LIC, Yes Bank announce strategic Bancassurance partnership

Srinagar, Dec 4: The Life Insurance Corporation of India (LIC), the country’s largest life insurer, has entered into a strategic bancassurance partnership with YES BANK, India’s sixth largest private sector bank. This collaboration will enable YES BANK customers to access LIC’s comprehensive range of life insurance products through the Bank’s extensive branch network and digital platforms. YES BANK is widely recognized as the Preferred Banker to Digital India, with best-in-class technology infrastructure, a robust API stack, and a leadership position in digital payments.

The formal tie-up was announced in the presence of R Doraiswamy, CEO & MD, LIC of India, and Shri Prashant Kumar, Managing Director & CEO, YES BANK, along with senior officials from both organisations.

The partnership underscores the shared commitment of both institutions to expand financial protection and strengthen insurance penetration across India. Through this collaboration, YES BANK customers will be able to avail LIC’s diverse portfolio of products — including term plans, endowment policies, pension, and unit-linked insurance plans. Leveraging the combined strength of LIC’s 3600 branches and satellite offices and YES BANK’s 1,295 branches and 235 business correspondent outlets, the partnership aims to make life insurance more accessible nationwide and contribute meaningfully to the national vision of “Insurance for All by 2047.” This strategic alliance between LIC and YES BANK reinforces their joint commitment to promoting financial inclusion, enhancing insurance accessibility, and delivering best-in-class financial solutions across India.