Chennai: Bharti AXA Life Insurance, a subsidiary of Bharti Life Ventures Private Limited (a Bharti Group company), has announced a strategic bancassurance partnership with Equitas Small Finance Bank, aimed at expanding access to life insurance solutions across India, particularly in semi-urban and rural markets.
Under this bancassurance partnership, Bharti AXA Life Insurance will make its portfolio of protection, savings, and retirement solutions available to customers of Equitas Small Finance Bank.
The collaboration enables individuals and families to access long-term financial security and wealth planning solutions through the bank’s extensive distribution network of more than 1,042 outlets across 18 states and Union Territories, with a strong presence in Tamil Nadu, Karnataka, Kerala, and Maharashtra.
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Through the bancassurance partnership, customers of Equitas Small Finance Bank will be able to seamlessly access Bharti AXA Life Insurance products via the bank’s integrated physical and digital (phygital) channels.
The initiative is designed to improve life insurance penetration by leveraging Equitas SFB’s reach among underbanked and emerging customer segments.
Bancassurance Partnership to Expand Insurance Access Across Semi-Urban and Rural India
Commenting on the development, Nitin Mehta, Chief Distribution Officer – Partnership Distribution and Head of Marketing, Bharti AXA Life Insurance, said that Equitas Small Finance Bank has built a differentiated franchise with a strong focus on semi-urban and rural communities.
He noted that the partnership strengthens Bharti AXA Life Insurance’s partnership distribution footprint and supports its objective of simplifying insurance access, while aligning with the Insurance Regulatory and Development Authority of India’s vision of “Insurance for All” by 2047.
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Murali Vaidyanathan, Senior President and Country Head – Liabilities, Wealth Management and Digital Banking at Equitas Small Finance Bank, said the collaboration enhances the bank’s product offerings by providing customers access to a comprehensive range of life insurance solutions.
He added that the partnership complements customers’ banking needs and supports long-term financial planning objectives.
By combining Equitas Small Finance Bank’s distribution capabilities with Bharti AXA Life Insurance’s expertise in life insurance, the bancassurance partnership aims to drive broader adoption of life insurance products and strengthen financial preparedness among customers across diverse geographies.
