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HDFC Life Insurance Company on Monday announced a bancassurance tie-up with South Indian Bank (SIB).
This bancassurance arrangement will enable customers of SIB to avail HDFC Life’s life insurance products, including solutions for protection, savings and investment, retirement and critical illness.
Suresh Badami, Executive Director, HDFC Life, in a statement, said “India as a country is largely under insured. The pandemic has further stressed on the need for financial security. Thus, life insurance has become a critical product for every individual looking for solutions around protection, morbidity and savings. It is our endeavor to reach out to a larger section of the population with our products.”
HDFC Life aims to provide SIB’s customer base with innovative products and superior levels of service via both the physical and digital routes, he added.
Murali Ramakrishnan, Managing Director & CEO of SIB, said: “With insurance getting paramount importance especially during the pandemic, South Indian Bank’s strong customer connect and HDFC Life’s product suite, will ensure the customer is getting the best-in-class insurance solutions on offer.”
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