Hyderabad, Telangana, India
Shriram Life Insurance Company (SLIC) has partnered with ESAF Small Finance Bank to expand the reach of life insurance products to the underserved segments across India. As part of the partnership, ESAF Bank will act as a corporate agent for Shriram Life, distributing its insurance offerings through ESAF’s branch network. The partnership focuses on reaching first-time insurance buyers, low-income families, and rural households.
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(On the Left) K. Paul Thomas, MD and CEO, ESAF Small Finance Bank and (on the right) Casparus J.H. Kromhout, MD and CEO, Shriram Life Insurance
ESAF Small Finance Bank received its banking licence from the Reserve Bank of India in November 2016 and started operations on March 10, 2017. As of June 30, 2025, it operates 788 branches, 713 ATMs, and 1,095 customer service centres across 24 states and two Union Territories, serving a customer base of over 5.6 million with socially responsible banking solutions.
“At Shriram Life, our mission has always been to serve the underserved by making insurance simple, affordable, and truly within reach. We believe protection should not be a privilege, but a basic financial right for every Indian household—no matter where they live or what they earn. That’s why this partnership matters. With ESAF’s strong local presence and our shared commitment, together we can help fulfill the vision of ‘Insurance for All’,” said Casparus J.H. Kromhout, MD and CEO, Shriram Life Insurance.
“This partnership strengthens our mission of serving the underserved by providing essential insurance solutions that promote financial security and resilience. Together, we’re committed to building a more inclusive and empowered future for our communities,” said K. Paul Thomas, MD and CEO, ESAF Small Finance Bank.
This partnership supports both companies’ efforts to promote financial inclusion by offering simple, relevant, and accessible protection to those who need it most.
