Aditya Birla Sun Life Insurance ( ABSLI) has entered into a partnership with Equitas Small Finance Bank to expand the accessibility of life insurance products to a wider audience. This collaboration aims to leverage the bank’s extensive network and customer base to offer a range of life insurance solutions to its customers.
Through this partnership, ABSLI will offer its suite of life insurance products, including term life, savings, retirement, and health insurance plans, to Equitas Small Finance Bank’s customers. The bank has a strong presence in rural and semi-urban areas, which will enable ABSLI to reach out to a larger segment of the population and increase insurance penetration in these regions.
The partnership will enable Equitas Small Finance Bank to offer its customers a comprehensive range of financial products, including life insurance, thereby enhancing their overall financial well-being. The bank’s customers will be able to purchase life insurance products through the bank’s branches, online platform, or through its mobile banking app.
ABSLI will provide training and support to Equitas Small Finance Bank’s staff to ensure that they are equipped to offer the right life insurance solutions to customers. The company will also provide customer support and service to policyholders, ensuring a seamless experience.
The partnership is expected to benefit both parties, with ABSLI gaining access to a larger customer base and Equitas Small Finance Bank being able to offer a more comprehensive range of financial products to its customers. This collaboration is also expected to contribute to the growth of the life insurance industry in India, particularly in rural and semi-urban areas where insurance penetration is currently low.
The CEO of Aditya Birla Sun Life Insurance, Kamlesh Rao, said, “We are excited to partner with Equitas Small Finance Bank, which has a strong presence in rural and semi-urban areas. This partnership will enable us to reach out to a larger segment of the population and increase insurance penetration in these regions.”
The MD and CEO of Equitas Small Finance Bank, Vasu Rao, said, “We are pleased to partner with Aditya Birla Sun Life Insurance, which has a strong reputation in the life insurance industry. This partnership will enable us to offer a comprehensive range of financial products to our customers, thereby enhancing their overall financial well-being.”
Overall, the partnership between Aditya Birla Sun Life Insurance and Equitas Small Finance Bank is expected to increase access to life insurance products for a wider audience, particularly in rural and semi-urban areas, and contribute to the growth of the life insurance industry in India.