AU Small Finance Bank (AU SFB), India’s largest Small Finance Bank, has announced a strategic bancassurance partnership with Bharti AXA Life Insurance, a leading private life insurer under the Bharti Group. This collaboration aims to provide AU SFB’s customers with a comprehensive suite of life insurance and financial security solutions, enhancing the bank’s offerings and contributing to greater insurance penetration in India.
The agreement was formalized in Mumbai by Mr. Uttam Tibrewal, Executive Director and Deputy CEO of AU SFB, and Mr. Parag Raja, Managing Director and CEO of Bharti AXA Life Insurance. This partnership aligns with the shared vision of both entities to promote financial security under the themes “Viksit Bharat” and “Insurance for All.”
Through this collaboration, AU SFB’s customers will gain access to Bharti AXA Life Insurance’s diverse portfolio, including term insurance, ULIP plans, savings plans, child education plans, and retirement plans. The offerings are tailored to meet the needs of both urban and rural customers, providing enhanced financial solutions and personalized services.
Driving customer-centric innovation
Speaking about the alliance, Mr. Uttam Tibrewal said, “Our customers remain at the core of everything we do. This partnership with Bharti AXA Life Insurance reinforces our mission of evolving and adapting to their changing needs. Together, we aim to empower our customers to protect their loved ones, achieve their aspirations, and secure their financial futures while strengthening our ethos of ‘Banking Bhi, Bima Bhi.’”
Echoing this sentiment, Mr. Parag Raja highlighted, “This partnership allows us to simplify insurance for AU SFB’s extensive customer base. Our combined expertise will enhance insurance accessibility and help achieve IRDAI’s goal of ‘Insurance for All’ by 2047.”
