Personal life insurer Bharti AXA Life Insurance coverage has entered right into a bancassurance partnership with Shivalik Small Finance Financial institution for the distribution of its life insurance coverage merchandise by means of the financial institution’s pan-India community of branches.
Below this settlement, Bharti AXA Life Insurance coverage will supply its suite of life insurance coverage merchandise, together with safety, well being, financial savings and funding plans, to prospects of Shivalik Small Finance Financial institution throughout its 31 branches and digital community throughout the nation.
This alliance will allow over 4.5 lakh prospects of Shivalik Financial institution to entry the vary of merchandise provided by the corporate to offer monetary safety.
Growth of distribution footprint
Commenting on the affiliation, Parag Raja, Managing Director and Chief Government Officer, Bharti AXA Life Insurance coverage, stated in a press release: “The outbreak of Covid-19 has led to a notable shift in prospects’ notion of life insurance coverage, which is essentially about safety. With our alliance with Shivalik Financial institution, we will empower the financial institution’s prospects with safety and holistic insurance coverage options and assist us strengthen our dedication whereas reaching out to city, tier-II and tier-III markets. We consider this partnership will enrich our distribution footprint and assist us improve insurance coverage penetration within the nation.”
Suveer Kumar Gupta, Managing Director and Chief Government Officer, Shivalik Small Finance Financial institution, stated this alliance is part of the financial institution’s varied measures in the direction of monetary inclusion and acceleration of wealth creation for its prospects.