A New Chapter Begins: Bandhan Life’s Bancassurance Endeavor in Kolkata

Kolkata has been known by many names: the City of Joy, Calcutta, Kolkata. It is a city famous for its trams, jams, and mouth-watering food! But Kolkata holds an even more special place for us in the insurance industry—it is the birthplace of modern-day insurance in India. This is where it all began, with hefty ledgers and comptometers, and it is fitting that Bandhan Life is starting a new, crucial journey here.

This September, at a press conference in Kolkata, we marked a significant milestone by announcing our strategic partnership with Bandhan Bank, a trusted financial institution with deep roots across India. We introduced two innovative insurance products: iGuarantee Vishwas, a savings insurance plan with guaranteed returns, and iInvest II, a unit-linked insurance plan that offers customers access to top-performing, 5-star and 4-star rated funds*.

Building on this momentum, we have also launched Shubh Samriddhi, a participating life insurance plan that offers immediate income, long-term savings, and extended life cover. Shubh Samriddhi empowers customers to embrace infinite possibilities by providing financial flexibility for current needs while securing future aspirations.

In October, our journey reached another meaningful milestone with the inauguration of our new strategic hub in Salt Lake City, Kolkata. This office is the first of 19 planned locations across the country, dedicated to our bancassurance operations, starting with Bandhan Bank. We celebrated the occasion with a traditional office puja, honoring our roots and setting the stage for a prosperous journey ahead.

These developments are just the beginning. We are crafting a full suite of offerings designed specifically for Bandhan Bank customers, aiming to empower them to achieve their financial aspirations. Our commitment is to provide tailored solutions that resonate with everyone's unique needs and dreams.

The Vision Behind the Alliance

This partnership isn’t just a business collaboration; it’s about touching lives, protecting dreams, and building futures. At Bandhan Life, we’ve always been committed to making life insurance simple and accessible. Now, with Bandhan Bank’s extensive network, we're able to take this mission to every corner of India. Starting with 600 branches in the eastern region, we will expand to over 1,700 branches nationwide by the end of 2024.

True to our brand promise—Bharat ki Udaan, Bandhan Se—our goal is to empower individuals and families to dream big, confident that their financial future is protected. Partnering with Bandhan Bank was the natural next step in advancing this mission.

Beyond Numbers

Our vision goes far beyond numbers or market share; it is about transforming lives. By leveraging technology, we've created a simple and seamless insurance-buying process that empowers consumers. This straightforward approach is especially transformative for self-employed or low-income individuals who have historically been underserved due to a lack of paperwork or traditional underwriting.

Today, we've simplified the process, eliminating paperwork, and offering instant policy issuance. Our dedicated bancassurance associates understand each customer's specific needs and are trained to create personalized insurance solutions for every Bandhan Bank customer.

The Beginning of Something Special

Returning to Kolkata—a city that has become one of my most frequently visited—I am filled with excitement and optimism. We're building upon the legacy of life insurance in India and evolving it to new heights of accessibility and simplicity.

We're also assembling a formidable team, having grown from 270 to 1,000 employees since April 2024. As we welcome new members into the Bandhan Life family, I want to express my heartfelt gratitude to the teams at Bandhan Life and Bandhan Bank. Their hard work and dedication have turned this vision into reality. Each one is an ambassador of our brand—reminding people that it’s okay to dream big because we have their backs.

*Fund ratings are based on past performance and are not indicative of future results.