The partnership will benefit over 10 million customers of Mahindra Finance by offering a wide range of tailor-made life insurance solutions provided by Kotak Life.
FinTech BizNews Service
Mumbai, June 13, 2024: Kotak Mahindra Life Insurance Company Ltd. (“Kotak Life”) today announced its corporate agency partnership with Mahindra & Mahindra Financial Services Limited (“Mahindra Finance”), one of India’s leading Non-Banking Finance Companies. The partnership will benefit over 10 million customers of Mahindra Finance by offering a wide range of tailor-made life insurance solutions provided by Kotak Life.
The agreement between the two companies was signed by Mahesh Balasubramanian, MD, Kotak Mahindra Life Insurance Company and Raul Rebello, Managing Director & CEO, Mahindra Finance.
Mahesh Balasubramanian, MD, Kotak Mahindra Life Insurance Company Limited, said,
“At Kotak Life, we firmly believe that life insurance is a necessity for every Indian. We are committed to the vision of 'Insurance for All,' as outlined by the IRDAI.
Through our collaboration with Mahindra Finance, our aim is to extend our outreach to the untapped segments of the population. By leveraging on Mahindra Finance’s customer reach and our expertise in life insurance, we can now offer life insurance solutions and provide financial security to customers of Mahindra Finance.”
Raul Rebello, Managing Director & CEO, Mahindra Finance mentioned, “We are delighted to enter into this strategic collaboration with Kotak Life to offer life insurance solutions to our customers. It is a significant step in our commitment to facilitate agile and efficient insurance solutions powered with personalised customer experience. Our aim is to help facilitate sustainable growth while delivering on our commitment towards being a responsible financial solution partner to Emerging India”.
These offerings will be provided by Mahindra Finance through its extensive network of more than 1400 branches spread across all states and UTs over a period of time.
