PNB MetLife India Insurance Company Limited (PNB MetLife) has entered a partnership with Saraswat Co-Operative Bank Ltd., the largest Urban Co-operative Bank in India. The collaboration will bring life insurance products, such as savings, protection, retirement, and group plans, to Saraswat Bank’s 30 lakh customers across 302 branches nationwide.
Sameer Bansal, Managing Director & CEO of PNB MetLife, noted the gap in insurance coverage in India. He stated the need for wider distribution channels to address this issue, adding that the partnership with Saraswat Bank aligns with their mission to offer life insurance to a larger audience. “By leveraging Saraswat Bank’s trusted legacy and our insurance expertise, we aim to deliver solutions that address customers’ financial needs across various life stages while also providing them with much-needed financial protection,” he said.
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Arti Patil, Managing Director & CEO of Saraswat Co-Operative Bank Ltd., stated that this partnership is part of the bank’s efforts to enhance its offerings, adding that it is important to give customers access to reliable life insurance solutions. Patil described the collaboration as a step towards addressing customers’ financial needs comprehensively.
The partnership aims to combine PNB MetLife’s expertise in insurance with Saraswat Bank’s established trust among its customers. Together, they seek to reduce the protection gap, expand insurance penetration, and support financial inclusion, especially in underserved communities.
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