Bajaj Allianz Life and Satin Creditcare announce partnership to boost life insurance accessibility in rural areas in association with Coverfox

Private life insurers Bajaj Allianz Life and non-banking finance corporation - micro finance institution (NBFC-MFI) Satin Creditcare Network Limited, has announced their strategic partnership on Tuesday with insurance broker Coverfox, playing a pivotal role in enabling this collaboration. The companies signed the agreement and committed to work together to improve financial inclusion in rural India. 

Through this strategic partnership, customers of Satin Creditcare will be able to secure their loans with Bajaj Allianz Life’s insurance plans across its 1,386 branches in the country — thereby providing customers with peace of mind and their family’s financial security in case of any unfortunate incident. It will leverage Coverfox’s tech infrastructure for of insurance buying, selling and servicing, digitally.

Speaking about the partnership, Dheeraj Sehgal, Chief Distribution Officer, Institutional, Bajaj Allianz Life, stated, "The collaboration between Bajaj Allianz Life, Satin Creditcare, proficiently supported by Coverfox, is dedicated to providing financial security and enabling customers to pursue their goals with complete ease. Our aim is to assure and empower customers with the essential cover, ensuring that their families' life goals remain on track in case of any unfortunate event."

Expressing his pleasure about the collaboration, HP Singh, Chairman cum Managing Director of Satin Creditcare Network Ltd, said, "We are ecstatic to announce our partnership with Bajaj Allianz Life and Coverfox as this marks the beginning of a transformative journey centred around our customers’ interests at heart. In our ongoing mission to provide holistic financial solutions that empower and extend a shield of protection to our family of over 3 million, we are confident that this alliance will offer comprehensive security, enabling our clients to navigate life's uncertainties with confidence and resilience. Together, we are poised to redefine industry standards and set new benchmarks in customer-centric innovation.”

Seconding this, Sanjib Jha, CEO of Coverfox Group of Companies, said, "Bajaj Allianz Life, Coverfox and Satin Creditcare's partnership aims to empower customers in rural and remote areas of the country. It is important to provide them with financial risk coverage with ease of onboarding and interaction facilitated by technology. We are pleased to support the endeavors of these two companies with our tech and be a part of their mission to increase financial inclusion across the country. We believe that this partnership will not only strengthen our individual positions in the market but also foster innovation and growth within our micro-finance industry. We see tremendous potential in joining forces with Bajaj Allianz Life and Satin Creditcare. Together, we aim to deliver unparalleled value to our customers”.