The two companies also plan to extend their partnership further by providing bancassurance in China and Taiwan in future
Aviva Life Insurance and Singapore-based DBS Bank have entered into a strategic partnership for bancassurance in India, by which DBS Bank will offer its customers, customised insurance solutions from Aviva’s comprehensive portfolio.
Reportedly, as the corporate agent for Aviva Life Insurance, DBS Bank which provides banking and wealth management services, will now offer Aviva’s products like Aviva Young Scholar, Aviva Health Plus, Aviva LifeLine, Pension Elite and SaveGuard, to affluent and high net worth (HNI) customers from all its 10 branches.
TR Ramachandran, CEO and MD of Aviva India, said: “The tie-up with DBS Bank is an important milestone for Aviva. We are India’s leading Bancassurer with more partnerships and a first class reputation for implementation. Given the fast changing market dynamics and its volatility, customers today are seeking avenues for financial security. With this strategic tie-up Aviva and DBS can address this very need of the customers through our products and services.”
Sanjiv Bhasin, CEO of DBS India, said: “We are committed to building a universal banking franchise in India. As we step up our initiatives in the retail domain, teaming with Aviva reaffirms our approach of partnering with the best to offer optimal solutions and service excellence.”