HDFC ERGO enters into bancassurance tie-up with SVC Bank

HDFC ERGO General Insurance Company and Shamrao Vithal Co-operative (SVC) Bank today announced their bancassurance agency partnership to provide range of non-life insurance offerings to the customers of the bank.

The partnership combines HDFC ERGO's experience in introducing innovative non-life insurance products with SVC Bank's customer base across various states.

SVC Bank has 194 branches in 10 states including Maharashtra, Karnataka, Tamil Nadu, Andhra Pradesh, Gujarat, Goa, Delhi, Madhya Pradesh, Rajasthan, and Haryana.

"The alliance is an important milestone for us as bancassurance is an important part of our growth strategy. It is our endeavor to continuously innovate and make our products more widely available to consumers from all sections of the society," HDFC ERGO managing director and chief executive Ritesh Kumar said.