NewsVoir
Hyderabad (Telangana) [India], March 4: Shriram Life Insurance, one of India's leading life insurance providers, is pleased to announce a strategic partnership with JM Financial Services. This collaboration aims to enhance the accessibility of life insurance products for JM Financial's customers and equity stakeholders.
This partnership allows Shriram Life to offer its comprehensive range of products, helping customers easily explore and access insurance plans and secure themselves and their families while ensuring a seamless and convenient experience through both digital and offline channels.
Speaking about the partnership, Casparus J.H. Kromhout, MD & CEO, Shriram Life Insurance, said, "Ensuring financial security for individuals across all segments of society remains at the core of our purpose. This collaboration with JM Financial Services [offering diversified solutions to its customers] allows us to broaden our reach, offering tailored protection solutions through a seamless and convenient platform. We are committed to simplifying access to life insurance, empowering customers with robust financial protection, and equipping them with the right tools to secure their future."
Nirav Gandhi, Managing Director and Co-Head, Investment Advisory and Distribution, at JM Financial Services added, "We are delighted to partner with Shriram Life Insurance, a stalwart in the industry. Our collaboration enables us to combine our expertise in trading and investments with Shriram Life Insurance's trusted offerings, ensuring that we provide holistic solutions like tax-free guaranteed income solutions, long-term investment, retirement/pension plan and family protection. We believe this partnership will capitalize on the strengths of both our organizations, and together, we are committed to empowering individuals and families with the financial security and peace of mind they deserve."
Shriram Life Insurance is a reliable name in the industry, with a strong presence across India through 403 branches. The company provides a variety of products including term, endowment, ULIPs, and annuities, catering to both rural and urban middle-class customers with affordable premiums. The average ticket size for non-single individual premium policies is approximately Rs18,000, while individual policies typically have an average ticket size of around Rs21,000. Currently, Shriram Life's total Assets Under Management (AUM) amount to Rs12,791 crore as on December 2024. It has an in-force policyholder base of over 13 lakh.
JM Financial Services (JMFS), a part of the JM Financial Group, is an award-winning full-service stock broking firm catering to individual and institutional investors across the entire capital market spectrum. Our wide range of products include equity trading, wealth management, and distribution of other investment products such as insurance, mutual funds, portfolio management services/alternative investment funds, IPOs, and fixed income products. We have extensive network and well-established distribution channels, which include more than 55 branches, over 860 business affiliates, and more than 14,400 active financial distributors.
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