SBI General Insurance inks bancassurance deal with Indian Overseas Bank

SBI General Insurance inks bancassurance deal with Indian Overseas Bank

SBI General Insurance and Indian Overseas Bank have inked a bancassurance agreement in a bit to ensure distribution of non-life offerings.

“Through the alliance, SBI General will offer a range of general insurance solutions and innovative products to IOB customers,” said the official statement on Monday.

“IOB’s extensive reach in Tamil Nadu region will help in wide distribution of products to customers in the region…The partnership will improve penetration in urban, Tier II, and Tier III markets and will also help create awareness about personal lines of insurance,” said PC Kandpal, Managing Director and CEO, SBI General Insurance.

Also Read: Bank of Maharashtra, Vayana Network partner to offer Channel Financing service for MSMEs

IOB is headquartered in Chennai with more 3,200 branches across the country.

“This tie-up will help expand our bouquet of Insurance product to our consumers,” said Partha Pratim Sengupta, Managing Director and CEO, Indian Overseas Bank.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.