SBI Life Insurance, a trusted private life insurer in India, has signed a bancassurance pact with the State Bank of Sikkim (SBS) at the bank’s headquarters in Gangtok, Sikkim, to make comprehensive insurance solutions accessible to residents of Sikkim. Ensuring greater reach and penetration, the partnership will see an extensive distribution network of the State Bank of Sikkim spread across the state and offer SBI Life’s diverse range of protection, wealth creation, and savings insurance products to its customers. This partnership will empower customers to address their complete financial needs under one roof, making insurance products more accessible and affordable. The agreement was signed by Shri P. Wangdi Bhutia, Managing Director, State Bank of Sikkim and Shri Jayant Pandey, Regional Director- Bengal region, SBI Life Insurance in the presence of Shri S.R. Karki, Ms. Deepika Chettri, Shri Kunchok Bhutia, Shri Dorjee Teshering Lepcha, Shri Anil Pradhan, Shri Sameer Sharma, and Shri Ritesh Kumar Jha, Shri Vikas Patra, and other dignitaries.
Speaking about the partnership, Mr. G Durgadas – President-Zone 3, SBI Life Insurance said, “We are delighted to partner with the State Bank of Sikkim under the Corporate Agency tie-up. This collaboration marks a significant step forward in our mission to liberate individuals through life insurance and financial planning solutions. State Bank of Sikkim, with its deep-rooted presence and understanding of the local market, serves as a meaningful trustworthy partner for us to reach and serve the residents of Sikkim with our wide-range of insurance solutions.” He further added, “As a responsible corporate, we are committed to IRDAI’s mission of ‘Insurance for All by 2047’, and we feel this is a step in the right direction. We, look forward to strengthening the financial future of the bank’s customers with our products and tech-enabled services. We are confident that this partnership will enable us to further expand the insurance market. Together, we strive to enhance financial inclusion and security in the region.”
Speaking about the bancassurance partnership, Shri P.Wangdi Bhutia, Managing Director, State Bank of Sikkim said, “This partnership signifies our dedication to ensuring a secure & prosperous future for our customers, we are thrilled to embark on this path of mutual growth & excellence.”
