BANKIT Signed a Corporate Agent Agreement with LIC And SBI General Insurance

BANKIT, a crucial player in India’s financial landscape, recently tied up a corporate Agency partnership with LIC (Life Insurance Corporation of India) and SBI General Insurance, two of India's most reputable insurance giants. This landmark collaboration is poised to revolutionize the way insurance services are delivered in the remotest corners of the country.

 BANKIT’s partnership with LIC and SBI General Insurance comes with two facets. Firstly, it will directly impact the income streams for BANKIT Agents. Agents will now have the opportunity to offer their customers a wide range of insurance services, including life insurance and general insurance policies. This diversification of services will not only increase the income of agents but also empower them to become comprehensive financial service providers in their communities.

Secondly, millions of people in rural and unbanked areas have long been deprived of convenient access to insurance services. This collaboration will bridge that gap by bringing essential insurance coverage to their doorstep. Families will have life insurance security, and individuals will have access to general insurance products that protect against unforeseen events.

“We are confident that our collaboration with LIC and SBI General Insurance will be a game-changer in the FinTech and insurance sectors,” said Mr. Amit Nigam, Executive Director & COOHe further added, “ By combining our extensive agent network with the trusted brand names of LIC and SBI General Insurance, we are not only increasing financial inclusion but also improving the quality of life for countless individuals. This partnership aligns perfectly with our mission to empower the underserved and transform rural India into a financially resilient and prosperous community”.

BANKIT has always been dedicated to creating employment opportunities for local shop owners in rural and unbanked areas. Through a vast network of BANKIT Agents, these entrepreneurs have offered essential digital banking, financial, and payment services to previously underserved populations. Under this partnership, these agents can deliver more now, aligning with BANKIT’s commitment to going above and beyond.