Utkarsh Small Finance Bank Limited has entered into a strategic partnership with Kotak Mahindra Life Insurance Company Ltd to expand its life insurance offerings across its network.
Announced in Mumbai on 25 February 2026, the collaboration will integrate Kotak Life’s products across Utkarsh SFBL’s 1,105 banking outlets in 27 states and union territories. The bank serves 51.4 lakh customers.
Under the arrangement, customers will have access to a range of life insurance products provided by Kotak Life, including protection, savings, unit-linked and retirement plans.
Speaking on the partnership, Mr. Govind Singh, Managing Director & CEO, Utkarsh Small Finance Bank Limited, said: “This partnership reinforces our commitment to delivering holistic financial solutions to our customers. By collaborating with Kotak Life Insurance, we are creating a robust platform that offers access to a wide array of Life Insurance products from leading insurers. This enables our customers to choose solutions that are best suited to their individual needs, preferences and life stages, while enhancing financial security that best suits their unique needs and financial goals”.
Mr. Mahesh Balasubramanian, Managing Director, Kotak Mahindra Life Insurance Company Limited, said, "At Kotak Life, we firmly believe that life insurance is a necessity for every Indian. We are committed to IRDAI's vision of 'Insurance for All' and our collaboration with Utkarsh Small Finance Bank is a step in that direction. Through this partnership, we aim to extend our reach to untapped segments of the population by leveraging the bank's customer network and our life insurance expertise to provide financial security to Utkarsh SFBL's customers."
The products will be distributed through branches, internet banking, mobile banking, UPI and assisted-digital platforms.
Kotak Life said it currently covers over five crore active lives.
