Axis Max Life Insurance Limited has entered into a strategic corporate agent partnership with Saarathi Finance and Credit Private Limited to enhance financial security for India’s micro, small and medium enterprises (MSMEs). Saarathi Finance, a new-age NBFC, focuses on bridging the credit gap for MSMEs, particularly at the grassroots level.
Under the partnership, Axis Max Life will offer its Group Credit Life Secure (GCLS) product to Saarathi’s borrowers. The product is designed to act as a financial safety net, ensuring that in case of unforeseen events, the loan burden does not fall on the borrower’s family or disrupt the business. Axis Max Life MD and CEO Sumit Madan said the collaboration combines digital-first lending with insurance protection to strengthen resilience among small entrepreneurs. Saarathi Finance Founder and CEO Vivek Bansal highlighted that with over 90% of MSMEs operating on thin capital margins, embedded insurance can help convert loans into long-term security frameworks.
The partnership aligns with the national goal of “Insurance for All by 2047” and aims to expand financial inclusion across Tier 3 and Tier 4 markets by addressing the insurance gap among underserved businesses. In Guwahati, the tie-up is expected to benefit a large base of small traders and micro-entrepreneurs who rely on informal or unsecured credit. With growing MSME activity in the region, integrated insurance-backed lending could improve financial stability and boost confidence among local businesses.