RBL Bank And ICICI Prudential Life Insurance Enter Into Bancassurance Partnership

FILE PHOTO: A man speaks on the phone outside an ICICI Bank branch in Kolkata, India, July 27, 2018. REUTERS/Rupak De Chowdhuri/File photo

RBL Bank and ICICI Prudential Life Insurance entered into a bancassurance partnership on Wednesday, December 9, to offer a slew of life insurance products to customers. This alliance will enable more than 8.7 million customers of RBL Bank to access and easily purchase the customer-centric protection and long-term savings products of the firm, in order to gain financial security for themselves and their families. RBL Bank will distribute ICICI Prudential Life Insurance’s protection and savings products through its 398 bank branches spread across 28 states, besides its internet and mobile banking touch-points.

Through the partnership, the entire bouquet of ICICI Prudential Life’s insurance plans on the protection and savings platform will be available for purchase to customers of the bank. ICICI Prudential Life Insurance’s protection products provide a strong foundation for a financial plan and the diversified range of long-term savings products are likely help the bank’s customers achieve financial goals, be it retirement planning, wealth creation, higher education of children etc. Simultaneously, the tie-up will also provide a financial safety net to the customer’s family by way of a life insurance cover.

”As a bank, we are constantly focused on serving the evolving needs of our customers and ensuring that they have a holistic service experience. This collaboration empowers our customers to choose from a comprehensive suite of products and plan for a financially secure future. With our strong distribution reach and digital platforms, we will be able to offer these products instantly to all our customer segments across India,” said Vishwavir Ahuja, MD and CEO, RBL Bank.

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