The Business Bytes
TBB BUREAU
CHENNAI, APR 3, 2023
SBI Life Insurance, one of the most trusted private life insurers in the country, has entered a corporate agency tie-up with Karur Vysya Bank (KVB) to market its insurance schemes through KVB branches in India.
KVB is a major player in the South with strong presence in urban, semi-urban and rural locations.
With more than 799 Karur Vysya Bank branches across the country, the corporate agency tie-up will offer insurance solutions to the bank customers. Through this tie-up SBI Life aims to address customers’ rising need for protection, savings, pension, credit life and health solutions among others through its diverse range of insurance solutions, thereby ensuring greater reach and penetration.
This collaboration will not only provide financial protection to Karur Vysya Bank’s customers, but also allow them to leverage SBI Life’s value-added services which are digitally enhanced for customers’ convenience.
Speaking about the partnership, SBI Life Insurance MD & CEO Mahesh Kumar Sharma said, “We look forward to strengthening the financial immunity of Karur Vysya Bank’s customers with our value-packed life insurance solutions and tech-enabled services. We are confident that the partnership will further enable us to expand the insurance market across the bank’s presence in the country.”
Commenting on the arrangement, Karur Vysya Bank MD & CEO B Ramesh Babu said, “In an attempt to offer a wider choice to its customers in the life insurance sphere, KVB has today inked an agreement with SBI Life Insurance. I am sure that together both of us will be able to provide not just choice but quality options to the customers in the days to come.”
