AU Small Finance Bank has announced a strategic partnership with SBI Life Insurance to boost the accessibility of life insurance products across India, particularly in underserved and emerging markets. The alliance is part of a broader push to support the Government’s ‘Insurance for All by 2047’ mission.
Through this corporate agency tie-up, AU Small Finance Bank will distribute SBI Life’s diverse suite of life insurance offerings — including protection, savings, investment, child, money-back, and retirement plans — across its network of over 2,505 banking touchpoints in 21 states and 4 union territories. This collaboration aims to provide customers with a seamless banking and insurance experience under one roof.
The agreement was signed by key representatives of both institutions, including Mr. Dilip K. Vidyarthy of AU Bank and Mr. Ashwini Kumar of SBI Life, in the presence of senior leadership.
Speaking on the development, AU SFB Executive Director and Deputy CEO, Mr. Uttam Tibrewal, emphasized the bank’s commitment to financial inclusion, calling the partnership a step toward securing a better financial future for millions.
SBI Life’s President of Business Strategy, Mr. Abhijit Gulanikar, noted that AU Bank’s strong rural reach will help deepen insurance penetration and move closer to the shared goal of comprehensive financial protection for all Indian households.
This collaboration is expected to benefit both urban and rural customers by leveraging AU’s strong digital platforms and SBI Life’s expertise in insurance.
