Karur Vysya Bank, Kshema General Insurance announce strategic alliance

Karur Vysya Bank (KVB) and Kshema General Insurance Ltd have announced a strategic bancassurance alliance to offer a specially designed dual-benefit insurance product—Kshema Kisan Sathi—to India’s rural and agri-focused communities.

 

The collaboration brings together KVB’s stronghold in rural and semi-urban banking and Kshema’s technology-driven insurance solutions to empower millions of customers with a holistic financial protection offering, the companies said. The partnership underscores KVB’s long-standing commitment to the development of India’s rural economy. With a legacy of over 109 years, Karur Vysya Bank has continually evolved to meet the growing needs of its customer base while remaining deeply rooted in trust and service.

 

 

The companies said the collaboration marks a seminal change in India’s bancassurance landscape through a strategic alliance and a product tailored for the agricultural community. This joint initiative by two regulated private entities is more than just a partnership—it is a mission to empower, insure, and uplift the agri and rural economy by leveraging Kshema’s tech stack and KVB’s rural customer base for large-scale outreach. Kshema aims to act as the shield of the rural economy by providing not just insurance, but tools for proactive resilience, preparedness, and sustainability.

 

‘Delivering peace of mind to rural India’

 

Speaking on the alliance, Ramesh Babu, Managing Director and CEO, Karur Vysya Bank, said: “As a bank deeply embedded in India’s rural landscape, we understand the challenges our customers face in their day-to-day lives. With Kshema Kisan Sathi, we are not just offering an insurance product; we are delivering peace of mind. This partnership reflects our commitment to build meaningful financial ecosystems that support sustainable livelihoods. It is aligned with our long-term vision to create a resilient, secure, and self-reliant rural economy through inclusive banking and value-added offerings.”

 

Commenting on the alliance, Natraj Nukala, Chairman, Kshema General Insurance Ltd, said: “This pioneering bancassurance product offers dual protection of livelihood and family by combining crop insurance and personal accident insurance for valued customers of KVB. Kshema Kisan Sathi was designed to achieve the twin objectives of enabling financial security, stability, and self-sufficiency for millions of rural families and agri-entrepreneurs while boosting the rural economy. This exclusive product is the keystone in Kshema’s plan of building a data-driven rural ecosystem intelligence using financial and insurance insights, while deploying tech-forward innovations like satellite imaging to build predictive, preventive, and proactive solutions.”

 

Aligned with ‘Insurance for All’ by 2047

 

The partnership also aligns with recent policy directions from the government and IRDAI to expand insurance access across Tier-II and Tier-III towns, and complements national efforts to achieve ‘Insurance for All’ by 2047. KVB’s leadership in trusted financial intermediation, combined with its customer-first approach, positions it uniquely to drive this agenda forward. Kshema General Insurance Ltd brings to the table deep capabilities in AI-powered risk assessment, satellite imaging, and real-time data modelling to create proactive and predictive insurance offerings. Kshema’s technology platform enables precision underwriting and claims management, ensuring speed, transparency, and personalisation for rural consumers.

 

This alliance between KVB and Kshema is not just a commercial tie-up but a shared mission to strengthen the backbone of India’s economy—its farmers and rural entrepreneurs—by offering them protection, stability, and the confidence to grow.