RBL Bank and ICICI Prudential Life Insurance entered into a bancassurance partnership on Wednesday, December 9, to offer a slew of life insurance products to customers. This alliance will enable more than 8.7 million customers of RBL Bank to access and easily purchase the customer-centric protection and long-term savings products of the firm, in order to gain financial security for themselves and their families. RBL Bank will distribute ICICI Prudential Life Insurance's protection and savings products through its 398 bank branches spread across 28 states, besides its internet and mobile banking touch-points.
Through the partnership, the entire bouquet of ICICI Prudential Life's insurance plans on the protection and savings platform will be available for purchase to customers of the bank. ICICI Prudential Life Insurance's protection products provide a strong foundation for a financial plan and the diversified range of long-term savings products are likely help the bank's customers achieve financial goals, be it retirement planning, wealth creation, higher education of children etc. Simultaneously, the tie-up will also provide a financial safety net to the customer's family by way of a life insurance cover.
'As a bank, we are constantly focused on serving the evolving needs of our customers and ensuring that they have a holistic service experience. This collaboration empowers our customers to choose from a comprehensive suite of products and plan for a financially secure future. With our strong distribution reach and digital platforms, we will be able to offer these products instantly to all our customer segments across India,' said Vishwavir Ahuja, MD and CEO, RBL Bank.
'Besides the common philosophy of customer-centricity, both partners have been leveraging technology to provide customers a seamless digital fulfilment journey and superior customer experience. There is a growing awareness among consumers about protection and the need to financially secure self and family following the pandemic,' said N S Kannan, Managing Director & CEO, ICICI Prudential Life Insurance.
'We believe our array of protection and long-term savings products will complement RBL Bank's offerings and enable their customers to develop a robust financial plan,' he added.
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