Sahaj Insurance Services, a subsidiary of Sahaj Retail under the Kanoria Foundation, on Friday said it has tied up with Life Insurance Corporation of India (LIC) for the distribution of insurance products across rural and semi-urban parts of the country.
Collaboration to reach citizens
Under the collaboration, Sahaj’s assisted digital service network will facilitate access to LIC’s life insurance products and services, enabling citizens to understand, enroll in and manage policies, particularly in areas where insurance awareness has traditionally remained low, a joint statement said. The collaboration is expected to improve awareness, strengthen policy servicing and encourage wider adoption of life insurance, contributing to India’s broader financial inclusion and social security objectives, it added.
License and selling insurance products
Sahaj Insurance Services recently received a corporate agency licence from the Insurance Regulatory and Development Authority of India, allowing it to distribute insurance products across the country. It announced its intension to sell about 10 crore policies in the first year of its operation. The corporate agency claims to operate through a network of around Rs 4.5 lakh digitally enabled rural centres that collectively serve more than 70 crore citizens. The insurance vertical has been created to offer affordable and easy-to-understand products, supported by trained Sahaj agents who assist customers with onboarding, servicing and claims.
Sahaj centres will also facilitate access to government-backed insurance and social security schemes, alongside life and health insurance offerings, as part of efforts to deepen financial inclusion.