Axis Max Life Insurance Limited enters a strategic corporate agent partnership with Saarathi Finance and Credit Private Limited to integrate Group Credit Life Secure insurance (UIN: 104N072V04) into MSME lending frameworks. The collaboration addresses the Rs 44 lakh crore credit gap in India’s MSME sector by embedding protection solutions that safeguard micro and nano entrepreneurs against unforeseen events.
Saarathi Finance, a greenfield NBFC focused on semi-urban and rural markets, leverages its 60+ branch network across 6 states to distribute the insurance product alongside tailored credit solutions. Group Credit Life Secure acts as a security shield, ensuring loan repayment does not burden families or businesses in case of the borrower’s demise.
Sumit Madan, Managing Director and CEO of Axis Max Life, highlights the partnership’s role in bridging MSME credit gaps through digital-first lending combined with industry-leading claims settlement. Vivek Bansal, Founder and CEO of Saarathi Finance, notes that embedded insurance transforms loans into long-term security frameworks, allowing businesses to prioritise growth over uncertainty.
The alliance advances India’s Insurance for All by 2047 vision, targeting Tier 3 and Tier 4 towns where 90% of MSMEs operate with thin capital buffers. Axis Max Life’s FY24-25 gross written premium of Rs 33,223 crore supports scalable protection delivery through Saarathi’s last-mile reach.
Axis Max Life and Saarathi Finance Partner to Enhance MSME Financial Security
