SBI Life Insurance has consented to a bancassurance agreement with Yes Bank to offer a comprehensive bundle of life insurance solutions for the bank’s clients across the nation. As a feature of the association of SBI Life and YES Bank, SBI Life’s differing range of individual and group insurance arrangements will be offered to the clients of Yes Bank through the bank’s offices spread across 28 states and 8 Union Territories in India.
SBI Life’s broad and extensive product portfolio combined with the bank’s digital advanced abilities and boundless, widespread presence will guarantee simple accessibility and availability of life insurance to the clients of the bank. The bancassurance agreement with YES Bank was marked and signed by Rajan Pental, Global Head(Retail Banking) of Yes Bank and AVS Sivaramakrishna, Regional Director-Mumbai area of SBI Life Insurance, with the presence of Mahesh Kumar Sharma, MD and CEO, SBI Life and Ravi Krishnamurthy, President-Zone 1, SBI Life
Ravi Krishnamurthy, President-Zone 1, SBI Life mentioned that with the partnership with YES Bank, the company intends to give monetary security to consumers and further lessen and reduce the protection gap in India. The company is enchanted to set out on this journey together and look forward to the alliance for opening up new avenues of development. Krishnamurthy further added that the life insurer is tenaciously moving towards reinforcing its distribution channels by building up a vital relationship with banks, corporate specialists, brokers or intermediaries, insurance marketing firms, and so on and will keep on continuing the steps to make every effort in making insurance easily and effectively open and accessible to all.
Rajan Pental, Global Head(Retail Banking) of Yes Bank mentioned a statement that the partnership is an incredible opportunity for YES Bank to develop their client associates, engaging them to remain in control while satisfying and fulfilling their evolving and advancing insurance needs. The consolidated cooperative synergies of SBI Life’s creative and innovative product suite, industry skill and expertise, and Yes Bank’s strong and solid client interface, will tremendously profit the clients.
