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RBL Bank, ICICI Prudential Life Insurance announce bancassurance partnership

RBL bank aims to enable its over 8.7 million customers to access and seamlessly purchase customer-centric protection and long-term savings products of ICICI Prudential Life Insurance

December 09, 2020 / 03:44 PM IST
RBL Bank will distribute ICICI Prudential Life’s products through its network of 398 branches spread across 28 states. (Image: PTI)

RBL Bank will distribute ICICI Prudential Life’s products through its network of 398 branches spread across 28 states. (Image: PTI)

 
 
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RBL Bank has partnered ICICI Prudential Life Insurance to offer an array of life insurance products to its customers, the companies said in a joint statement on December 9.

The alliance will enable over 8.7 million customers of RBL Bank to access and seamlessly purchase customer-centric protection and long-term savings products of ICICI Prudential Life Insurance.

RBL Bank opens another branch in Delhi

Under the tie-up, RBL Bank will distribute ICICI Prudential Life’s products through its network of 398 branches spread across 28 states, apart from its internet and mobile banking touch-points.

The bank customers will also be able to purchase the entire bouquet of ICICI Prudential Life’s insurance plans on the protection and savings platform. The bank expects that this tie-up will help the customers achieve their financial goals including wealth creation, retirement planning, and higher education of children.

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"We are happy to partner with ICICI Prudential Life and are confident that this strategic alliance will accelerate value creation for both our organisations. As a bank, we are constantly focused on serving the evolving needs of our customers and ensuring that they have a holistic service experience. This collaboration empowers our customers to choose from a comprehensive suite of products and plan for a financially secure future. With our strong distribution reach and digital platforms, we will be able to offer these products instantly to all our customer segments across India," RBL Bank CEO and MD Vishwavir Ahuja said.

The tie up will further deepen our multi-channel distribution footprint in the country, said ICICI Prudential Life Insurance MD and CEO NS Kannan.

"There is a growing awareness among consumers about protection and the need to financially secure self and family following the (COVID-19) pandemic. We believe our array of protection and long-term savings products will complement RBL Bank’s offerings and enable their customers to develop a robust financial plan," he added.
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