Shivalik Small Finance Bank has partnered with PNB MetLife to offer life insurance solutions to customers in rural and semi-urban areas of India. This partnership aims to expand access to insurance products in underserved markets, providing over one million existing and prospective customers of Shivalik Bank with a range of life insurance solutions. These solutions include savings, protection, and retirement plans, which will be made available through Shivalik Bank’s network of 79 branches and 136 exclusive Business Correspondent (BC) outlets across 11 states.
The partnership is a significant step towards increasing insurance penetration in rural India, where access to such products is often limited. By leveraging Shivalik Bank’s extensive network, PNB MetLife can reach a larger customer base and provide them with comprehensive life insurance solutions. This collaboration builds on PNB MetLife’s efforts to reach underserved markets in India, demonstrating the company’s commitment to increasing insurance access and financial inclusion.
The partnership is expected to benefit both parties, as Shivalik Bank will be able to offer its customers a wider range of financial products, while PNB MetLife will gain access to a larger customer base. The alliance will also contribute to the growth of the insurance industry in India, particularly in rural and semi-urban areas. With this partnership, PNB MetLife and Shivalik Bank aim to make a positive impact on the lives of millions of people in India, providing them with financial security and protection.
The collaboration between PNB MetLife and Shivalik Bank is a significant development in the Indian insurance industry, highlighting the importance of partnerships in expanding access to financial services. As the insurance industry continues to evolve, such partnerships are likely to play a crucial role in increasing insurance penetration and promoting financial inclusion in India. By working together, PNB MetLife and Shivalik Bank can make a meaningful difference in the lives of their customers, providing them with the financial protection and security they need to thrive.