Bharti AXA Life Insurance has inked a bancassurance partnership with Utkarsh Small Finance Bank in a bid to distribute its life insurance products.
As a part of the pact, Bharti AXA’s life insurance offerings, including protection, health, savings and investment plans, will be available for purchase to 3 million+ customers of the Bank across its 600+ branches in 202 districts spread across 19 States and two Union Territories.
Parag Raja, Managing Director & Chief Executive Officer, Bharti AXA Life Insurance, said in a statement, “This tie-up will help us reach the tier-II and -III markets with insurance solutions. Our alliance with Utkarsh Small Finance Bank will also help empower the Bank’s customers with protection and holistic financial planning solutions from our comprehensive product portfolio.’’
Govind Singh, Managing Director & Chief Executive Officer, Utkarsh Small Finance Bank said: “This is a significant development for the Bank, as we increase our third-party product offering to our customers spread across the country. With Bharti-AXA Life Insurance Co Ltd, we strengthen our insurance product offering and further diversify the value proposition to our customers. With this tie-up, the Bank is well placed to provide our customers a choice of life insurance products that best suits their needs and convenience.”