SBI Life Insurance Company Limited is one of the leading Life Insurance companies in India. It is a joint venture between India’s largest bank State Bank of India and the leading global insurance company BNP Paribas Cardif.
|COMPANY TYPE||Private Ltd|
|Managing Director & CEO||Mr. Mahesh Kumar Sharma|
|Foreign Partner||BNP Paribas Cardif - the leading global Insurance Company SBI – India’s Largest Bank|
|Contact Details||Toll-free : 1800 267 9090 Phone : 022-61910000 Website : www.sbilife.co.in Mail : email@example.com SMS : Type “<keyword>” to 56161|
|Latest Claim Settlement Ratio||97.04% (FY 2019-20)|
|New Business Premium||165.92 billion (FY 2019-20)|
|Asset Under Management||1,603.63 billion as on March 31st 2020|
|Solvency Ratio||195% as on 31st MAR 2020|
|Vision||To be the most trusted and preferred life insurance provider|
|Mission||To emerge as the leading company offering a comprehensive range of life insurance and pension products at competitive prices, ensuring high standards of customer satisfaction and world class operating efficiency thereby becoming a model life insurance company in India in the post liberalization period|
|Year of start||2001|
|IRDAI registration No||111|
|Corporate Office||SBI Life Insurance Company Limited “Natraj”, M. V. Road & Western Express Highway Junction, Andheri (East), Mumbai – 400 069.|
|Banking Partner||1) State Bank of India 2) Indian Bank 3) The South Indian Bank 4) UCO Bank 5) Yes Bank|
1) SBI Life – e-Shield
2) SBI Life – Poorna Suraksha
3) SBI Life Smart Platina Assure
4) SBI Life – Smart Wealth Builder
5) SBI Life – Smart Champ Insurance
6) SBI Life – Smart Money Back Gold
7) SBI Life – Retire Smart
|Awards & Recognitions||
1) SBI Life Insurance wins the Gold Award under the category ‘Life Insurance Provider of the year 2019’
2) SBI Life Insurance wins the VCCircle Award for 2020 under the category ‘Financial Services Company of the Year’
3) India’s Leading Life Insurance Company – Private at the BFSI Summit & Awards by Dun & Bradstreet.
|Social Media Links||
Twitter : twitter.com/sbilife
Facebook : facebook.com/Sbilifeinsurance
Instagram : Instagram.com/sbilifeinsurance
You Tube : youtube.com/user/sbilifeinsurance
ABOUT SBI LIFE
The company provide a comprehensive range of savings and protection products to individual and group customers across traditional and unit-linked plans, covering about 8.9 million lives in FY20.
Their products are available in the life, pension, annuity and health segments. The products are centered around the existing as well as emerging needs of their customers.
The products cater to customers across different age groups and income levels. Products available online include life e-Shield, e-Wealth Insurance, Smart Platina Assure, Poorna Suraksha and Annuity Plus.
In the past 20 years at SBI Life, they strengthened their leadership position in the private life insurance space by nurturing their time-based, mutually beneficial relationships.
Their bancassurance channel is one of their crucial growth levers, comprising the branch network of their parent, State Bank of India, as well as other local and national public and private banks. Their distribution network is further strengthened with one of the best agency networks and other Specified Persons.
PHILOSOPHY OF SBI LIFE
SBI Life Insurance company’s philosophy is based on the five core values of trustworthiness, ambition, innovation, dynamism and excellence.
They strive to provide best-in-class services to their customers while ensuring utmost commitment to ethical standards, professional integrity, corporate governance and regulatory compliance.
OPERATIONS OF SBI LIFE
The trust and support of their customers, business partners, employees and other key stakeholders has enabled us to build a strong foundation on which we aspire to propel our future.
In the 2019-20 financial year SBI Life Insurance’s Gross Written Premium is increased by 23%, Rs.406.35 billion, New Business Premium is 165.92 billion and Assed Under Management by the company is 1,603.63 billion.
The company has a strong distribution network of 16,759 employees across 937 offices, 63 corporate agents, 15 Bancassurance partners, 102 brokers, 186,495 trained insurance personnel and more than 23,500 SBI Banca branches.
STATE BANK OF INDIA
State Bank of India is India’s Largest and leading Public sector bank. The Group has an unrivalled strength of over 23,000 branches across the country, making it the largest group in India. with 198 foreign offices in 37 countries, SBI is truly an Indian multinational bank. It also features in the Fortune Globe 500 list of the world’s biggest corporations.
The Bank is actively involved since 1973 in non-profit activity called community services banking. All the branches and administrative offices throughout the country sponsor and participate in large number of welfare activities and social causes. Their business is more than banking because they touch the lives of people anywhere in many ways.
VISION AND MISSION OF SBI LIFE
SBI’s vision is “To be the Bank od Choice for a Transforming India” and the mission is “Committed to Providing Simple, Responsive and Innovative Financial Solutions. The commitment of the bank is to “nation-building is complete & Comprehensive. SBI has a strong value of Service, Transparency, Ethics, Politeness, Sustainability.
BNP Paribas Group is a leading Europe bank with a strong global footprint across 71 markets and more than 198,000 employees. The group provides corporates, institutional and private investors with product and service solutions tailored to their specific needs.
It offers a wide range of financial services covering corporate & Institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer financing through strategic partnerships.
Asia Pacific is a key strategic region for BNP Paribas and it continues to develop its franchise in the region. Currently with a presence in 13 markets and over 18,000+ employees, BNP Paribas is one of the best-positioned international financial institution with an uninterrupted presence since 1860.
BNP Paribas in India was the second foreign bank to establish with operations in Kolkata. Today, BNP Paribas is among the leading corporate banks in India.
This uninterrupted, 160-year old association has given BNP Paribas an unparalleled experience of the Indian economy as it has witnessed the country’s growth at close quarters. Currently the bank has branches in eight major cities – Mumbai, Delhi, Kolkata, Chennai, Hyderabad, Bangalore, Ahmedabad and Pune.
SBI Life Insurance has been expanding their reach prudently by increasing their physical presence, complemented by their best-in-class digital platforms to deliver products and solutions to the remote corners.
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