Muthoottu Mini Financiers Ltd in Strategic Alliance with Exide Life Insurance Company
Dec 28, 2020
Kochi (Kerala) [India], December 28 (ANI/NewsVoir): Muthoottu Mini Financiers Ltd., one of India's largest Non-Banking Financial Companies (NBFC), has announced a strategic partnership with prominent life insurance company Exide Life Insurance Company Limited, to provide life insurance products through its branches. The tie-up will enable Muthoottu Mini Financiers Ltd. to expand offerings to its customers by becoming a "One Point Stop" for all their financial needs.
Exide Life Insurance Company Limited, an established and profitable life insurance company headquartered in Bengaluru, serves over 15 lakh customers with a wide range of investments products. The strategic partnership will enable Muthoottu Mini Financiers, which has a strong and wide network across the country with more than 30 lakh+ customer base, to facilitate greater brand awareness for Exide Life Insurance Company Limited. Exide Life Insurance Company offers Investment products that suit all sets of people in the society.
"We would be promoting business through our 806 branches across the country. With the strategic alliance now bringing in Exide Life Insurance Company's offerings into our large bouquet of products, we are on the way to becoming a "One Point Stop" for our esteemed customers for all their financial needs," said Mathew Muthoottu, Managing Director, Muthoottu Mini Financiers Ltd.
The strategic partnership between Muthoottu Mini Financiers Ltd. and Exide Life Insurance Company was formally kicked off at a function organised at the Muthoottu Mini Financiers office in Kochi. Apart from Mathew Muthoottu, Muthoottu Mini Financiers Ltd company officials Nizzy Mathew - Chairperson, P E Mathai - COO and Exide Life Insurance Company officials Anandha Padmanabhan - National Head, Branch Channel; Bijoy Dev, National Training Head; Jayadevan P, Branch Channel - Training Head; and Rahul Menon - Head of Sales attended the function. Anandha Padmanabhan and Bijoy Dev attended the function over a Zoom call.
Muthoottu Mini Financiers Limited is a Non-Banking Financial Company (NBFC) founded by the visionary Mathew Muthoottu as the common man's financier in 1921. The business set up by Mathew Muthoottu to fuel a common man's dream with finance at the right time has today grown into a large NBFC (Incorporated in 1998) with 800+ branches across India. The Company has stayed true to its vision while achieving multi-dimensional growth over the years. Easy access Gold Loans and Microfinance form the core business of the company. The wide branch network established over the years and now in states of Kerala, Karnataka, Andhra Pradesh, Telangana, Tamil Nadu, Puducherry, Maharashtra, Goa, Delhi, Uttar Pradesh and Haryana, has made it easily accessible to the common man. To make available a One-Stop experience to its customer, the Company also provides Wealth Management, Money Transfer (Domestic and International), Recharge & Bill Payments, Insurance, and Travel & Tourism Services.
Exide Life Insurance Company Limited, an established and profitable life insurance company, commenced operations in 2001-02 and is headquartered in Bengaluru. The company is 100% owned by Exide Industries Limited. The company serves over 15 lakh customers and manages assets of over INR 15,795 Crores. During the financial year 2019-20, the company achieved Total Premium Income of over INR 3,220 crores. Exide Life Insurance distributes its products through multi-channels viz. Agency, Banc assurance, Corporate Agency & Broking, Direct Channel and Online. The Agency channel comprises of 45,000+ advisors who are attached to over 200 company offices across the country. The company also offers group life insurance solutions. The company is focused on providing long term protection and savings solution plans and has a strong traditional product portfolio with a consistent bonus track record. The company has ISO 9001:2015 quality certification for all Customer Service processes and the ISO/IEC 27001:2013 for information security management.
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