LIC enters into tie-up with IDFC First Bank under corporate agency arrangement

Life Insurance Corporation of India (LIC) has entered into a tie-up with IDFC First Bank Ltd under corporate agency arrangement.

This tie-up will facilitate more than 1 crore customers of IDFC First Bank to buy LIC policies online by visiting the bank’s website, India’s largest life insurer said in a statement.

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Referring to more than 95 per cent of the bank’s transactions happening online, the Corporation said, “It would be a great experience for the bank customers to have end-to-end solution for their varied life insurance needs.”

R Doraiswamy, Managing Director, LIC, said, the coming together of the two financial entities will provide IDFC First Bank’s customers with the wide choice of LIC’s products.