Sri Lanka Insurance Corporation General Limited (SLICGL) has entered into a strategic bancassurance partnership with the Regional Development Bank (RDB), the leading financial institution dedicated to development finance, to ensure greater accessibility and convenience for customers seeking comprehensive insurance coverage.
The landmark Memorandum of Understanding (MOU) was recently signed at the RDB Head Office in Kelaniya, with top management representatives from both organizations in attendance. The milestone marks a significant step towards providing the rural masses with accessible and affordable insurance services to empower them and contribute to uplifting the rural economy.
Through the bancassurance partnership, SLICGL’s diverse range of insurance products will be available throughout RDB’s country-wide branch network. To date, RDB accounts for over six million loyal account holders, supported by an islandwide network of 272 branches. Customers can now conveniently obtain insurance coverage, including motor, fire, and general insurance policies, while conducting their regular banking transactions.
The collaboration aligns with SLICGL’s commitment to deliver innovative, reliable, convenient, and accessible insurance solutions meeting citizens’ evolving needs. Leveraging RDB’s widespread branch network and recognition as a trusted financial institution, SLICGL can reach a broader audience and provide all communities with peace of mind that comes with a comprehensive insurance service.
Additionally, the alliance with SLIC General expands RDB’s service portfolio, and enables the institution as financiers, to offer comprehensive insurance coverage while streamlining banking services to ensure community impact.
The strategic bancassurance partnership benefits both SLICGL and RDB as they are able to strengthen their business portfolios and expand their reach. Furthermore, it extends financial inclusivity to communities outside Colombo while also reinforcing economic stability.