Karnataka Bank inks pact with HDFC Life to distribute life insurance products

Mangaluru-headquartered private sector lender the Karnataka Bank has entered into a strategic corporate tie-up with HDFC Life to offer life insurance products to its customers.

The partnership is a testament to the stated commitment to offer customers a range of innovative and customer-centric financial solutions. By combining Karnataka Bank’s century old banking experience and HDFC Life’s expertise in providing quality life insurance products, this collaboration is set to deliver a host of benefits to customers seeking financial security and life protection, the bank said in a statement.

Bank’s MD & CEO Srikrishnan H said: “We are excited to partner with HDFC Life in our centenary year. This collaboration aligns with our commitment to enhancing the suite of financial products and services available as a choice to our customers. It reflects our dedication to providing holistic financial solutions through our wide distribution and digital network and ensuring the well-being and security of our customers and their families”

Bank’s executive director Sekhar Rao said: “This association with HDFC Life will definitely add value to the KBL customers in the form of access to industry leading products in life protection. Further, at the heart of this association, both the organisations are committed to leveraging digital technologies to simplify and enhance the customer experience, making financial products and services more accessible and user-friendly”

HDFC Life spokesperson said, “Given the under-penetration, there is tremendous potential for life insurance in our country. Life insurance is the first step towards financial planning and we believe it is a must have for every individual with responsibilities. With our rich experience in managing bancassurance partnerships, we aim to offer a comprehensive suite of product solutions and best-in-class servicing, leveraging our investments in technology. We look forward to working closely with the Karnataka Bank team for the benefit of their customers”.


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