HDFC Life, a prominent Indian insurer, has partnered with Peerless Financial Products Distribution Ltd. (PFPDL) for a corporate agency deal. This partnership would enable PFPDL to distribute life insurance products of HDFC Life to its customers. PFPDL is a subsidiary of the Peerless General Finance & Investment Co. Ltd (PGFI), one of India’s oldest and biggest NBFCs in East India. PFPDL has 40 branches with a broad customer base across 42 locations.
Peerless Financial Services Ltd (PFPDL) is partnering with HDFC Life to provide financial protection to its customers. The partnership aims to enhance HDFC Life’s presence in India, which has a low life insurance penetration compared to global markets. The partnership will allow customers to choose their preferred service mode. HDFC Life offers a range of products to meet the life-stage needs of individuals, providing a financial safety net and enabling them to fulfill their long-term financial goals. In FY 2024, HDFC Life secured over 66 million lives with a claim settlement ratio of 99.7%.
Speaking about the new association, Satyaki Bhattacharya- Managing Director& CEO, Peerless Financial Products Distribution Ltd said, “We are delighted to collaborate with HDFC Life in our endeavour to secure families financially.”