ICICI Pru Life, Saraswat Bank join hands to offer life insurance products

By: | Published: September 21, 2018 6:57 PM

ICICI Prudential Life and Saraswat Co-operative Bank have joined hands to offer life insurance products ranging from protection to wealth creation.

ICICI Prudential Life reported further margin expansion, 140 bps qoq and 880 bps yoy to 18.9% in 4QFY18.ICICI bank has announced to sell 2% in ICICI prudential life insurance limited on Wednesday.

ICICI Prudential Life and Saraswat Co-operative Bank have joined hands to offer life insurance products ranging from protection to wealth creation. More than 280 Saraswat Bank branches located in Maharashtra, Goa, Gujarat, Delhi, Madhya Pradesh and Karnataka will now offer the range of health insurance plans and other long term saving products of ICICI Prudential Life.

“We are very pleased to enter into this alliance with ICICI Prudential Life. It gives us the opportunity to provide our customers with the best in class life insurance products which will take care of their protection and saving needs. Since customer centricity forms the core philosophy of both the companies, it is going to be a mutually benefitting collaboration and we are looking forward to work closely with ICICI Prudential Life,” said Smita Sandhane, Managing Director, Saraswat Co-Operative Bank.

”We are happy to partner with Saraswat Co-operative Bank, which is a trusted 100 year old name in the banking sector. We believe our customer centric protection products will enable the Bank’s customers to mitigate the uncertainties of life and provide a financial safety net to their families. Our savings products will also enable them to efficiently build wealth over the long term. Through our digital platform, we can facilitate a paperless on-boarding and deliver superior service to our customers. We believe this partnership will help the Bank enhance the value of its franchise and enable us to further strengthen our multi-channel distribution network,” N S Kannan, Managing Director & CEO, ICICI Prudential Life Insurance said.

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