Bandhan Life partners with Bandhan bank to boost insurance business
In a bid to focus on new business after acquiring Aegon Life early this year and undergoing a renaming exercise, Bandhan Life Insurance on Thursday announced a strategic partnership with Bandhan Bank to distribute life insurance products through its extensive network of 1,700 branches. Bandhan Life stated it has plans to rope in more banks on board in the near future to strengthen its bancassurance distribution channel. "Initially, we are focusing on Bandhan Bank to distribute our insurance products as we shift our focus to new business. We aim to partner with 2-3 more banks and explore other multi-channel distribution strategies in due course," Bandhan Life MD & CEO Satishwar B said. He added that while Aegon Life's legacy business was primarily acquired online, Bandhan Life will focus on building offline distribution channels to drive growth. Initially, around 550 bank branches will distribute two new life insurance products tailored for Bandhan Bank customers, the company has ..
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