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Urban co-op lender SVC Bank partners with DHFL Pramerica Life, Aditya Birla Health

Press Trust of India  |  New Delhi 

Insurers DHFL Pramerica Life and Aditya Birla Health Co today announced their partnership with old generation lender SVC to sell their policies through the

DHFL Pramerica Life recently entered a partnership with Limited for the distribution of to its customers, the company said in a statement.

The objective of this partnership is to offer easy access to simple products, thereby improving the and strengthening the of

Through this partnership, Aditya Birla will market its with innovative features to suit the needs of customers from all socio-economic segments across the country, Aditya Birla Co (ABHICL) said in a separate statement.

ABHICL said it would also be leveraging SVC Bank's presence and reach to create further deeper penetration in offering their services.

The bank, which is an arm of Aditya Birla Capital, with presence in key cities across will provide ABHICL a boost towards further strengthening its distribution, it said further.

"tie-up forms an important part ABHICL's growth strategy. This tie-up will enable us to leverage SVC Bank's retail and corporate pan-customer base, robust distribution network, strong brand name and legacy of over 100 years," said Mayank Bathwal, CEO, Aditya Birla Co. Limited.

Bathwal further added that owing to the huge opportunity and low penetration in the health insurance segment, the company will be able to cover a wide range of customers at

Anoop Pabby, and CEO, (DPLI) said, "Together with SVC Bank, will continue to work on increasing penetration of life insurance by offering customised products and making insurance more accessible. The strong distribution channel is a strategic move towards further enhancing our distribution footprint across the country."

Ajit Venugopalan, Managing Director, said bank's legacy and service advantage combined with ABHICL and DPLI will help in delivering new to customers.

SVC Bank is one of the oldest in the country which as set up in 1906.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 10 2018. 18:45 IST