HDFC Life, one of India’s leading life insurance companies, announced a strategic partnership with Muthoot FinCorp Ltd., the flagship company of Muthoot Pappachan Group (Muthoot Blue), headquartered at Thiruvananthapuram, Kerala.
The partnership will enable Muthoot FinCorp Ltd.’s customers access HDFC Life’s comprehensive suite of Group and Individual life insurance solutions including range of protection and long-term savings products to meet their long-term financial goals. These will be offered through Muthoot FinCorp Ltd.’s extensive network of 3750+ branches pan-India as well as through its digital platform.
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Vibha Padalkar and Shaji Varghese
Speaking on this partnership, Vibha Padalkar – Managing Director & CEO, HDFC Life said, “Our partnership with Muthoot FinCorp Ltd. marks an important step towards achieving the industry’s goal of ‘Insurance for All by 2047’. We are committed to offering Muthoot FinCorp Ltd.’s valuable customers, both existing and new, effective life insurance solutions that will enable them to achieve their long-term financial goals. Furthermore, our seamless process integration will ensure teams across Muthoot FinCorp Ltd.’s touchpoints are digitally empowered to make the experience for themselves and their customers a delightful one. Through this partnership, we look forward to expanding the reach of life insurance and driving financial inclusion in the country.”
Mr Shaji Varghese, CEO, Muthoot FinCorp Ltd. said, “We are delighted to join hands with HDFC Life. Muthoot FinCorp Ltd. and HDFC Life are both built on deep customer trust. This partnership is about combining our reach of 3,750+ branches, digital platforms, our relationship depth with millions of customers, and HDFC Life’s product and risk expertise to create meaningful protection for Indian families.”
About Muthoot FinCorp Limited (MFL)
Muthoot FinCorp Limited, the flagship company of 138-year-old business conglomerate Muthoot Pappachan Group, is India’s leading Non-Banking Financial Company (NBFC) with an aim to transform the lives of common man by ensuring their financial wellbeing through an array of varied products and services. The Company today offers more than three dozen products and services through its 3750+ branches across India and aims to serve the underbanked, to be their most trusted financial partner, and ensure financial inclusion of every household in India. Muthoot FinCorp’s long-standing experience, expertise and stronghold in the semi urban and rural areas has enabled the company to provide quick & customized finance options to the masses.
About HDFC Life
Established in 2000, HDFC Life is a leading, listed, long-term life insurance solutions provider in India, offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, Annuity and Health. The Company has over 70 products (individual and group products), including optional riders in its portfolio, catering to a diverse range of customer needs. HDFC Life continues to benefit from its increased presence across the country, having a wide reach with branches and additional distribution touch-points through several new tie-ups and partnerships. The count of distribution partnerships is over 500, comprising banks, NBFCs, MFIs, SFBs, brokers, new ecosystem, partners amongst others. The Company has a strong base of financial consultants. For more information, please visit www.hdfclife.com. You may also connect with us on Facebook, Twitter, YouTube and LinkedIn.