Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, and AXA, one of the largest insurance companies, today announced its bancassurance partnership with Utkarsh Small Finance Bank, a Small Finance Bank in the country, for the distribution of life insurance products through the Bank’s network of branches Pan-India.
Through this alliance, Bharti AXA Life’s insurance comprehensive suite of life insurance plans, including protection, health, savings and investment plans, will be available for purchase to 3 million+ customers of the Bank across its 600+ branches in 202 districts spread across 19 states and 2 Union Territories in the country.
The Bank's customers will benefit from a diverse range of new-age products offered by Bharti AXA Life that will help them ensure a financially secure future for their loved ones and also help fulfil key financial goals like college education for their children, wealth building, retirement planning, and more.
Parag Raja, MD & CEO, Bharti AXA Life Insurance, said, "This bancassurance partnership will help further strengthen our distribution and unlock growth opportunities through the Bank’s wide network. This tie-up will help us reach the tier II and tier III markets with insurance solutions thereby increasing insurance penetration in the country. Our alliance with Utkarsh Small Finance Bank will also help empower the Bank’s customers with protection and holistic financial planning solutions from our comprehensive product portfolio.’’
“It is a significant development for the Bank, as we increase our third-party product offering to our customers spread across the country. With Bharti-AXA Life Insurance Co. Ltd, we strengthen our insurance product offering and further diversifying the value proposition to our customers. With this tie-up, the Bank is well placed to provide our customers a choice of life insurance products that best suits their needs and convenience,’’ said . Govind Singh, MD & CEO, Utkarsh Small Finance Bank.
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