Edelweiss Tokio Life enters bancassurance tie-up with Fincare Small Finance Bank
1 March 2019
With an aim to strengthen its Bancassurance channel, Edelweiss Tokio Life Insurance – a joint venture between Edelweiss Group and Tokio Marine Holdings – today announced its partnership with Fincare Small Finance Bank.
Sumit Rai, MD & CEO, Edelweiss Tokio Life Insurance said, “We have been focused on strengthening our Bancassurance channel and have found an ideal partner in Fincare Small Finance Bank. As new age entities, it is an exciting opportunity for us to grow together. This partnership will enable us to bring a wider audience under the umbrella of insurance and also provide them a cost effective tool for wealth accumulation.”
This strategic partnership will provide an opportunity for both the entities to effectively reach untapped markets and grow together. Through this partnership, the bank will offer Edelweiss Tokio Life’s products to its existing as well as new customers. The focus will be on using technology for creating a superior customer experience from Day 1.
Rajeev Yadav, MD & CEO, Fincare Small Finance Bank said, “As we move forward in our crucial phase of expansion, like-minded partners like Edelweiss Tokio Life will help us bring a compelling financial offering to our customers. A combination of innovative product suite, and strong market reputation will certainly appeal to our customers.”
About Edelweiss Tokio Life Insurance
Edelweiss Tokio Life Insurance Company Limited is a joint venture between Edelweiss Financial Services Limited, one of India’s leading and diversified financial services companies and Tokio Marine Holdings Inc, one of the oldest (over 138 years) and largest insurance companies in Japan. Edelweiss Tokio Life Insurance launched its pan-India operations in July 2011, offering proprietary need-based solutions to help customers meet their life stage financial goals. This lineage brings together a deep understanding of customer needs and international expertise. The company is headquartered in Mumbai serving over 1.75 lakh customers through 31,031 personal finance advisors across 121 branches in 93 major cities as on March 31, 2018.
Edelweiss Tokio Life Insurance has been consistently recognized for its Product Innovation capabilities at several forums, namely Golden Peacock Awards 2018, Golden Globe Tigers Awards 2018, ET NOW - BFSI Awards 2018, and Times National Award for Marketing Excellence 2018.
To learn more about Edelweiss Tokio Life Insurance, please visit www.edelweisstokio.in
About Fincare Small Finance Bank
Fincare Small Finance Bank Limited is a bank formed after the conversion of Disha Microfin Limited, an NBFC-MFI. Disha Microfin was one among the 10 recipients of the ‘in-principle' approval from the Reserve Bank of India in September 2015. The Bank commenced operations in July 2017, and offers microloans, loans against property, loans against gold, savings and deposit products and payments solutions. Fincare SFB serves over 11.5 lakh customers through its network of ~500 banking outlets in 129 districts across 9 states and 1 Union Territory.
To learn more about Fincare Small Finance Bank, please visit www.fincarebank.com