In a bid to bolster its foothold in Tier 2 and Tier 3 cities, HDFC Life has inked a significant corporate agency tie-up with Peerless Financial Products Distribution Ltd. (PFPDL). This strategic collaboration aims to extend HDFC Life’s insurance products across 42 locations covered by PFPDL, a subsidiary of Peerless General Finance & Investment Co. Ltd (PGFI), known for its stronghold in East India.
The partnership aligns with the pressing need to enhance life insurance penetration in India, particularly amidst a growing awareness of financial security. With PFPDL boasting 40 branches and a diverse customer base, the tie-up offers HDFC Life a robust distribution channel to tap into previously underserved markets.
Satyaki Bhattacharya, CEO of Peerless Financial Products Distribution Ltd., expressed optimism about the alliance’s potential to provide innovative life insurance solutions tailored to regional needs. Similarly, Suresh Badami, Deputy Managing Director of HDFC Life, emphasized the collaboration’s role in advancing India’s ‘Insurance for All’ vision.
