Private sector life insurer Max Life Insurance on Monday said Yes Bank Ltd. has extended the bancassurance partnership for next 5 years.
Under the partnership, the products of the life insurer would be sold through the branches of Yes Bank.
Building on the 15-year partnership, the two firms will continue to offer their customers need-based products and services, deploying technology across the customer value chain to enhance efficiencies, the insurer said in a statement.
To commemorate the extension of the partnership for another 5 years, the companies will dedicate the current financial year as the Year of the Customer', Max Life CEO Prashant Tripathy said.
"In the coming 5 years, we plan to further enhance our business and make investments in the area of technology, new product development, and customer service to ensure we journey together to help our customers realise their real value and financially protect their future," he added.
The two began their exclusive partnership in February 2005 to sell insurance products to bank customers. The tie-up has expanded over the years across several new banking verticals including business and rural banking services.
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