Mumbai, 14th September 2020: SBI General, one of India’s leading General Insurance Companies and, YES BANK, a leading private sector bank, signed a Corporate Agency Agreement for the distribution of retail products of SBI General Insurance Company for its corporate and retail customers. The products of SBI General Insurance Company will be offered to YES BANK’s customers across 28 states and 8 Union Territories.
SBI General has been doing meaningful associations with banks, payments apps, eCommerce players, brokers, etc. to strengthen its distribution footprint across the country. This partnership will be committed to offering customers a broad range of non-life insurance products and services and deploying technology across the customer value chain to facilitate superior experiences for them.
Commenting on the tie-up, Amar Joshi, Chief Business Officer, SBI General Insurance, said, “Our alliance with YES BANK is an important milestone and allows us to collaborate and expand our reach by offering our insurance products to a wider audience through the bank’s branches and digital network presence Pan India. We are excited and thrilled to partner with YES BANK, that enjoys a remarkable journey in serving customers over a long time. The tie-up will help us reach out to the last mile and serve untapped markets, thereby increasing insurance penetration.”
Speaking of the occasion, Rajan Pental, Global Head – Retail Banking, YES BANK, said, “YES BANK is delighted to embark on this journey with SBI General Insurance, and we look forward to collaborating closely to fulfil the evolving insurance needs of our growing customer base. We believe that YES BANK’s unique branch and digital banking capabilities, coupled with SBI General’s brand strength and innovative product suite will enrich our customers’ value proposition.”
The signed agreement was exchanged between the organization by Mr. Rajan Pental, Global Head – Retail Banking, YES BANK & Mr. Amar Joshi, Chief Business Officer, SBI General Insurance.