On Monday SBI Life Insurance has signed a bancassurance agreement with Yes Bank to offer comprehensive life insurance solutions to the Yes bank’s customers nationwide.
The agreement was signed by Rajan Pental, Global Head – Retail Banking, Yes Bank and AVS Sivaramakrishna, Regional Director-Mumbai region, SBI Life Insurance, in the presence of Mahesh Kumar Sharma, MD & CEO, SBI Life, and Ravi Krishnamurthy, President-Zone 1, SBI Life, among others.
Krishnamurthy said that “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.”
He also said that “the life insurer is relentlessly moving towards strengthening its 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.”
Pental said that “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.”