Personal sector common insurer ICICI Lombard Basic Insurance coverage Firm Ltd on Monday mentioned it has entered right into a bancassurance tie-up with Sure Financial institution for promoting its insurance coverage merchandise.
“The partnership will present the financial institution’s various buyer base entry to the insurer’s portfolio and make insurance coverage extra accessible to its clients throughout India,” ICICI Lombard Basic Insurance coverage Firm mentioned in a regulatory submitting.
Bancassurance is an settlement between a financial institution and an insurer to promote its choices to the lender’s clients. By means of this tie-up, ICICI Lombard goals to supply modern insurance coverage options to Sure Financial institution’s clients throughout 28 states and eight union territories.
Sanjeev Mantri, Govt Director, ICICI Lombard mentioned, “Given the progressive and technology-oriented method of each companions, this collaboration is a perfect synergy between the 2 manufacturers and worth including to Sure Financial institution clients”.