Canara HSBC Life Insurance Partners with Equitas SFB for Bancassurance Expansion | BANKING AWARENESS

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Canara HSBC Life Insurance Partners with Equitas Small Finance Bank for Bancassurance Expansion
Canara HSBC Life Insurance Company Limited, a joint venture between Canara Bank and HSBC Insurance, has entered into a strategic bancassurance partnership with Equitas Small Finance Bank (ESFB) to expand the reach of life insurance products through ESFB’s branch network. Under this alliance, Canara HSBC Life will offer a wide range of life protection, savings, annuity, child, and investment-linked insurance plans, leveraging ESFB’s branch-led and phygital banking model. The collaboration aims to strengthen financial inclusion by improving access to insurance services for customers across Tier 1, Tier 2, and Tier 3 locations, particularly underserved segments. This initiative is aligned with the IRDAI’s vision of “Insurance for All by 2047”, supporting the long-term goal of universal insurance coverage. ESFB, headquartered in Chennai, Tamil Nadu, began as a microfinance institution in 2007 and transitioned into a Small Finance Bank in 2016 after receiving a banking licence from the Reserve Bank of India (RBI).

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