HDFC Life and NKGSB Co-operative Bank have entered into a corporate tie-up enabling NKGSB Co-operative Bank’s customers to avail life insurance products of HDFC Life, the companies said in a joint statement.
Keeping pace with changing times and changing customer habits, the bank offers digital banking solutions such as mobile banking, internet banking and SMS banking to its customer base, the statement added.
Speaking about the association, Sunil Panse, MD, NKGSB Co-operative Bank said in the statement, “NKGSB Co-operative Bank with a banking legacy of 106 years is delighted to enter into strategic and momentous alliance with HDFC Life Insurance company to provide life insurance solutions that cater to various needs of individuals – protection, pension, savings, investment and annuity. This alliance reflects our bank’s commitment in ensuring the well-being and financial security of its valued customers.”
Such tie-ups are good for the consumers, as access to life insurance products improve. This distribution creates an opportunity to penetrate the underserviced segments. NGKSB customers will be able to avail a bouquet of traditional, term, pensions and annuity products of HDFC Life, the statement mentioned.
Speaking on the launch, Suresh Badami, Deputy MD, HDFC Life, also said in the statement, “We are delighted to announce our partnership with NKGSB. Given their rich legacy and loyal customer base, we hope to leverage our bancassurance expertise and strong product proposition and work closely together towards achieving India’s vision of ‘Insurance for All’ by 2047.”
