New Delhi. : Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Limited (“Axis Max Life”/ “Company”) has entered into a strategic Corporate Agent partnership with Saarathi Finance and Credit Private Limited (“Saarathi Finance”), a next-generation greenfield non-banking financial company (NBFC) focused on bridging the credit gap for India’s Micro, Small, and Medium Enterprises (MSMEs).
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Axis Max Life and Saarathi Finance Announce Strategic Partnership to Strengthen Financial Security for India’s MSMEs
By leveraging Saarathi’s last-mile reach, this partnership will provide Axis Max Life’s insurance product – Group Credit Life Secure (GCLS) (UIN: 104N072V04), to safeguard the interests of micro and nano-entrepreneurs. This product will act as a “security shield,” ensuring that in the event of an unfortunate incident, the debt burden does not fall on the family or the business.
Sumit Madan, Managing Director and Chief Executive Officer, Axis Max Life, said, “Our partnership with Saarathi Finance is a step toward securing the entrepreneurial heart of India. By combining Saarathi Finance’s seamless digital-first lending with Axis Max Life’s consistent industry-leading claims settlement, we are bridging the MSME credit gap with a safety net that makes protection an accessible reality for thousands of entrepreneurs. This partnership strengthens our commitment to fueling growth in India’s vibrant local markets by merging technological innovation with a deep-rooted understanding of small business dynamics. By integrating simple, relevant protection directly into the digital credit journey, we are ensuring that for every MSME, financial progress remains resilient, safeguarding the livelihoods of those who power our economy.”
Vivek Bansal, Founder and Chief Executive Officer, Saarathi Finance, said, “In India, over 90% of MSMEs operate with thin capital buffers, and a single disruption can wipe out years of effort. Saarathi Finance is providing the right credit solutions to support the growth of these MSMEs. The partnership with Axis Max Life acts as an enabler by providing protection through embedded insurance into lending that helps turn loans into long-term security frameworks and remove uncertainties. With this, the businesses can focus on growth instead of worrying about what might go wrong.”
This partnership also marks a significant milestone toward the national vision of “Insurance for All by 2047,” driving financial inclusion for MSMEs across Tier 3 and Tier 4 towns of India. By combining Axis Max Life’s protection expertise with Saarathi’s focus on the “Bottom of the Pyramid,” the partnership addresses the critical insurance gap. Through a commitment to long‑term value instead of short‑term lending, both entities intend to position financial protection as an essential enabler for India’s rising entrepreneurs.
