Private sector general insurer ICICI Lombard General Insurance Company Ltd has inked a bancassurance deal with private lender Yes Bank for selling its insurance products.
“The partnership will be offering the bank’s diverse customer base access to the insurer’s portfolio and make insurance more accessible to its customers across India,” ICICI Lombard General Insurance Company said in a regulatory filing.
As per records, Bancassurance is deal which is inked between a lender and an insurer in a bid to sell its offerings to the bank’s customers. As a part of this alliance, ICICI Lombard is aiming at offering innovative insurance solutions to Yes Bank’s customers around 28 states and 8 union territories.
Sanjeev Mantri, Executive Director, ICICI Lombard said, “Given the progressive and technology-oriented approach of both partners, this collaboration is an ideal synergy between the two brands and value adding to Yes Bank customers”.