution thru the financial institution’s branches spread across 28 states and eight Union Territories in India.
SBI Lifestyles’s intensive product portfolio coupled with the financial institution’s digital capabilities and trendy presence will most likely be particular that straight forward accessibility of existence insurance protection to the customers.
The agreement used to be signed by Rajan Pental, World Head – Retail Banking, Yes Financial institution and AVS Sivaramakrishna, Regional Director-Mumbai region, SBI Lifestyles Insurance protection, within the presence of Mahesh Kumar Sharma, MD & CEO, SBI Lifestyles and Ravi Krishnamurthy, President-Zone 1, SBI Lifestyles, amongst others.
“With this partnership with Yes Financial institution, we aim to present financial security for customers and extra decrease the protection gap in India. We’re extremely happy to embark on this tear together and dwell up for the alliance for opening up current avenues of train,” Krishnamurthy said.
He said the existence insurer is relentlessly difficult in direction of strengthening its distribution channels by organising strategic associations with banks, corporate agents, brokers, insurance protection advertising firms and so forth and must continue to manufacture every effort in making insurance protection with out trouble accessible to all.
“This partnership is a mountainous opportunity for us to deepen our buyer connects, empowering them to stay awake to the trace while fulfilling their evolving insurance protection wants. The combined synergies of SBI Lifestyles’s modern product suite, change trip and Yes Financial institution’s sturdy buyer join, will immensely wait on the customers,” Pental said.