News From Press Banks offer choice in insurance products

Banks offer choice in insurance products

Source: Mint May 24, 2017

DBS Bank India has announced an open architecture platform for life insurance sales. The bank will offer life insurance products from three different insurance companies. It was already partnering with Aviva Life Insurance Co. Ltd, and has now tied up with Tata AIA Life Insurance Co. Ltd and Birla Sun Life Insurance Co. Ltd. Traditionally, banks in India have offered products of just one insurance company, while they offer mutual funds from across the industry. After regulatory change were implemented in 2016, DBS Bank is now offering life insurance covers from three companies.

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1 Comment

Prashant · 6 years ago `

The customer did not buy a unsustainable product but babk sild him an unsuitable product. Banks should never be allowed to sell any third party ptoducts dince they are the biggest missellers in our country. You sgould visit one bank branch and listen to what they say or how they sell you the policy or any other investment. I do not understand even after establishing the fact that they are the biggest missellers( Raghuram Rajan himself tild this openly) why is RBI, IRDA and SEBI alloeing them to sell tbird party ptoducts and cheat the people of the country?

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