Reported by: banking|Updated: August 31, 2017
Dhanlaxmi Bank has signed an agreement with DHFL Pramerica Life Insurance Company to distribute the latter’s insurance products through its branches in the country. G. Sreeram, MD and CEO of the bank, said the bank has consistently enhanced its portfolio to meet the diverse financial needs of its customers. He hoped the bank would get substantial income from the distribution of the products and this is going to be the focus area for the bank this year. He expects the bank to have an annual incremental income of Rs20-30 crore from this distribution business. The policies will be serviced through the bank. The front desk will act as a point of contact for service of existing customers as well as those who join fresh. Anoop Pabby, MD and CEO, DHFL Pramerica, said his company will work to increase penetration of life insurance by offering segmented products through digital and CRM capabilities as well as by making insurance more accessible.