Shriram Life and ESAF SFB Tie-Up for Insurance Inclusion
Why in the news
Shriram Life Insurance Company (SLIC) tied up with ESAF Small Finance Bank to push life insurance to communities that are largely outside the formal net.
Key facts
| Item | Detail |
|---|---|
| Date | July 23, 2025 |
| Partners | Shriram Life Insurance Company and ESAF Small Finance Bank |
| ESAF’s role | Corporate agent |
| Reach | 788 branches and 1,095 customer service centres |
| Target households | Annual income of ₹4-15 lakh |
| Products | Term insurance, endowment plans, ULIPs, annuities |
Objective
- Raise insurance penetration among first-time buyers, low-income families and rural households.
- Offer products that are simple, affordable and relevant.
Exam angle
- Distribution model: corporate agency by a small finance bank.
- Theme: financial inclusion and insurance penetration.