Shriram Life Insurance Company (SLIC) has announced a significant partnership with ESAF Small Finance Bank, targeting India’s underserved segments. This collaboration will leverage ESAF’s extensive branch network to bring accessible and affordable life insurance products to millions across the country, especially first-time insurance buyers, low-income families, and rural households.
Under this strategic alliance, ESAF Small Finance Bank will serve as a corporate agent, distributing Shriram Life’s suite of insurance offerings through its 788 branches, 713 ATMs, and 1,095 customer service centers spread across 24 states and two Union Territories. As of June 30, 2025, ESAF serves a customer base exceeding 5.6 million, underscoring its reach and credibility in offering socially responsible banking solutions to marginalised communities.
Highlighting the mission-driven nature of the partnership, Casparus J.H. Kromhout, MD and CEO of Shriram Life Insurance, stated: “At Shriram Life, our mission has always been to serve the underserved by making insurance simple, affordable, and truly within reach. We believe protection should not be a privilege, but a basic financial right for every Indian household—no matter where they live or what they earn. That’s why this partnership matters. With ESAF’s strong local presence and our shared commitment, together we can help fulfill the vision of ‘Insurance for All’.”
Echoing this sentiment, K. Paul Thomas, MD and CEO of ESAF Small Finance Bank, commented: “This partnership strengthens our mission of serving the underserved by providing essential insurance solutions that promote financial security and resilience. Together, we’re committed to building a more inclusive and empowered future for our communities.”
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Both organisations share a steadfast commitment to making protection and financial security accessible to those who need it most. By combining Shriram Life’s expertise in micro-insurance and product innovation with ESAF’s trusted grassroots presence, the partnership is set to bridge insurance gaps and fortify the financial resilience of vulnerable populations. This joint initiative is not only a boost for both companies’ growth but also a step forward in the nationwide drive toward financial empowerment and comprehensive insurance coverage across rural and semi-urban regions of India.
