LIC ties up with Policybazaar.com for distribution of its products

Ahead of its much-awaited initial public offering (IPO), state-owned insurance behemoth Life Insurance Corporation (LIC), has tied up with insurance aggregator Policybazaar.com for distribution of its products. This is LIC’s first association with an insurance aggregator, and otherwise relies heavily on its large agency force of 1.33 million agents for distributing its products.

In a statement, Policybazaar.com said they have joined hands with LIC to offer a wide range of term and investment products to consumers. “This affiliation aims at facilitating seamless digital distribution of life insurance products across the nation”, the company said.

Sarbvir Singh, CEO, Policybazaar.com said, “With this alliance,