New Delhi [India], August 6 : SBI General Insurance Company Limited and HSBC India have announced a bancassurance partnership.
According to a press release, this collaboration is a milestone in offering accessible and comprehensive non-life insurance solutions, aiming to enhance insurance penetration across the nation.
Through this alliance, SBI General Insurance seeks to deliver innovative insurance products to HSBC India's clientele nationwide.
Under the partnership, HSBC India will provide its customers with a full suite of SBI General Insurance's non-life insurance offerings, including health, property, motor, and travel insurance.
The collaboration will cater to the diverse needs of affluent Indians through HSBC India's extensive branch and digital network, ensuring customers have convenient access to a broad range of insurance products. This partnership is set to enhance customer experience by effectively meeting specific insurance needs with ease and efficiency.
Commenting on the partnership, Naveen Chandra Jha, MD & CEO of SBI General Insurance, said, "We are delighted to partner with HSBC India, and serve their esteemed customers across the states. With our innovative range of products and the bank's diverse customer base, we will be able to reach a broader customer base and offer them the protection they need against various risks. Together, we are committed to providing innovative insurance solutions and exceptional service to our customers."
Sandeep Batra, Head of Wealth and Personal Banking at HSBC India, added, "At HSBC, we continue to build out a distinctive, full-spectrum offering, for our customers. HSBC is the only international bank in India offering a full suite of financial services, including banking, asset management and insurance."
He added, "This bancassurance tie-up with SBI General Insurance aligns with our commitment to providing comprehensive financial solutions under one roof and delivering unparalleled value to our customers. We look forward to serving our customers with top-notch insurance products and excellent service standards."
This partnership leverages the strengths of both organizations, combining SBI General Insurance's wide-ranging product portfolio with HSBC India's extensive network. It aims to provide customers with seamless access to customized insurance solutions, safeguarding their assets and well-being.
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