Airtel Payments Bank has recently entered into a partnership with Bharti AXA Life Insurance in order to offer a life term insurance plan through its extensive network of banking points all over the country. The product, Bharti AXA Life POS (Point of Sale) Saral Jeevan Bima Yojana, is aimed at the under-insured and uninsured segments in India. Both the partners will leverage wide network in order to reach out to deep rural pockets and serve the under-insured.
Vikas Seth, managing director and Chief Executive Officer, Bharti AXA Life Insurance, said, “As a responsible life insurer, we always try to understand the needs of customers and provide solutions that meet their financial requirements. As part of our partnership and strong synergies of customer-centricity, we are offering an affordable pure term insurance plan to the diverse customer base of Airtel Payments Bank across the country to extend protection cover to the uninsured segment of the society and improve their financial security and prosperity.”
All savings bank account customers of Airtel Payments Bank can buy the Bharti AXA Life POS Saral Jeevan Bima Yojana through a simple yet quick, secure and paperless process at their banking points. Though the policy is available at Airtel Payments Bank’s 25,000 retail outlets at the initial stage, this will soon be expanded to cover over 60,000 banking points.
“We are delighted to partner with Bharti AXA Life Insurance to offer this simple and affordable pure term insurance product to millions of underinsured Indians through our unique and extensive distribution network. Saral Jeevan Bima Yojana effectively complements the existing portfolio of financial inclusion products on our banking platform which include PMJJBY and APY. This association is an important step in our journey towards building a comprehensive product portfolio for a financially inclusive society,” said Anubrata Biswas, MD and CEO, Airtel Payments Bank.
