SBI General Insurance, one of the leading general insurance companies in India, has signed a corporate agency agreement with IDFC FIRST Bank for the distribution of non-life insurance Solution. Through this agreement, SBI general insurance will access the IDFC first bank’s larger customer base resulting in wider penetration of its insurance products through the latter’s digital-first approach.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Under this strategic agreement, SBI General Insurance will offer insurance products such as health, personal accident, home, motor and travel along with the commercial line of insurance products such as property, marine and engineering insurance to the bank’s customers.
What is Bancassurance?
Bancassurance is a collaboration between the insurance company and bank under which the former sells the insurance products to the bank’s customer base. This will benefit the bank too as it gets a commission amount from the insurance company.
Important takeaways for all competitive exams:
Central Government has give the additional charge of Secretary, Department of Defense Research and Development,…
Indian Railways has unveiled the redesigned 18 star logo mark the creation of the South…
The Kempegowda International Airport of Bengaluru has overtaken the Mumbai’s Chhatrapati Shivaji Maharaj International Airport…
The Ministry of Health and Family Welfare has released the National Family Health Survey-6 (NFHS-6)…
India has strengthened the semiconductor manufacturing hub by signing of the $3.3 billion agreement between…
India has launched the Logistics Port Performance Index (LPPI) and several digital governance initiatives. It…