Taking a substantial step to enrich the array of financial solutions for customers, ESAF Small Finance Bank has officially declared a bancassurance collaboration with Edelweiss Tokio Life Insurance.
The partnership plays a crucial role in ESAF Small Finance Bank’s strategy to broaden its range of offerings, demonstrating its commitment to providing financial security to a more extensive segment of the unbanked and under-banked population.
K. Paul Thomas, MD and CEO, ESAF Small Finance Bank said, “This partnership aligns with our goal of providing our customers with a broad range of financial solutions. We look forward to making a meaningful impact in the lives of our customers. By extending the reach of life insurance to underserved communities, we are taking a significant step towards inclusive financial security.”
Sumit Rai, MD & CEO, Edelweiss Tokio Life Insurance said, “We have a strong presence in South India, and our partnership with ESAF Small Finance Bank will enable us to cement our leadership in this region. We will collaborate with the bank to bring innovative and relevant insurance solutions.”
The aim of this partnership is to widen the accessibility of innovative life insurance products, capitalizing on ESAF Small Finance Bank’s strong presence across rural markets in India. The alliance plays a pivotal role in Edelweiss Tokio Life’s comprehensive multi-channel distribution strategy, setting the stage for establishing new standards in customer-focused insurance services, a press release said.