National, August 06, 2024: Capital Small Finance Bank Limited (“Capital SFB”), India’s first Small Finance Bank andEdelweiss Life Insurance announced their strategic partnership in Mumbai. This collaboration will enable Capital Small Finance Bank’s diverse customer base to access Edelweiss Life Insurance‘s comprehensive suite of life insurance products, thereby meeting their need for financial security.
Mr. Sarvjit Singh Samra, MD & CEO, Capital Small Finance Bank said, “We are thrilled to announce our strategic partnership with Edelweiss Life Insurance. As we expand our financial solutions, this tie-up with Edelweiss Life enhances our ability to offer comprehensive and tailored life insurance products to our customers, reinforcing our position as a trusted financial partner. By improving accessibility to quality insurance solutions, we aim to become the primary banker for our middle-income group customers, creating a more secure and prosperous future for them.”
Sumit Rai, MD & CEO, Edelweiss Life Insurance said “We are excited to embark on this journey with Capital Small Finance Bank and will together protect people’s dreams and aspirations. This partnership is grounded in a shared commitment to exceptional customer experience, superior business quality, and highest standards of legal & ethical conduct. This alignment of values will enable us to deliver innovative and reliable solutions to our customers. Institutions like Capital Small Finance Bank, which have a geographical stronghold and understand the pulse of their customers, give us a strategic advantage in bringing innovative products to the market to effectively meet customer needs. We are currently focussed on expanding our footprint across the country and this strategic partnership is a step in that direction.”
Mr. Sarvjit Singh Samra and Mr. Sumit Rai signed the agreement and announced their collaboration at an event in Mumbai today. This arrangement aims to enhance the Bank’s life insurance offerings by providing its customers with access to Edelweiss Life’s digital platform and service touchpoints.
With over two decades of experience in the banking industry, Capital Small Finance Bank has developed a nuanced understanding of its niche market—middle-income segment customers, tailoring its products and services to meet their specific needs. Through this collaboration, Capital Small Finance Bank will leverage its extensive network and customer base to offer Edelweiss Life’s comprehensive suite of life insurance products. This partnership is poised to enhance the customer experience by seamlessly integrating life insurance solutions with their banking services.
About Capital Small Finance Bank:
Capital Small Finance Bank (CAPITAL SFB) is a bank headquartered at Jalandhar, Punjab, India. Capital Small Finance Bank Limited started operations as India’s 1st Small Finance Bank on April 24, 2016 after conversion from Capital Local Area Bank. Prior to conversion to a Small Finance Bank, Capital Local Area Bank was operating as India’s largest local area bank since January 14, 2000. The core strategy of the Bank is to build a retail focused business model basis customer relationship-based banking approach, diversified & secured lending practices with special emphasis on rural and semi urban geographies and Middle-IncomeGroup segment. For more details, log on to www.capitalbank.co.in or email at publicrelations@capitalbank.co.in.
About Edelweiss Life Insurance:
Edelweiss Life Insurance (formerly known as Edelweiss Tokio Life Insurance) established nationwide operations in July 2011 with an immovable focus on protecting people’s dreams and aspirations. The company has been focussed on bringing innovation, simplicity, and a new-age approach to life insurance, aligned with the expectations of the customer today. It has been offering need-based and innovative life insurance solutions to help customers live their #zindagiunlimited. With a customer-centric approach, the company has been operating as a multi-channel distribution business to effectively serve its customers across the country. As of March 2024, the company has 109 branches in 88 major cities.
