Star Union Dai-ichi Life Insurance (SUD Life) will tap customers living in small towns and rural areas through a partnership with Vakrangee.
SUD Life is a joint venture between Bank of India, Union Bank of India and Dai-ichi Life Japan.
The partnership with the fintech player, which is at the forefront of financial inclusion and social inclusion through its network of kendras, aims to increase the company’s footprint and provide services of insurance to the last mile across Bharat, SUD Life said in a statement.
SUD Life’s partnership, which has over 1.3 crore customers, with Vakrangee, which currently has 19,230 kendras, mostly in Tier 5 and 6 cities, will help the insurer expand its base in the inland regions of the country, he added.
”With the help of Nextgen Vakrangee kendras network, SUD life has created an opportunity to increase the footprint of organizations and further penetrate its services in unbanked and underbanked areas and will make India more secure” , Abhay Tewari, MD and CEO of SOUTH Life, says.
Dinesh Nandwana, Managing Director and CEO of the Vakrangee Group, said, “With this partnership, we continue to expand the bouquet of services available in our Vakrangee kendras and the super app BharatEasy. These Nextgen outlets have evolved into an exclusive digital convenience store model offering access to multiple product lines and services.” RAM PTI KPM
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