SBI Life Insurance 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.
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.
Ravi Krishnamurthy, President Zone I, SBI Life Insurance commented on the tie-up, “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.
He 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, “This partnership is a great opportunity for us to deepen our customer connections, 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.”