Canara HSBC Life Insurance Company Limited (Canara HSBC Life Insurance) announced a strategic relationship with Himachal Pradesh Gramin Bank (HPGB) to provide a variety of life insurance products through HPGB’s wide branch network throughout the state. The agreement is a significant milestone because it brings the Company’s insurance solutions to HPGB consumers. HPGB is the Company’s sixth Regional Rural Bank (RRB) to join its distribution network.
The strategic alliance will enable the Bank’s customers to select from a wide selection of life insurance options suited to their specific needs and preferences from Canara HSBC Life Insurance. Canara HSBC Life Insurance would be able to reach over 13.5 lakh HPGB customers because to the bank’s strong presence of 274 branches in the state.
With this new partnership, Canara HSBC Life Insurance is ready to expand its distribution reach in the state and reach out to HPGB clients across the state’s numerous districts. It is also looking towards further distribution partnerships within Himachal Pradesh.
Rishi Mathur, Chief Distribution Officer – Alternate Channels and Chief Strategy Officer, Canara HSBC Life Insurance, commented, “We are excited to partner with Himachal Pradesh Gramin Bank, a trusted name in the banking sector and has a tradition of serving customers across urban and rural areas in Himachal Pradesh. This partnership will allow us to extend our insurance solutions to a larger customer base, aligned to our mission to protect our customers’ dreams and aspirations. Insurance awareness is on the rise and this distribution tie up will empower the company’s strategy to bridge the insurance gap at multiple levels across very part of Himachal Pradesh”.
Rajendra Singh, Chairman, Himachal Pradesh Gramin Bank, shared his thoughts on the partnership, stating, “We are committed to providing our customers with the best financial products and services. Our collaboration with Canara HSBC Life Insurance will enable us to offer comprehensive life insurance solutions to our valued customers, enhancing their financial security.”
Canara HSBC Life Insurance and Himachal Pradesh Gramin Bank have joined forces to provide vital financial security as well as longer-term investment and saving opportunities to individuals and families across Himachal Pradesh.