Axis Max Life, Muthoot Microfin Partner to Expand Life Insurance Access in Tier 2 and Tier 3 Markets
Chennai: Axis Max Life Insurance Limited has entered into a strategic partnership with Muthoot Microfin Limited to expand life insurance penetration across India’s Tier 2 and Tier 3 markets, with a focus on underserved households.
Under the collaboration, Axis Max Life will leverage Muthoot Microfin’s extensive microfinance network to offer protection solutions integrated into the credit lifecycle, aiming to safeguard borrowers and their families from financial risks.
The partnership will initially focus on micro insurance and group credit life products designed to cover loan liabilities. The companies also plan to introduce additional offerings such as guaranteed income and savings-linked protection products in the future.
Both organisations said they will emphasise vernacular communication and on-ground training to improve awareness and adoption of insurance solutions in remote and semi-urban regions, contributing to broader financial inclusion efforts.
