SVC Co-operative Bank has formed a bancassurance partnership with SBI General Insurance. The agreement will enable the bank’s customers to access the comprehensive suite of best-in-class general insurance products from SBI General Insurance at any of its 198 branches.
Durgesh Chandavarkar, Chairman, SVC Bank, said, “At SVC Bank, we are consistently working towards offering comprehensive products and solutions catering to the diverse needs of our customers. Insurance penetration in India continues to be low and real financial empowerment would need efficient access to affordable insurance products. We are increasingly expanding our collaborations to cater to the holistic financial well-being of our customers. Our collaboration with SBI General Insurance is yet another step in the same direction.”
Anand Pejawar, Whole-time Director, SBI General Insurance, said, “SVC Bank is among the leading co-operative banks in the country with a demonstrated presence of over 116 years. The bank caters to customers across 11 states and will significantly boost our product penetration in the key markets of growth. This tie-up will help in enhancing the value proposition for the bank’s customers while allowing them to opt for insurance products to safeguard themselves from unforeseen events and risks.”