Partnership to deepen insurance adoption across the country
SBI Life Insurance has entered a strategic corporate agency partnership with AU Small Finance Bank, the country’s largest Small Finance Bank, supporting the government’s ‘Insurance for All by 2047’ mission by extending financial protection to underserved and emerging markets across India.
This collaboration aims to enhance access to comprehensive insurance solutions nationwide, SBI Life said on 4 Aug. 25.
The agreement was signed by Dilip K. Vidyarthy, Head of Bancassurance & Cross- Sales, AU Small Finance Bank and Ashwini Kumar Regional Director- Mumbai Metro, SBI Life Insurance in presence of Gireesh Thampy, EVP & Chief of Institutional Alliances, SBI Life Insurance and other respected dignitaries from both the organisations https://www.nseindia.com/.
With this alliance, AU SFB will distribute SBI Life’s comprehensive portfolio of life insurance solutions, including protection, savings and investments, child, money back, retirement etc. across its robust network of over 2,505 banking touchpoints in 21 states and 4 union territories. This integration will enable customers to meet diverse protection and long-term financial planning needs through a unified banking and insurance experience https://www.bseindia.com/.
With SBI Life’s proven expertise in driving insurance adoption and delivering trusted protection solutions, the partnership with AU SFB further strengthens our outreach efforts — especially across rural and semi-urban markets. The collaboration will also leverage AU’s digital platforms and customer engagement channels to deliver a simplified, transparent, and accessible insurance journey https://sbi.com.in/.
Uttam Tibrewal, Executive Director and Deputy CEO, AU Small Finance Bank, said, “At AU Small Finance Bank, we believe financial security is a fundamental right, not a privilege. This partnership with SBI Life Insurance reinforces our shared commitment to delivering reliable, need-based insurance solutions to diverse communities across urban and semi-urban areas of India. By combining the strengths of both institutions, we aim to drive true financial inclusion and secure a better tomorrow for millions.”
Abhijit Gulanikar, President – Business Strategy, SBI Life Insurance, elaborated, “Our partnership with AU Small Finance Bank is a strategic step towards deepening insurance adoption across India. At SBI Life, we’re committed to liberating individuals by securing their families’ financial futures. AU’s strong rural reach and community connect bring us closer to the shared vision of ‘Insurance for All by 2047’, making protection more accessible — one household at a time .”
AU Small Finance Bank Limited (AU SFB), a Scheduled Commercial Bank, is India’s largest Small Finance Bank. Founded in 1996, AU began its banking operations in April 2017 and enters its 30th year with a legacy of building a sustainable and inclusive financial institution focused on serving underserved and under-reached communities through a robust retail banking model.
SBI Life Insurance was incorporated in October 2000 and was registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001. Serving millions of families across India, SBI Life’s diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions. Fiinews.com
