AU Small Finance Bank has signed a partnership with ICICI Prudential Life Insurance to offer goal-based life insurance solutions.
AU Bank said the tie-up will further enrich its life insurance offering with an agile, accelerated, digital, and paperless platform offered by ICICI Prudential Life.
Through this corporate agency arrangement, over 18 lakh customers of AU Bank across over 700 banking touchpoints in 13 states and two union territories will have access to the entire suite of customer-centric protection and long-term savings products of ICICI Prudential Life.
“Expanding our bouquet of financial services and customer value proposition, we wanted to associate with an additional life insurance partner to add value to our existing range of products and services while helping our customers to plan for better financial security,” said Uttam Tibrewal, Executive Director of AU Bank.
Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance, said small finance banks play a pivotal role in enhancing financial inclusion and penetration of life insurance.
“This mutually beneficial partnership will enable us to further strengthen our multi-channel distribution network in the semi-urban and rural geographies of the country,” he said.