BRAC Bank Limited signed an agreement with Life Insurance Corporation (LIC) of Bangladesh to collect insurance premium from the clients of LIC.
The customers can now deposit insurance premium at their doorsteps at convenient time and also get life insurance tips and benefits at the bank’s Agent Banking outlets and branches, said a press release.This is for the first a life insurance company is availing such service through the Bank’s Agent Banking platform.
This came as BRAC Bank’s Head of Corporate Banking Tareq Refat Ullah Khan and Managing Director of Life Insurance Corporation (LIC) of Bangladesh Arup Dasgupta signed the agreement on behalf of their respective organizations at a ceremony in Dhaka recently.
Commenting on the agreement, Tareq Refat Ullah Khan said: “We are utilizing our Agent Banking channel in cash management service. Agent Banking adds a new dimension to our cash management solutions and enables us to serve our customers even beyond stipulated banking hours.”