Private life insurer Bharti AXA Life Insurance has entered into a bancassurance partnership with Shivalik Small Finance Bank for the distribution of its life insurance products through the bank’s pan-India network of branches.

Under this agreement, Bharti AXA Life Insurance will offer its suite of life insurance products, including protection, health, savings and investment plans, to customers of Shivalik Small Finance Bank across its 31 branches and digital network across the country.

This alliance will enable over 4.5 lakh customers of Shivalik Bank to access the range of products offered by the company to provide financial security.

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Expansion of distribution footprint

Commenting on the association, Parag Raja, Managing Director and Chief Executive Officer, Bharti AXA Life Insurance , said in a statement: “The outbreak of Covid-19 has led to a notable shift in customers’ perception of life insurance, which is fundamentally about protection. With our alliance with Shivalik Bank, we shall empower the bank’s customers with protection and holistic insurance solutions and help us strengthen our commitment while reaching out to urban, tier-II and tier-III markets. We believe this partnership will enrich our distribution footprint and help us increase insurance penetration in the country.”

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Suveer Kumar Gupta, Managing Director and Chief Executive Officer, Shivalik Small Finance Bank, said this alliance is a part of the bank’s various measures towards financial inclusion and acceleration of wealth creation for its customers.

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