Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India's leading business groups, and AXA, one of the world's largest insurance companies, today announced its bancassurance partnership with Fincare Small Finance Bank, one of the new age smart banks in the country, for distribution of life insurance products through the bank's pan-India network.
Under this arrangement, Bharti AXA Life Insurance will offer its comprehensive suite of life insurance products, including protection, savings and investment plans, to the customers of Fincare Small Finance Bank across its 747 branches and digital network presence across the country.
This alliance will make life insurance solutions reachable to over 26.5 Lakhs customers of Fincare Small Finance Bank and provide financial security to them.
Commenting on the tie-up, Mr. Parag Raja, Managing Director and Chief Executive Officer, Bharti AXA Life Insurance, said, "We are pleased to partner with Fincare Small Finance Bank, which is a growing name in the domestic banking sector. Our alliance shall empower the bank's customers with protection and holistic insurance solutions and help us strengthen our commitment to reaching out to all strata of the population. We believe this partnership will enrich our distribution footprint and help us increase insurance penetration in the country."
Fincare Small Finance Bank has presence across 19 States/UTs and serves its customers through 747 branches.
"We are proud to be associated with Bharti AXA Life Insurance for bringing best-in-class insurance solutions to our customers. Our association will enable us to offer need-based financial protection products suitable to a large segment of the population who are ignorant about the benefits of life insurance. The alliance is a part of the various measures being taken by us towards the process of financial inclusion," said Mr. Rajeev Yadav, Managing Director and Chief Executive Officer, Fincare Small Finance Bank.
Bharti AXA Life Insurance offers a wide range of innovative and smart individual and group insurance solutions, including protection, savings, health and investments, that help customers meet their various life-stage requirements.