New
Delhi, March 19, 2026 : Axis Max Life
Insurance Limited,
formerly known as Max Life Insurance Company Limited (“Axis Max Life”/
“Company”) has entered into a strategic Corporate Agent partnership with Saarathi
Finance and Credit Private Limited (“Saarathi Finance”), a next-generation
greenfield non-banking financial company (NBFC) focused on bridging the credit
gap for India’s Micro, Small, and Medium Enterprises (MSMEs).
By
leveraging Saarathi’s last-mile reach, this partnership will provide Axis Max
Life’s insurance product – Group Credit Life Secure (GCLS) (UIN:
104N072V04), to safeguard the interests of micro and nano-entrepreneurs.
This product will act as a “security shield,” ensuring that in the
event of an unfortunate incident, the debt burden does not fall on the family
or the business.
Sumit
Madan, Managing Director and Chief Executive Officer, Axis Max Life,
said, “Our partnership with Saarathi Finance is a step toward securing the
entrepreneurial heart of India. By combining Saarathi Finance’s seamless
digital-first lending with Axis Max Life’s consistent industry-leading claims
settlement, we are bridging the MSME credit gap with a safety net that makes
protection an accessible reality for thousands of entrepreneurs.
This
partnership strengthens our commitment to fueling growth in India’s vibrant
local markets by merging technological innovation with a deep-rooted
understanding of small business dynamics. By integrating simple, relevant
protection directly into the digital credit journey, we are ensuring that for
every MSME, financial progress remains resilient, safeguarding the livelihoods
of those who power our economy.”
Vivek
Bansal, Founder and Chief Executive Officer, Saarathi Finance,
said, “In India, over 90% of MSMEs operate with thin capital buffers, and a
single disruption can wipe out years of effort. Saarathi Finance is providing
the right credit solutions to support the growth of these MSMEs. The
partnership with Axis Max Life acts as an enabler by providing protection
through embedded insurance into lending that helps turn loans into long-term
security frameworks and remove uncertainties. With this, the businesses can
focus on growth instead of worrying about what might go wrong.”
This
partnership also marks a significant milestone toward the national vision of “Insurance
for All by 2047,” driving financial inclusion for MSMEs across Tier 3
and Tier 4 towns of India. By combining Axis Max Life’s protection expertise
with Saarathi’s focus on the “Bottom of the Pyramid,” the partnership
addresses the critical insurance gap. Through a commitment to long-term value
instead of short-term lending, both entities intend to position financial
protection as an essential enabler for India’s rising entrepreneurs.
About Axis Max Life Insurance Limited
(https://www.axismaxlife.com)
Axis
Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd.,
is a Joint Venture between Max Financial Services Limited (“MFSL”) and Axis
Bank Limited. Axis Max Life offers comprehensive protection and long-term
savings life insurance solutions through its multi-channel distribution,
including agency and third-party distribution partners. It has built its
operations over two decades through a need-based sales process, a
customer-centric approach to engagement and service delivery and trained human
capital. As per annual audited financials for FY2024-25, Axis Max Life has
achieved a gross written premium of INR 33,223 Cr.
IRDAI
Registration. No – 104
Company
Information Number – U74899HR2000PLC143012
About
Saarathi Finance (https://www.saarathifinance.com)
Saarathi
Finance & Credit Pvt Ltd. is an NBFC focused on providing accessible and
tailored credit solutions to MSMEs across semi-urban and rural India. With a
mission to bridge the ₹44 lakh crores credit gap in the MSME sector, Saarathi
combines technological innovation with a deep understanding of local markets to
offer loans that meet the unique needs of small business owners. With a rapidly
growing footprint of 60+ branches across 6 states, Saarathi Finance operates with
the guiding principle: “Aap Akele Nahi Hai”- You are not alone.
For
more information, visit: www.saarathifinance.com
