HDFC Life, a leading life insurer in India, has announced a strategic partnership with Avanse Financial Services, an education-focused non-banking financial company (NBFC). The collaboration aims to provide group credit life insurance solutions to Avanse’s educational institution loan customers, thereby securing their loans and protecting them from unforeseen financial exigencies.
Avanse Financial Services is dedicated to making education financing seamless and affordable for Indian students. The company provides educational institution loan solutions to finance the growth and working capital requirements of educational institutes in India. HDFC Life, on the other hand, offers a range of innovative life insurance solutions designed to meet the evolving needs of customers.
The partnership combines Avanse’s customer-first approach with HDFC Life’s innovative product suite, superior service, and robust tech-led platforms. HDFC Life has a consistently high claim settlement ratio of 99.68% for FY’25, which provides customers with added assurance. The partnership aims to embed life insurance as an integral part of the financial foundation of educational institutions, enabling them to focus on providing quality education.
Vibha Padalkar, Managing Director & CEO of HDFC Life, commented that the partnership aligns with the company’s goal of financial protection for all. She stated that the association with Avanse Financial Services will provide a financial safety net to educational institutions, contributing significantly to shaping the future of students across the country.
Amit Gainda, Managing Director & CEO of Avanse Financial Services, said that the partnership aligns with the company’s customer-first approach and will strengthen the financial security framework for education institution loan customers. By integrating comprehensive protection solutions into their offerings, Avanse Financial Services aims to empower institutions to focus on delivering world-class learning while ensuring their financial resilience and long-term sustainability.
HDFC Life has been in operation for 25 years and has secured over 50 million lives in FY’25. The company continues to deliver value to all stakeholders and is committed to providing financial security to its customers. The partnership with Avanse Financial Services is expected to further strengthen HDFC Life’s reach and enable the company to take life insurance to more customers.