LIC & YES Bank Mega Deal: Bancassurance Partnership to Transform Insurance Access
LIC and YES BANK announce a strategic bancassurance partnership, allowing YES BANK customers access to LIC's full range of insurance products, leveraging their combined 5,130+ branches and outlets nationwide.
The Life Insurance Corporation of India (LIC), the nation’s largest life insurer, has announced a new bancassurance alliance with YES BANK, the sixth-largest private sector bank in India. Through this partnership, YES BANK customers will now have convenient access to LIC’s wide selection of life insurance solutions across the Bank’s branch network as well as its digital platforms.
Known for its strong digital ecosystem, advanced API capabilities, and leadership in digital payments, YES BANK strengthens the distribution potential of this collaboration.
The partnership was formally unveiled in the presence of Shri R. Doraiswamy, CEO & MD of LIC, and Shri Prashant Kumar, Managing Director & CEO of YES BANK, along with senior leaders from both organizations. The collaboration highlights the commitment of both institutions to deepen financial protection and improve insurance outreach across the country.
Under this tie-up, customers of YES BANK will be able to choose from LIC’s full suite of offerings, including term insurance, endowment plans, pension products, and unit-linked policies. With LIC’s network of over 3,600 branches and satellite offices combined with YES BANK’s 1,295 branches and 235 business correspondent centers, the initiative aims to make life insurance easily accessible to people across India and support the national mission of achieving “Insurance for All by 2047.”
This strategic collaboration brings together the strengths of LIC and YES BANK to advance financial inclusion, enhance insurance penetration, and deliver holistic financial solutions to customers nationwide.