Pune: SBI Life Insurance has partnered with AU Small Finance Bank, the country’s largest small finance bank, to provide comprehensive life insurance solutions across AU’s vast customer base. This collaboration is a strategic step toward realizing the Government of India’s ambitious vision of ‘Insurance for All by 2047’.
The corporate agency agreement was signed by Dilip K Vidyarthy, Head of Bancassurance & Cross-Sales at AU Small Finance Bank, and Ashwini Kumar, Regional Director–Mumbai Metro at SBI Life Insurance, in the presence of Gireesh Thampy, EVP & Chief of Institutional Alliances at SBI Life, and senior representatives from both organizations.
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Under this partnership, AU SFB will offer SBI Life’s diverse portfolio – including protection, savings and investment plans, child and retirement products, and money-back policies – through its extensive network of 2,505+ banking touchpoints across 21 states and 4 union territories.
This integrated approach enables customers to fulfill both their banking and insurance needs under one roof, promoting financial inclusion in rural and semi-urban markets.
Insurance for All by 2047: Improving Access to Long-Term Financial Planning Tools
Leveraging AU Bank’s strong rural reach and digital capabilities, the alliance will simplify the insurance buying journey, enhance transparency, and improve access to long-term financial planning tools for underserved communities to achieve the Insurance for All by 2047 goal.
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Speaking on the development, Uttam Tibrewal, Executive Director and Deputy CEO, AU Small Finance Bank said, “Financial protection should be a right, not a privilege. This partnership with SBI Life Insurance reflects our shared mission to deliver personalized, need-based insurance solutions that safeguard livelihoods across India’s diverse communities.”
Echoing this sentiment, Abhijit Gulanikar, President – Business Strategy at SBI Life Insurance, added, “Our alliance with AU Small Finance Bank aligns with our core mission to empower individuals by securing their financial futures. It brings us closer to the goal of ‘Insurance for All by 2047’ – making life protection a household essential across Bharat.”
This partnership builds on SBI Life’s continued efforts to expand insurance penetration in India and supports AU SFB’s vision of empowering communities through inclusive financial services. Together, the institutions aim to secure millions of Indian families with accessible, affordable, and trusted insurance solutions.
