HDFC Life, one of India’s leading life insurers, has entered a strategic Corporate Agency tie-up with CARS24 Financial Services Pvt. Ltd., a professionally managed NBFC and part of the renowned CARS24 group. This partnership marks a significant step towards making life insurance more accessible to India’s burgeoning online consumer base.
INSURE24: A New Era in Digital Insurance
CARS24 Financial Services’ flagship initiative, INSURE24, aims to revolutionize the digital insurance landscape. With HDFC Life’s extensive range of 70 products and an impressive claim settlement ratio of 99.50%, the partnership will enable CARS24 to distribute these life insurance solutions across its network of 280 branches and digital platforms. Together, the entities are aligned with the nation’s vision of achieving ‘Insurance for All by 2047.’
Leadership Insights
Vineet Arora, Chief Business Officer of HDFC Life, emphasized the importance of financial security, stating, “This collaboration with CARS24 Financial Services enables us to extend life insurance solutions to a broader audience. Combining innovation and technology, we aim to empower individuals and secure their financial future.”
Vikram Singh Pathania, Vice President of Consumer Finance at CARS24 and Head of INSURE24, expressed his excitement, “Partnering with HDFC Life allows us to elevate our offerings and simplify insurance access for all. Their expertise in product innovation and digital integration aligns seamlessly with our vision.”
A Vision for Financial Empowerment
This alliance not only strengthens the reach of life insurance solutions but also underscores the shared commitment to financial inclusion and innovation. Together, HDFC Life and CARS24 are poised to create a transformative impact in the insurance and digital finance ecosystem.
