AU Small Finance Bank and Bajaj Allianz Life Insurance have entered into a strategic partnership that will enable customers of the small finance bank to have access to Bajaj Allianz Life's life insurance products.

AU Small Finance Bank Executive Director Uttam Tibrewal and Bajaj Alliance Life Insurance MD & CEO Tarun Chugh signed the agreement and announced their strategic partnership at an event held in Mumbai today.

"As we expand our financial offerings in the bancassurance segment, our goal was to partner with a life insurance partner that can complement our products and aid customers in financial planning," Tibrewal said.

AU Small Finance Bank aims to leverage technology-based solutions for its customers through life insurance products offered by Bajaj Allianz Life Insurance.

The small finance bank's customers can avail of Bajaj Allianz Life's retail products including term, savings, retirement, and investment products.

Furthermore, the life insurer will also work closely with the Bank to offer seamless service options to the customers, including response on queries using Whatsapp, ChatBot on AU digital platforms, the companies said in a statement.

"This partnership will make our value-packed and innovative life insurance products available to a significantly larger customer base across the 1038 touchpoints of the bank," Chugh said.