DBS Bank India has aligned with Royal Sundaram Alliance Insurance Co for distributing general insurance policies to the customers of the bank. Under a MoU between the two entities, DBS will introduce the products of Royal Sundaram in all its branches. Rahul Johri, MD & head of Consumer Banking, DBS India, said this partnership with Royal Sundaram Alliance Insurance Company is an important milestone for the bank, as bancassurance is a significant part of its growth strategy. Ajay Bimbhet, MD, Royal Sundaram Alliance Insurance, said about 13-15% of Royal Sundaram’s total business comes through bancassurance channel and the company expects to leverage customer mix constituted by the high-net worth customers and corporate clients of DBS Bank to grow this channel further. Through the partnership, the insurer hopes to offer customized suite of high-end retail products and exhaustive commercial products and risk management knowledge to its commercial clients.
