Shriram Life Insurance has entered into a strategic partnership with JM Financial Services to broaden access to its life insurance products. The collaboration aims to make Shriram Life’s comprehensive insurance plans more readily available to JM Financial’s customers and equity stakeholders.
This partnership enables customers to explore and secure insurance plans, ensuring a seamless experience through both digital and offline channels.
Casparus J.H. Kromhout, MD & CEO of Shriram Life Insurance, stated, “Ensuring financial security for individuals across all segments of society remains at the core of our purpose. This collaboration with JM Financial Services allows us to broaden our reach, offering tailored protection solutions…. 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… ensuring that we provide holistic solutions like tax-free guaranteed income solutions, long-term investment, retirement/pension plan and family protection.”
Shriram Life Insurance has a significant presence across India, with 403 branches. The company offers a variety of products, including term, endowment, ULIPs, and annuities, catering to both rural and urban middle-class customers. The average premium for non-single individual policies is approximately Rs18,000, and for individual policies, it is around Rs21,000. As of December 2024, Shriram Life’s total Assets Under Management (AUM) equaled Rs12,791 crore, and it has an in-force policyholder base of over 13 lakh.
JM Financial Services, a part of the JM Financial Group, provides stock broking services and a wide range of products, including equity trading, wealth management, and the distribution of other investment products.
