Collaborates with United Way Mumbai to support the women entrepreneurs; Bharti AXA Life’s brand ambassador Vidya Balan pays an ode to women and the company’s efforts to empower women
Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, announced it has launched an initiative aimed at nurturing female entrepreneurs and equipping them with resources to start or grow their own business.
To implement this, Bharti AXA Life has partnered with United Way Mumbai, a non-profit organization to promote entrepreneurship among women. While many women possess the skill to start and manage their own business, they often lack the necessary tools or resources. Bharti AXA Life will bridge this gap by supporting women with the requisite material & equipment required for their business.
The initiative is backed by the insight that due to the pandemic, an estimated 400 million informal sector workers are at risk of abject poverty in India as per a report by The International Labour Organization (ILO 2020). Women are likely to bear the brunt of job losses the most because much of their work is invisible, and they are more likely to work in informal work arrangements. Moreover, the significant and widening gender gaps in workforce participation rates, employment and wages that existed before the lockdown are expected to have intensified during the post-lockdown period.
Commenting on the initiatives, Parag Raja, MD & CEO, Bharti AXA Life Insurance, said: “The nationwide lockdowns over the last two years halted most economic activities, impacting the revenue streams of daily wage earners of self-employed women. Further, low female labour force participation continues to remain a challenge in India. Through our initiative, we aim to champion women entrepreneurship and support them in generating an independent source of income for themselves and their families. We also continue to advocate for education & awareness among women when it comes to financial planning and the need for investing in life insurance to secure their futures. Our social media initiatives this month will equip women with the right knowledge to make prudent choices when it comes to financial investments and insurance.”
Bharti AXA Life has recently roped in Vidya Balan as its brand ambassador. Vidya Balan embodies the core values of Bharti AXA Life Insurance and will help the company deepen its narrative of #DoTheSmartThing.
Commenting on the initiatives implemented by Bharti AXA Life, Vidya Balan said, “I have always believed that it is important to champion representation of women across fields and challenge stereotypes. Women are constantly negotiating space across different facets of life and have truly emerged trailblazers. I am excited to work with a brand that has always been committed to empowering women, and it is heartening to see how Bharti AXA Life endeavors to provide opportunities to women across communities. Over the years, it has made also strides in advocating for awareness around financial security for women and safeguarding their future through its initiatives”.
Bharti AXA Life insurance is Great Place To Work® certified and continues its efforts towards being an employer of choice for all work profiles irrespective of gender, age, and socio-economic backgrounds.