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AU Small Finance Bank ties up with ICICI Prudential Life to offer life insurance solutions

Through the corporate agency arrangement, over 18 lakh customers of AU Bank across over 700 banking touchpoints in 13 states and 2 Union territories, will have an easy access to the entire suite of customer-centric protection and long-term savings products of ICICI Prudential Life.

December 28, 2020 / 10:28 PM IST
AU Small Finance Bank. (PC- Facebook)

AU Small Finance Bank. (PC- Facebook)

AU Small Finance Bank (AU Bank) on December 28 announced its partnership with country's leading private life insurance company ICICI Prudential Life Insurance to offer need and goal-based life insurance solutions.

Through the corporate agency arrangement, over 18 lakh customers of AU Bank across over 700 banking touchpoints in 13 states and 2 Union territories, will have an easy access to the entire suite of customer-centric protection and long-term savings products of ICICI Prudential Life. AU Bank even claimed that these products will enable customers to provide financial security to themselves and their families and help them achieve their financial goals

ICICI Prudential's assets under management cross Rs 2 lakh crore

"AU Bank has always worked with the core Dharma of ‘customer centricity’. Expanding our bouquet of financial services and customer value proposition, we wanted to associate with an additional life insurance partner to add value to our existing range of products & services while helping our customers to plan for better financial security. We hereby welcome ICICI Prudential Life Insurance as our valued insurance partner who we believe has the ability and experience to understand customers’ needs and offer them customized need-based solutions and provide seamless services," AU Small Finance Bank's Executive Director Uttam Tibrewal said.

Stating that small finance banks play a pivotal role in enhancing financial inclusion and penetration of life insurance, ICICI Prudential Life Insurance Chief Distribution Officer Amit Palta mentioned that partnership will AU Bank will enable ICICI Prudential to further strengthen multi-channel distribution network in the semi-urban and rural geographies of the country.

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"We are delighted to partner with AU Small Finance Bank, one of the most trusted small finance banks in the country. The integration of digital platforms will ensure a smooth, quick, and virtually paperless on-boarding experience to customers. We believe, this mutually beneficial partnership will enable AU Small Finance Bank to offer a well-rounded bouquet of financial savings and risk mitigation solutions to their customers," Palta said.

With customers based in Rajasthan, Madhya Pradesh, Gujarat, Maharashtra, Punjab, Haryana, Chhattisgarh, Delhi NCR, Himachal Pradesh, Uttar Pradesh, Karnataka, Goa, West Bengal and the Union Territories of Chandigarh and J&K, AU Bank is looking forward to provide financial security to their families by building a well-rounded financial plan.

Earlier, ICICI Prudential Life Insurance Company said on December 11 that its assets under management (AUM) have crossed Rs 2 lakh crore as it entered its 20th year. As of September 2020, its total sum assured stood at Rs 18.06 lakh crore.
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