AU SFB inks pact with Niva Bupa Health Insurance Company

This collaboration builds upon Niva Bupa's existing relationship with Fincare Small Finance Bank, which has now merged with AU SFB, and introduces a refreshed business proposition aimed at enhancing customer offerings.

Through this partnership, both new and existing customers of AU SFB, including those from former Fincare SFB branches, will gain access to Niva Bupa's extensive range of retail and group health insurance products. This includes plans for health, personal accidents, and critical illnesses, available across AU SFB's 2,414 touchpoints in India.

The said partnership is aimed to enable AU SFB to create affordable and transparent value proposition through technology and service modules.

Leveraging Niva Bupa's network of 210 physical branches across 22 states and 4 union territories, along with AU SFB's distribution reach across India, both entities will collaborate to provide personalized and customerfirst health insurance solutions, it added.

Uttam Tibrewal, executive director and deputy CEO, AU Small Finance Bank said, 'At AU Small Finance Bank, we put our customers first. Our unwavering commitment is to empower them with choice, flexibility, and tailored solutions that meet their individual needs and help them achieve their goals.

By forging an alliance with Niva Bupa Health Insurance Company, we will strengthen our branch banking value proposition through embedded and personalized health insurance solutions that will elevate the well-being of our valued customers. At AU SFB, we are building an integrated health eco-system for our customer so that they can avail various benefits, services and faster claims.'

Krishnan Ramachandran, MD & CEO, Niva Bupa Health Insurance Company, said, 'To realise the vision of 'Insurance for All by 2047', we must focus on distribution and ensure that we reach out to every individual in the country. Our partnership with AU Small Finance Bank will help us expand our distribution reach and offer comprehensive health insurance solutions to their customer base.'

AU Small Finance Bank (AU SFB/AU) is a scheduled commercial bank, a Fortune India 500 Company and the largest Small Finance Bank in the country.

The company's consolidated net profit jumped 29.9% to Rs 502.57 in Q1 FY25 as against 386.90 crore posted in Q1 FY24. Total income surged 55.6% YoY to Rs 4,314.70 crore for the quarter ended 30 June 2024.

Shares of AU Small Finance Bank slipped 2.03% to currently trade at Rs 737.15 on the BSE.