Mumbai : Exide Life Insurance, an established and profitable Life Insurance Company, has announced SVC Co-operative Bank as their banc assurance partner. Under this arrangement, Exide Life Insurance will get access to 193 SVC bank branches that currently cater to over 8 lakh customers.
Exide Life Insurance comes with years of experience in managing Banc assurance partners especially in the Co-operative Bank segment. Through this association, SVC bank will be able to leverage on product innovation, technology and best in class training offered by Exide Life Insurance.
Mr. Suhas. N. Sahakari, Managing Director, SVC Co-operative Bank Ltd. said, “Life Insurance is seen both as coverage and an investment tool. While it is important to look at returns on investments made, life insurance needs to be seen primarily as life cover, while there are variants where returns can be generated in addition to the life cover, which could be in the form of ULIPS. In this regard, our tie up with Exide Life Insurance will add to our existing repertoire and provide more life insurance product options for our customers to choose from. Thus, making us add value to the banking experience by serving as a one stop shop for all Banking and Insurance related needs. We look forward to a long and mutually beneficial association with Exide Life Insurance.”
Announcing the partnership, Mr. Kshitij Jain, MD & CEO, Exide Life Insurance said, “I am pleased to announce our partnership with SVC Co- operative Bank, one of the oldest and most recognized names in the Co-operative Bank space with a proven track record of serving generations of customers by offering best in class products and services. The bank’s philosophy resonates very well with the long term nature of our business and our belief that long term relationships build trust. Exide Life Insurance looks forward to working with SVC bank where we will be able to capitalize on the trust the bank enjoys with its customers.”