Kochi: In a significant move towards enhancing the financial solutions available to customers, ESAF Small Finance Bank today announced a bancassurance partnership with Edelweiss Tokio Life Insurance. This collaboration brings together two organisations dedicated to prioritizing customer needs and fostering a culture of growth and innovation. This partnership is an integral part of ESAF Small Finance Bank’s strategy to diversify its offerings and its dedication to extending financial security to a broader section of the unbanked and underbanked population.
Commenting on the collaboration, K. Paul Thomas, MD and CEO, ESAF Small Finance Bank said, “We are pleased to join hands with Edelweiss Tokio Life Insurance. This partnership aligns with our goal of providing our customers with a broad range of financial solutions. Together, 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.”
Commenting on the partnership, Sumit Rai, MD & CEO, Edelweiss Tokio Life Insurance said, “Aligned with IRDAI’s vision of Insurance for all, we have been focused on deepening our distribution width to create easy customer accessibility across the country. 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 improve our customer understanding in the region 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. This 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.
Acknowledging the dynamic shifts in customer aspirations, ESAF Small Finance Bank is dedicated to collaborating with Edelweiss Tokio Life. Together, they aim to provide pertinent solutions that address the distinct requirements of diverse customer segments.
