Standard Chartered Bank and Eagle Insurance have forged a bancassurance partnership in Sri Lanka designed to allow Standard Chartered to provide a comprehensive insurance option to its investment customers in Sri Lanka.
The partnership will allow Standard Chartered to offer the InvestPlus and LifeLong insurance products to its account holders. The policies will be underwritten by Eagle Insurance, an Aviva company, and one of the leading insurance providers in Sri Lanka.
The products are designed to allow customers flexibility to select their fund options – Secure, Growth, Balanced, and Protected, depending on their individual risk appetite. The product features include life cover, accident cover, and critical illness cover and provides the ideal blend of security and long-term savings, Aviva said in a statement.
This particular product range from Eagle Insurance is currently available exclusively for Standard Chartered Bank customers in Sri Lanka.
Eagle is a composite insurer, focusing on life, general and asset management business. Eagle’s life business presently enjoys a 20% share in the Sri Lankan life insurance market. Life business accounts for 70% of Eagle’s premium income, coming predominantly via direct sales.