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Syndicate Bank , a public sector bank, and SBI Life Insurance have now strengthened their bancassurance tie-up by signing a pact for long term association.
It may be recalled that both the entities in January this year had entered into a bancassurance pact to make insurance easily accessible to customers across 4,000 branches of Syndicate Bank in India.
The move to go in for a long term association comes on the back of an overwhelming response from customers across Syndicate Bank branches, who have embraced SBI Life’s offerings in a big way.
The arrangement for long term association was made through an agreement signed in the presence of Syndicate Bank’s Managing Director and CEO Mrutyunjay Mahapatra and SBI Life’s MD and CEO Sanjeev Nautiyal.
Sanjeev Nautiyal, MD & CEO, SBI Life Insurance said that the life insurer will continue to strengthen its growing bancassurance channel to make insurance accessible for all.
Mrutyunjay Mahapatra, MD and CEO, Syndicate Bank said, “Our partnership with SBI Life is testament to this belief system. With our technology driven banking experience married with investment and protection solutions from SBI Life, our commitment towards customers gets delivered in toto.”
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