Standard Chartered Bank will distribute ICICI Prudential Life’s insurance products through its network of 99 branches across 42 cities.
Standard
Chartered Bank announced that it has entered into a bancassurance partnership
with ICICI Prudential Life Insurance.
This
is part of a larger agreement between Standard Chartered Plc and Prudential Plc
to expand the term and geographic scope of their pan-Asian bancassurance
partnership.
The new 15-year agreement covers India and 10 other
markets and has commenced on 1 July 2014, deepens a relationship that was first
established in 1998, said a press release issued by the bank.
Speaking on the occasion, Sunil Kaushal, Regional
Chief Executive, India & South Asia at Standard Chartered Bank said, “Our
endeavour has always been to enhance our product and service offerings to our
customers to ensure that we cater to their changing needs in a dynamic
environment. The alliance with ICICI Prudential Life is a reaffirmation of our
commitment to our customers and it enables us to offer them best-in-class life
insurance products for their various needs. We are confident about leveraging
the inherent synergies of this association and firmly believe that it will
represent better value-added services to our customers.”
Standard Chartered Bank will distribute ICICI Prudential Life’s insurance products through its network of 99 branches across 42 cities.
Commenting on the tie-up, Sandeep Bakhshi, Managing Director & CEO, ICICI Prudential Life said, “We are happy to partner with Standard Chartered Bank. They are globally considered as the largest emerging markets bank and have a strong presence in India. Their customer centric approach is very much in sync with our company's customer first philosophy. Going forward we aim to continue offering superior quality products and services by leveraging the best of both partners.”
This alliance between ICICI Prudential Life and
Standard Chartered Bank aims to bring together a common vision of offering
world class life insurance products to a wider mass of customers through
Standard Chartered’s extensive branch network as well as to utilise
state-of-the-art technological innovations and online channels to provide a
convenient and hassle free experience to customers, said the release.