Bharti AXA Life Insurance & Unity Bank Forge Bancassurance Partnership

New Delhi, February 28, 2023: Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, today announced its bancassurance partnership with Unity Small Finance Bank (Unity Bank), a new-age, digital-first bank for the distribution of life insurance products through the Bank’s network of 111 branches and 206 offices pan-India.

Through this alliance, Bharti AXA Life’s insurance comprehensive suite of life insurance plans, including protection, savings, investment and retirement plans, will be available for purchase to 15 Lacs+ customers of the Bank spread across 17 states.

Along with its attractive interest rates on deposits and wide range of loan products, Unity Bank’s customers will benefit from a diverse range of new-age insurance solutions offered by Bharti AXA Life, enabling them to financially secure the future of their loved ones along with fulfil key financial goals like college education for their children, wealth building, retirement planning, and more.

Commenting on the association, Mr. Parag Raja, MD and CEO, Bharti AXA Life Insurance, said, “We are pleased to partner with Unity Small Finance Bank, which is a growing name as a truly digital bank in the domestic banking sector. 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.’’

Mr. Inderjit Camotra, MD and CEO, Unity Bank said, “At Unity Bank, we constantly endeavour to add to our portfolio and offer customers with a wide range of savings and investment products. Life Insurance solutions offer customers an avenue for long term wealth creation along with security for their loved ones. We are proud to partner with Bharti AXA Life, a renowned organization that offers simple and customer centric insurance solutions. Together with our growing branch network and their solutions portfolio, we are confident that our customers will benefit immensely.”

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Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.