Max Life Insurance and Yes Bank have extended their bancassurance alliance by another five years.
The partnership enables Yes Bank to sell Max Life products through its branches.
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The companies said that they remain committed to offering several need-based products.
They aim to use technology across the customer value chain to boost efficiency and utilise existing ecosystems to improve customer experience.
The two parties began the alliance in February 2005.
In these years, the tie-up has expanded to include new banking verticals such as business and rural banking services.
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By GlobalDataThrough the alliance, the companies have served more than 2.5 lakh customers.
Max Life CEO Prashant Tripathy said: “We are delighted to extend our very successful partnership with YES Bank for another 5 years to protect the dreams and aspirations of lakhs of our customers and ensuring the fulfilment of their long-term financial needs and goals. We would like to thank Yes Bank for this opportunity that rests on the principles of Trust, Integrity and Customer Obsession.
“In the coming 5 years, we plan to further enhance our business and make investments in the area of technology, new product development, and customer service to ensure we journey together to help our customers realise their real value and financially protect their future.”
