Empowering Underserved India: Shriram Life Partners with ESAF Bank for Inclusive Growth

Shriram Life Insurance Company (SLIC) has joined forces with ESAF Small Finance Bank to enhance the availability of life insurance products in India's underserved areas. This strategic partnership appoints ESAF Bank as a corporate agent for Shriram Life, thereby leveraging ESAF's extensive branch network to reach new insurance buyers, particularly low-income families and rural communities.

ESAF Bank, which received its banking licence from the Reserve Bank of India in 2016, now boasts over 788 branches, 713 ATMs, and 1,095 customer service centers across 24 states and two Union Territories. It serves more than 5.6 million customers with a focus on socially responsible banking. According to Casparus J.H. Kromhout, MD and CEO of Shriram Life Insurance, the partnership aligns with their mission of making insurance an accessible financial right for every Indian household.

K. Paul Thomas, MD and CEO of ESAF Small Finance Bank, emphasized that the alliance strengthens their mission of providing financial security and resilience to underserved communities. By combining efforts, both companies aim to promote financial inclusion and create an empowered future for their communities.

(With inputs from agencies.)