Birla Sun Life Insurance (BSLI), today announced the renewal of its bancassurance partnership with Development Credit Bank by another three years.
"This strong partnership, which has been in existence for a period of six years, will be extended for an additional duration of three years by both parties," a press release issued here said.
Development Credit Bank ranks amongst the top three bancassurance partners of BSLI and contributes over 10 per cent to the company's overall bancassurance business.
The bank has been instrumental in establishing BSLI's association with close to 50,000 policyholders, the release said.
Moreover, the partbnership has recorded a strong inflow of renewal premium income for BSLI signifying consumer's trust and satisfaction in the service standards delivered through the partnership, it added.
DCB's Managing Director & CEO, Murali M Natrajan, said, "After a successful partnership spanning over six years, DCB has renewed its relationship with BSLI for the second time despite stiff competition from peers."
"Policyholders through DCB have a high persistency (renewal premium) reflecting the quality of service and advice offered by DCB and BSLI jointly."
