HDFC Life will be offering its individual life insurance and pension covers to the bank’s customers
Pune, 15th May, 2017: HDFC Life, one of India’s leading private life insurance companies, today announced its bancassurance tie-up with Catholic Syrian Bank, one of India’s oldest private sector banks, to distribute HDFC Life’s individual life insurance products to their customers.
With this partnership, HDFC Life will offer its leading range of individual life insurance, health and pension products to the Catholic Syrian Bank’s 1.5 million customer base, across all its branches, over a period of time.
Mr. Amitabh Chaudhry, MD & CEO, HDFC Life, said, “We are proud to announce our partnership with Catholic Syrian Bank, our first bank partnership in Kerala. In keeping with our endeavour to increase our reach and access customers across geographies, this partnership would enable us to offer our products to over 1.5 million customers of Catholic Syrian Bank across Kerala and other states. Our proven track record in bancassurance coupled with the ability to handle multiple partners and strong technology driven processes will help in creating a formidable long term relationship.”
Mr. CVR Rajendran, MD & CEO, Catholic Syrian Bank, said: “India is largely an underinsured nation. As a bank, we are uniquely positioned to offer multiple insurance solutions to our customers to ensure that they can exercise their choice and select an insurance policy that suits their need. In this regard, we are delighted to partner with HDFC Life – a company which brings a suite of acclaimed products offering more choice and the use of technology to ensure quicker and faster issuance of policies to our end customer. We look forward to making the most of this partnership.”
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