HDFC Life, India’s leading insurer, has partnered with Aavas Financiers Ltd., one of the country’s top housing finance firms, to form a strategic corporate agency alliance. Under the partnership, Aavas’ customers will gain access to a broad range of HDFC Life’s insurance products, including comprehensive coverage for housing loans and loans against property. The products will include pure financial protection, as well as long-term savings solutions for various life stages, such as a child’s education, retirement, and critical illness coverage.
In FY 2023, HDFC Life secured over 68 million lives and boasted an overall claim settlement ratio of 99.7%. With a focus on innovative products and customer-centricity, HDFC Life provides best in class servicing, supported with a superior digital platform.
Suresh Badami, Deputy Managing Director, HDFC Life, said, This partnership will further strengthen our distribution and enable us to reach out to more individuals and secure them financially. We look forward to working together with Aavas for the benefit of their customers.
The managing director and CEO of Aavas, Sachinder Bhinder, added, With our digital synergy and real-time API integration, we are well-equipped to provide the best services to customers. This collaboration extends our customers more than just credit life policy; delivering unparalleled customer experience. Together, we envision a future where our combined efforts create a positive and lasting impact on the lives of our customers, empowering them to achieve their financial goals with confidence.
As a leading housing finance company, Aavas provides home loans in rural and semi-urban areas throughout India. The company’s operations include housing loans, mainly in the unserved, unreached, and underserved markets. Aavas covers states such as Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Haryana, Uttar Pradesh, Chhattisgarh, Uttarakhand, Punjab, Himachal Pradesh, Delhi, Odisha, and Karnataka. Presently, Aavas has 346 branches operating in 13 states of India.
The partnership between HDFC Life and Aavas Financiers Ltd is poised to change the way financial solutions are offered to their customers. By combining their strengths and resources, they can cater to the evolving needs of their customers, creating a long-lasting alliance that impacts the lives of their cherished customers positively.
