Saraswat Co-operative Bank, India’s largest urban co-operative bank, has formed a partnership with PNB MetLife India Insurance Company Limited to promote financial inclusion through life insurance solutions. The collaboration will offer a range of insurance products, including savings, protection, retirement, and group plans, to Saraswat Bank’s 30 lakh customers across its 302 branches nationwide. Through this partnership, PNB MetLife aims to bridge the insurance gap in India by leveraging the bank’s wide network and reaching customers through multiple channels. According to reports, Saraswat Bank’s Managing Director and Chief Executive Officer, Arti Patil, highlighted the partnership’s potential to enhance customer services, while PNB MetLife’s Managing Director and Chief Executive Officer, Sameer Bansal, emphasized the importance of reaching a wider audience to increase insurance penetration in the country.
The partnership brings together Saraswat Bank’s extensive customer base and PNB Metlife’s insurance expertise to provide a range of products that cater to different customer needs. With this collaboration, customers can access a variety of insurance solutions, including savings, protection, retirement, and group plans, alongside their banking services. By leveraging each other’s strengths, the partnership aims to promote financial inclusion, increase insurance penetration, and provide customers with a comprehensive range of financial products and services.