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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