Mahindra Finance to Give Life Insurance in Partnership with Kotak Life
Mahindra Finance is now entering into a Partnership with Kotak Life to give Life Insurance to the customer base with Mahendra finance customer base crossing over 10 million.
by Damodharan N
Updated Jun 14, 2024
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Mahindra & Mahindra Financial Services Limited (Mahindra Finance) has announced a new partnership with Kotak Mahindra Life Insurance Company Ltd. (Kotak Life) to offer life insurance products to its customers.
This collaboration aims to benefit over 10 million Mahindra Finance customers across India by providing a variety of life insurance solutions from Kotak Life.
Mahindra Finance to give Life Insurance in partnership with Kotak life
- Partnership Goal: To provide life insurance to Mahindra Finance's extensive customer base.
- Customer Reach: Mahindra Finance’s network includes over 1400 branches across all states and union territories which will benefit over 10 million customers.
- Executives' Statements:
- Mahesh Balasubramanian, MD of Kotak Mahindra Life Insurance Company Limited, stated, "At Kotak Life, we believe that life insurance is essential for every individual. Our collaboration with Mahindra Finance will help us reach untapped segments of the population, providing financial security to their customers."
- Raul Rebello, Managing Director & CEO of Mahindra Finance, added, "We are delighted to partner with Kotak Life to offer life insurance solutions to our customers. This collaboration underscores our commitment to delivering agile and efficient insurance solutions with a personalized customer experience."
About Mahindra Finance
Mahindra Finance is a leading non-banking finance company in India, focusing on rural and semi-urban sectors. It has over 10 million customers and manages assets worth over USD 11 billion. The company offers a range of financial services, including vehicle and tractor financing, SME loans, and fixed deposits.
This partnership is part of Mahindra Finance's broader strategy to enhance its service offerings and provide comprehensive financial solutions to its customers.
About Kotak Life
Kotak Mahindra Life Insurance Company Limited is a subsidiary of Kotak Mahindra Bank Limited, known for its wide range of insurance products. It operates many branches across India and has covered millions of people.
For more details, please visit the official announcement here.
Mahindra Finance to give Life Insurance in Partnership with Kotak Life - FAQs
1. Who did Mahindra Finance partner with to offer life insurance?
Mahindra Finance partners with Kotak Life to offer life insurance.
2. How many Mahindra Finance customers will benefit from this partnership?
Over 10 million Mahindra Finance customers will benefit from this scheme.
3. When was the partnership between Mahindra Finance and Kotak Life announced?
The partnership between Mahindra Finance and Kotak Life was announced on June 13, 2024.