February 21, 2025

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HDFC Life And SATYA Microcapital Ltd. Collaborate To Strengthen Financial Inclusion With Life Insurance.

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Bengaluru, 29th of January, 2025 : HDFC Life is delighted being the preferred life insurance partner of SATYA MicroCapital Ltd. which will help in improving access to life insurance in underserved areas. This collaboration underscores the importance of partnerships in addressing the financial security needs of diverse population and expanding access to life insurance in regions where it is most needed.

SATYA MicroCapital Limited operates across 26 states and nearly 350 districts with a network of over 830 branches. The organisation has been working towards bridging the financial inclusion gap by supporting a significant number of rural women entrepreneurs and fostering local economies. The partnership seeks to build on SATYA’s existing efforts by introducing life insurance as an additional layer of financial security.

HDFC Life brings a diverse portfolio of products designed to meet the needs of individuals across different demographics, along with a proven record of delivering on its promises, as reflected in a claim settlement ratio of 99.50% for FY24.  The partnership aims to align these strengths with SATYA’s grassroots presence and technology-driven approach to reach previously untapped communities.

Sharing his views on the collaboration, Vivek Tiwari – MD & CEO, SATYA MicroCapital Limited, stated, “We are extremely ecstatic to partner with HDFC Life, which marks a significant milestone in our commitment to empowering women entrepreneurs across India. By integrating life insurance services into our offerings, we not only enhance the financial security of our clients but also provide them with the tools they need to thrive on their entrepreneurial journeys. This collaboration reflects our unwavering commitment to supporting women in achieving their dreams while ensuring their families are protected. Together with HDFC Life, we aim to create a robust ecosystem that fosters growth, resilience, and sustainability for every woman entrepreneur we serve.”

Commenting on the collaboration, Vineet Arora – Chief Business Officer – Distribution, Data & Technology, HDFC Life, commented “This partnership reflects our shared vision of extending financial security to more people across India. SATYA MicroCapital’s work in promoting financial independence and inclusion aligns closely with HDFC Life’s mission to make insurance accessible to all. Together, we aim to take meaningful steps towards achieving the broader goal of ‘Insurance for All by 2047’.”

About HDFC Life

Founded in 2000, HDFC Life Insurance Company Limited (‘HDFC Life’ or the ‘Company’) is a leading provider of long-term life insurance solutions in India. It offers a broad range of individual and group plans across the Protection, Pension, Savings, Investment, Annuity, and Health categories, with a portfolio of products and optional riders designed to meet the diverse needs of its customers.

HDFC Life is a subsidiary of HDFC Bank Limited, one of India’s leading private banks. The Company has a nationwide presence, operating through its own branches and a network of over 300 distribution partners, including banks, NBFCs, MFIs, SFBs, brokers, and emerging ecosystem partners. HDFC Life also maintains a strong base of financial consultants.

Recognised as a great place to work, HDFC Life is deeply committed to governance and sustainability, ensuring responsible business practices that align with its long-term objectives.

For more information, visit www.hdfclife.com or follow us on Facebook, X (formerly Twitter), YouTube, and LinkedIn.

About SATYA MicroCapital Limited:

Established in October 2016, and headquartered in the capital city of New Delhi, SATYA initiated the course of its operational journey in January 2017. With the foremost and fundamental goal of empowering rural women, both digitally and financially, SATYA has come a long way since its incorporation. Since then, the company has registered impressive growth by achieving an Assets Under Management (AUM) value of nearly Rs. 6,000 crores, thus emerging as one of the fastest growing Technology driven Finance Institutions in the country. The organization’s firm belief in modern technology and its potential to increase efficiency, reduce risks, and enhance overall customer experience is apparent in its adoption of the most cutting-edge innovations to power its operations. SATYA has established its terrestrial footprints via an operational network of 830+ branches in nearly 61,200 villages across 26 states.

At present, SATYA is furnishing its affordable micro credit services to almost 16 Lac women entrepreneurs from rural and semi-urban areas who are excluded from traditional banking channels. SATYA is integrally concentrated towards building their financial capacity and ability to grow to financial self-sufficiency. The taskforce of more than 8500 employees are playing an intrinsic role in SATYA’s ongoing growth trajectory. In addition to yielding financial aid to unbanked sections of the population, SATYA MicroCapital consistently associates with institutions of the same wavelength to disseminate the importance of digital and financial literacy in rural areas.

Driven by the visionary leadership of Mr. Vivek Tiwari (MD & CEO), SATYA comprises a team with extensive experience in scaling up microfinance programs across underserved regions. Backed by investors and partners dedicated to sustainable ventures, SATYA stands out for its transformative vision and technical expertise. Its goal is not just financial inclusion but creating a lasting social impact through community development and financial literacy programs.

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