Insurance platform

Singapore-headquartered DBS Bank India (DBS) has thrown open its distribution platform to two life insurers - Tata AIA Life and Birla Sun Life Insurance. The bank had been selling only Aviva India Life Insurance’s policies so far. Banks were not allowed to enter into distribution partnerships with more than one life, general and health insurer until 2015, when insurance regulator IRDAI eased the norms, paving the way for banks to sell up to three life insurers’ products. Similarly, banks are now free to tie up with up to three insurers each in the general and standalone health insurance segments.

olmdesk@outlookindia.com