Vakrangee has announced a strategic distribution partnership with Ageas Federal Life Insurance Company, aiming to significantly expand access to life insurance services across India.
With this collaboration, Vakrangee will offer Ageas Federal’s suite of life insurance products through its robust network of 22,986 Vakrangee Kendras located in 32 states, 609 districts, and 5,835 postal codes.
This alliance is positioned to bridge India’s life insurance coverage gap and accelerate the broader goal of financial inclusion. Vakrangee Kendras, which already function as multi-utility service points delivering banking, e-governance, e-commerce, healthcare, and logistics services, will now also serve as insurance facilitation centers.
Vedant Nandwana, Managing Director, Vakrangee, expressed enthusiasm about the partnership, stating, “We are proud to partner with Ageas Federal Life Insurance to extend life protection and financial services across India. Our extensive last-mile distribution network empowers citizens with convenient access to essential insurance products right at their doorstep.”
Echoing this sentiment, Jude Gomes, MD and CEO, Ageas Federal Life Insurance, said, “This strategic distribution partnership with Vakrangee is a testament to our unwavering focus on making life insurance accessible to every Indian. This alliance is a strong step towards realising IRDAI’s Vision of ‘Insurance for All by 2047.”
Vakrangee, established in 1990, has become one of India’s largest last-mile distribution platforms, offering real-time financial services and digital inclusion solutions in rural, semi-urban, and urban areas. Its outlets branded as ‘Vakrangee Kendras’ and the BharatEasy digital platform act as critical access points for essential services.
Ageas Federal Life Insurance, a joint venture between European insurance group Ageas and India’s Federal Bank, has grown rapidly since beginning operations in 2008. The insurer has issued over 19.71 lakh policies with a cumulative sum assured exceeding Rs 27,558 crore and manages assets worth over Rs 18,956 crore, with a capital base of over Rs 800 crore as of March 31, 2025.
The partnership represents a strategic alignment of infrastructure and product, aimed at reaching underserved markets with affordable and seamless insurance solutions.
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