Capital Small Finance Bank and Edelweiss Life Partner for Bancassurance
Capital Small Finance Bank (CSFB) and Edelweiss Life Insurance have joined forces in a bancassurance tie-up. This strategic partnership allows CSFB’s 177 branches to offer Edelweiss Life’s insurance products, enhancing CSFB’s financial solutions and expanding Edelweiss Life’s reach.
Gain access to Edelweiss Life’s comprehensive life insurance suite, along with their digital platform and service touchpoints.
CSFB aims to become the primary banker for middle-income customers by offering a wider range of financial products. Edelweiss Life leverages CSFB’s extensive network to reach new customers and offer innovative products.
This partnership utilizes the bancassurance model, where banks and insurance companies collaborate to distribute insurance products. Banks earn commission on sales, while insurers benefit from the wider distribution network.
This tie-up supports IRDAI’s (Insurance Regulatory and Development Authority of India) aim to increase insurance penetration and achieve “insurance for all” by 2047. IRDAI regulations allow banks to partner with multiple insurance companies.
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