(THE NEWSMAN OF INDIA.COM)
India’s largest life insurance company, Life Insurance Corporation of India (LIC), has entered into a strategic tie-up with AU Small Finance Bank, one of the country’s leading small finance banks, under the Corporate Agency arrangement to boost bancassurance.
The collaboration was officially launched on July 14, 2025, through a joint webcast attended by senior leadership from both organizations. The alliance marks a significant step toward greater financial inclusion and enhancing insurance accessibility, especially in underserved and rural areas where AU Small Finance Bank has a strong presence. Through this partnership, AU Small Finance Bank will distribute LIC’s comprehensive range of life insurance products across its branch network and digital platforms. These offerings include annuity plans, Unit Linked Insurance Plans (ULIPs), term insurance, and savings-oriented policies. This will enable AU Bank customers to conveniently access trusted life insurance and long-term financial planning solutions under one roof. The combined strength of LIC’s over 3,600 branches and satellite offices, along with AU Small Finance Bank’s nearly 2,500 touchpoints, is expected to significantly expand the reach of life insurance across India. The initiative aligns with the national vision of “Insurance for All by 2047.” This partnership reaffirms the shared commitment of both institutions to advancing financial inclusion and delivering high-quality insurance solutions to customers across the country.