Guardian Life Insurance Limited, a fourth-generation life insurance company, has collected 700 policies through bancassurance in the past three and a half months, according to the company's Chief Executive Officer Sheikh Rakibul Karim.
This has resulted in earnings of Tk 47 lakh over three and a half months since the company started selling policies through bancassurance in March this year, he said during a views exchange with journalists at a hotel in Dhaka on Tuesday.
Rakibul said that the company has signed bancassurance agreements with three banks so far.
City Bank has entered into a bancassurance partnership with Guardian Life Insurance to offer insurance policies through its banking channels. This agreement was signed in December 2023 to provide integrated financial services to the bank's customers.
Mutual Trust Bank also partnered with Guardian Life Insurance for bancassurance in January this year. This deal enables the bank to offer Guardian Life's insurance products through its branches, contributing to greater awareness and availability of insurance services.
Dutch-Bangla Bank established a similar partnership with Guardian Life Insurance in January as well. This agreement will allow the bank to provide Guardian Life's insurance policies to its customers, enhancing their financial product offerings.
Rakibul said that Guardian Life Insurance is settling all claims of customers within the stipulated time. Moreover, through new policies, Guardian Life has captured almost 50 per cent of the current life insurance market.
