LIC Joins Forces with IDFC First Bank for Corporate Agency Arrangement
In a strategic move, the Life Insurance Corporation of India (LIC) has forged a partnership with IDFC First Bank Ltd through a corporate agency arrangement.
This collaboration aims to streamline the process for over 1 crore IDFC First Bank customers to purchase LIC policies conveniently via the bank’s website, as highlighted in a statement by India’s largest life insurer.
With over 95% of the bank’s transactions taking place online, LIC anticipates providing the bank’s customers with an exceptional end-to-end solution for their diverse life insurance requirements.
R. Doraiswamy, Managing Director of LIC, expressed enthusiasm about the alliance, emphasizing that it will grant IDFC First Bank’s customers access to a wide range of LIC products.