VAKRANGEE EXPANDS INSURANCE PORTFOLIO THROUGH TIE-UP WITH INDIAFIRST LIFE INSURANCE
VAKRANGEE · price
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Vakrangee Limited has entered into a strategic corporate partnership with IndiaFirst Life Insurance Company Limited (a Bank of Baroda subsidiary) to distribute life insurance products. The products, including term protection plans, will be offered through Vakrangee's network of Kendras (physical retail outlets) across rural and semi-urban areas, particularly in Tier 4 to Tier 6 markets. This expands Vakrangee's existing insurance portfolio (as an IRDAI-registered corporate agency) and leverages its last-mile distribution network for financial inclusion. IndiaFirst Life serves over 16 million customers with New Business Individual Retail Premium of ₹1,425 crore as of March 2025.
Positive for Vakrangee as this partnership enhances its financial services offering without requiring capital investment, potentially increasing fee income and footfall at Vakrangee Kendras while deepening insurance penetration in underserved regions.