Canara HSBC Life Insurance Company Ltd has entered into a strategic bancassurance partnership with West Bengal Gramin Bank (WBGB) to expand insurance penetration and strengthen financial inclusion across rural India.
Under the partnership, Canara HSBC Life Insurance will offer its range of life insurance products through WBGB’s network of 960 branches spread across West Bengal.
The collaboration aims to make protection and long-term financial planning solutions more accessible in rural and semi-urban regions.
Focus on financial inclusion
Canara HSBC Life Insurance Deputy CEO and Chief Distribution Officer Bancassurance Soly Thomas said the partnership would strengthen the company’s bancassurance distribution network and help extend insurance solutions to underserved regions.
The collaboration combines Canara HSBC Life Insurance’s protection expertise with WBGB’s deep community reach to support families in building long-term financial security and resilience, he said.
Insurance Access Through Rural Network
West Bengal Gramin Bank Chairman Alok K Goel said the bank has always focused on empowering communities through inclusive financial services and the partnership would help customers access comprehensive life insurance solutions.
He said the association would support financial well-being and long-term security for customers across the region.
The partnership will provide WBGB customers access to a range of insurance products covering protection, savings, wealth creation and family financial security. The initiative is also expected to support higher insurance penetration and encourage informed financial planning among rural customers.