Lakshmi Vilas Bank Announces Corporate Agency Tie Up With HDFC
Chennai, August 29, 2018: HDFC ERGO General Insurance Company, India’s leading private sector general insurance company and Lakshmi Vilas Bank, announced tie-up for the distribution of HDFC ERGO’s range of non-life insurance offerings to the customers of the Bank through its network branches.
The two entities have joined hands and entered into a corporate agency partnership to offer comprehensive general insurance products through the network of Lakshmi Vilas Bank’s 560+ branches, 7 extension counters which spreads across 18 states and 1union territory within the country. The Bank’s network and edge in the priority sector banking in southern India comes as an advantage for HDFC ERGO, allowing the Company to strengthen its foothold within the region. Also, this enables Lakshmi Vilas Bank to offer their customers’ a comprehensive solution for all their financial requirements under a single roof.
Mr. P Mukherjee, MD & CEO, Lakshmi Vilas Bank said, “We are delighted to announce HDFC Ergo as our Bancassurance partner. This alliance marks the reaffirmation of our commitment towards our customers’ financial well-being by providing them with comprehensive insurance solutions. We look upto this partnership with high expectations of a best-in-class insurance service experience for our customers, as a part of our 360-degree financial service offerings.”
Commenting on the tie-up, Mr. Anuj Tyagi, Executive Director & Chief Distribution Officer, HDFC ERGO General Insurance said, “Bancassurance benefits the customers in more than one way making it an easy and a trust-worthy channel. The alliance with Lakshmi Vilas Bank is an important milestone for us and an integral part of our growth strategy. It is our constant endeavour to make our products more widely available for the consumers from all sections of the society and we see immense opportunity in our association with the Bank.”