Tuesday, 6 October 2020

SBI Life Insurance and YES BANK announce Bancassurance

 SBI Life Insurance and YES BANK announce Bancassurance tie-up to make holistic insurance solutions accessible to the Bank’s customers


SBI Life Insurance, one of the most trusted private life insurers in the country and YES BANK, today signed a Bancassurance agreement to offer a comprehensive bouquet of life insurance solutions to the Bank’s customers across the country.


The agreement was signed by Mr. Rajan Pental, Global Head - Retail Banking, YES BANK and Mr. AVS Sivaramakrishna, Regional Director-Mumbai region, SBI Life Insurance, in the presence of Mr. Mahesh Kumar Sharma, MD & CEO, SBI Life, Mr. Sanjiv Roy, Business Head – Third Party Distribution, YES BANK, Mr. Abhijit Gulanikar, President - Business Strategy, SBI Life, Mr. Ravi Krishnamurthy, President-Zone 1, SBI Life and other respected dignitaries.


As part of the partnership, SBI Life’s diverse range of individual and group insurance solutions will be offered to the customers of YES BANK through the Bank’s branches spread across 28 states and 8 Union Territories in India. SBI Life’s extensive product portfolio coupled with the Bank’s digital capabilities and widespread presence will ensure easy accessibility of life insurance to the customers.


Commenting on the tie-up, Mr. Ravi Krishnamurthy, President Zone I, SBI Life Insurance said, “At SBI Life, we are constantly looking at developing eco-systems that enable us to amplify our reach and allow us to offer holistic insurance solutions to a wider populace across the country. With this partnership with YES BANK, we aim to provide financial security for consumers and further reduce the protection gap in India. We are extremely delighted to embark on this journey together and look forward to the alliance for opening up new avenues of growth. Mr. Krishnamurthy further added, “We have been relentlessly moving towards strengthening our distribution channels by establishing strategic associations with banks, corporate agents, brokers, insurance marketing firms etc and will continue to make every effort in making insurance easily accessible to all.”


Speaking on the occasion, Rajan Pental, Global Head – Retail Banking, YES BANK said, “YES BANK is pleased to partner SBI Life Insurance to provide life insurance solutions to our customers. This partnership is a great opportunity for us to deepen our customer connects, empowering them to stay in control 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 customers.”

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