AU Small Finance Bank (AU SFB), India's largest small finance bank, has entered a strategic corporate agency partnership with SBI Life Insurance.
This collaboration aims to enhance access to comprehensive insurance solutions nationwide, supporting the government’s ‘Insurance for All by 2047’ mission by extending financial protection to underserved and emerging markets across India.
With this partnership, AU SFB will distribute SBI Life’s comprehensive portfolio of life insurance solutions, including protection, savings and investments, child, money back, retirement ad more across its robust network of over 2,505 banking touchpoints in 21 states and four union territories.
This integration will also enable customers to meet diverse protection and long-term financial planning needs through a unified banking and insurance experience, and is expected to strengthen outreach efforts in urban, semi-urban and rural markets.
The collaboration will leverage AU’s digital platforms and customer engagement channels to deliver a simplified, transparent and accessible insurance journey, as well.
“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,” said AU Small Finance Bank executive director and deputy CEO Uttam Tibrewal.
“By combining the strengths of both institutions, we aim to drive true financial inclusion and secure a better tomorrow for millions.”
Said SBI Life Insurance president – business strategy Abhijit Gulanikar, “Our partnership with AU Small Finance Bank is a strategic step towards deepening insurance adoption across India. 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.”