Under the alliance, both entities will provide the bank’s clients with different term, savings and retirement plans.
The agreement allows Max Life to leverage DCB Bank’s 427 branches in India to further expand its distribution network.
Max Life Insurance Company deputy managing director V Viswanand said: “DCB Bank’s customer-centric approach and widespread reach make them an ideal partner for Max Life.
“Through this collaboration, we aim to provide superior customer experience by offering top-notch products, digital servicing, and an omnichannel approach.”
A joint venture between Max Financial Services and Axis Bank, Max Life provides its clients with multiple protection and long-term savings life insurance products.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Last month, Max Life announced the introduction of its new insurance savings plan, called Smart Wealth Advantage Growth Par Plan.
DCB Bank retail banking head Praveen Kutty said: “DCB Bank’s tie-up with Max Life will pave the way for adaptable, and varied life insurance products for our customers.
“Through this partnership, we aim to empower our customers by providing them with innovative and flexible life insurance products that cater to their needs.
“We are confident that Max Life’s bouquet of customised need-based products, along with the [DCB] Bank’s growing reach and strong technology capabilities, shall improve insurance penetration across the branch network.”