Bandhan Life Partners with Bandhan Bank to Revolutionize Insurance Distribution

Bandhan Life Insurance has announced a strategic partnership with Bandhan Bank to distribute life insurance products. Initially focusing on Bandhan Bank's 1,700 branches, the company plans to partner with more banks and develop offline distribution channels. The initiative aims to generate Rs 300 crore in new premium business in its first year.

Bandhan Life Insurance has entered into a strategic partnership with Bandhan Bank, aimed at distributing life insurance products through the bank's extensive network of 1,700 branches.

The company revealed plans to bring additional banks on board to fortify its bancassurance distribution channel. According to MD & CEO Satishwar B, the initial focus will be on leveraging Bandhan Bank while exploring other multi-channel distribution strategies in the future.

Starting with approximately 550 bank branches, Bandhan Life will offer two new life insurance products specifically tailored for Bandhan Bank customers, with plans to extend this distribution to all 1,700 branches by the year's end. In its first operating year, the company aims to generate Rs 300 crore in new premium business.

(With inputs from agencies.)