AU Small Finance Financial institution (AU SFB) and state-owned United India Insurance coverage Firm (UIIC) on Friday introduced a strategic partnership to distribute basic insurance coverage options to the financial institution’s clients. It consists of motor insurance coverage, private accident insurance coverage, crop insurance coverage, property insurance coverage, shopkeeper insurance coverage, cyber incident insurance coverage, and extra, a joint assertion stated.
This collaboration positions AU SFB as a most popular selection for its numerous buyer base throughout 21 states and 4 union territories, providing dependable and inexpensive basic insurance coverage options, it stated.
The partnership leverages UIIC’s huge community of branches in over 1,000 tier 2 and tier 3 areas, aligning with AU SFB’s increasing infrastructure and rising buyer portfolio, it stated.
AU SFB, having just lately filed for a common banking license with the Reserve Financial institution of India (RBI), is now targeted on enhancing its bancassurance portfolio to supply progressive, technology-enabled insurance coverage options to its buyer base of over 1 crore, throughout all segments, it added.
