Private insurer DLF Pramerica Life Insurance (DPLI) said on Friday that it has signed an agreement with Goa’s Mapusa Urban Cooperative Bank (Mapusa UCB), Goa for a
corporate agency partnership, subject to regulatory approval.
“A distribution relationship will allow us to address the insurance related needs of the bank’s entire customer base in Goa, a region where we see immense potential for life
insurance business,” DPLI Managing Director and CEO Pavan Dhamija said in a release issued in Mumbai.
The Memorandum of Understanding (MoU) between the two companies was signed by Dhamija and Mapusa UCB Chairman Ramakant D Khalap in Panaji.
DPLI’s focus is on ‘life protection’ and at the same time, the company is building strong distribution and servicing capabilities that are keenly directed towards providing enhanced customer service, company Executive Vice President – Products and Third Party Distribution, Davinder Singh said.
“Our alliance with Mapusa UCB that has significant presence in Goa is another step in this direction,” he added.
DPLI is a joint venture between DLF, a real estate company, and Prudential International Insurance Holdings, a fully-owned subsidiary of financial services provider Prudential Financial Inc headquartered in the US.