Axis Bank scouts for life insurance tie-up

Was not interested in entering the segment itself because of opportunities in core banking business

Private sector lender Axis Bank is planning to expand its business of distributing life insurance policies through a tie-up with one more insurer.

In the case of life insurance, the bank currently has a partnership with Max Life and LIC. Now, the rule allows an open architecture with up to three insurers. The private bank will at some point look at adding a third partner as well, its managing director and chief executive officer Shikha Sharma said at CII’s banking technology summit. 

She declined to give a timeline for a tie-up and added that the tie-up will not be influenced by geographical