Bharti AXA Life Insurance, a joint venture between Bharti Enterprises and global insurance firm AXA, has entered into a bancassurance tie up with Unity Small Finance Bank (Unity Bank) in order to sell its life insurance products through the lender’s network of 111 branches and 206 offices across India.
Through this alliance, Bharti AXA Life’s entire suite of life insurance plans, including protection, savings, investment, and retirement products, will be offered to over 1.5 million customers of the bank, across 17 states.
Bharti AXA Life Insurance has a presence across India, through 251 offices.
Commenting on the association, Parag Raja, MD and CEO, Bharti AXA Life Insurance, said, “Our alliance will empower the bank’s customers with protection and holistic financial planning solutions from our comprehensive product portfolio. This partnership is an important part of our growth strategy. It will help in further strengthening our distribution and unlocking growth opportunities through the bank’s wide network, thereby increasing insurance penetration in the country.”
Inderjit Camotra, MD and CEO, Unity Bank said, “Life Insurance solutions offer customers an avenue for long-term wealth creation along with security for their loved ones…Together with our growing branch network and their solutions portfolio, we are confident that our customers will benefit immensely.”