India’s SBI Life Insurance has formed a corporate agency partnership with AU Small Finance Bank to enhance the availability of insurance solutions in the country.  

This initiative aligns with the government’s vision of ‘Insurance for All by 2047’  by extending coverage throughout the country.  

The collaboration will facilitate the distribution of life insurance products, serving various financial needs such as protection, savings, investment and retirement planning.  

These services will be accessible to customers through AU Small Finance Bank’s network, which includes more than 2,500 contact points across 21 states and four union territories. 

Moreover, the alliance will utilise AU Small Finance Bank’s digital channels.  

SBI Life Insurance Business Strategy president Abhijit Gulanikar said: “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.” 

AU Small Finance Bank executive director and deputy CEO Uttam Tibrewal said: “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.” 

In November 2024, AU Small Finance Bank partnered with Bharti AXA Life Insurance to provide life insurance solutions to its customers. 

AU Small Finance Bank’s portfolio encompasses a full spectrum of banking offerings including remittances, deposits, loans and credit cards.