SBI Life Insurance Company Limited (SBI Life), incorporated in the year 2000, established as joint venture between State Bank of India and BNP Paribas Cardif S.A. and is one of the leading life Insurance companies in India. SBI Life has a multi-channel distribution network comprising of an expansive Bancassurance channel with SBI, which has an unrivalled strength of many branches across the country. SBI Life also has a large and productive agent network. The Company’s other distribution channels include direct sales and sales through corporate agents, brokers, insurance marketing firms and other intermediaries. The Company is listed on National Stock Exchange (NSE) and The Bombay Stock Exchange (BSE).

Business area of the company

SBI Life offers a comprehensive range of life insurance and pension products at competitive prices, ensuring high standards of customer service and world class operating efficiency. The Company offers individual and group products which include savings and protection plans to address the insurance needs of diverse customer segments.

Products

SBI Life has a wide range of products catering to various customer needs in the life, health, pension & micro-insurance segments. These products are customer centric, simple to understand and have competitive features. The products include Individual Life Insurance Plans and Group Insurance Plans.

Awards

2016: Outlook Money Awards 2016
2016: CLO Chief Learning Officer Summit India - 2016
2016: LIMRA and LOMA Social Media Silver Bowl Awards 2016
2016: CLO Chief Learning Officer Summit India - 2016
2016: Life Insurance Company of the Year
2016: Bancassurance Leader Life Insurance
2017: Skoch Resilient India awards 2017
2017: DSCI Excellence Awards 2017
2017: CTO Leadership Award 2017
2017: Digital Innovation Award 2017
2017: TISS Leapvault CLO Awards 2017
2017: Fintelekt Insurance Awards 2017 -Data Analytics Initiative of the Year (Overall Award Across Life, General, Health)
2017: Fintelekt Insurance Awards 2017 -Bancassurance Leader, Life Insurance (Large Companies Category)
2017: Fintelekt Insurance Awards 2017 - Private Sector Life Insurance Company of the Year (Large Category)
2017: Brand of the Year 2016-17
2018: TISS Leapvault CLO Awards 2018
2018: 30th Qualtech Prize 2018
2018: Risk & Insurance Management Society (RIMS), USA 2018
2018: Golden Peacock Award for Risk Management 2018
2019: Indian Television BrandVid Awards 2019
2019: Foxglove Awards 2019
2019: ICC Emerging Asia Insurance Conclave & Awards 2019
2019: SMART Award-Life Insurance in Large Category
2019: Gold Shield from ICAI for FY 2018-19
2020: India's Leading Life Insurance Company - Private
2020: Financial Services Company of the Year
2020: Life Insurance Provider of the Year

Milestones

2000: Startup Information (Important Events of Financial Year 2000-01)
2000: SBI Life Insurance Co. Ltd. incorporated under Companies Act,1956 on October 11, 2000 Joint Venture agreement signed with BNP Cardif on February 27, 2001.
2001: Actual Commencement of Business
2002: Launch of Bancassurance Channel
2004: Launch of Unit Linked Product
2005: First new generation Private Life Insurance Company to make profit for the year at Rs 2.03 crore
2007: Wipes of entire accumulated loss, GWP (Gross Written Premium) benchmark of Rs 5000 crore achieved
2009: GWP (Gross Written Premium) crosses Rs 10,000 crore benchmark
2010: Number of branches exceeded 500 branches
2011: Profits cross Rs 500 crore
2012: Assets under Management cross Rs 50,000 crore
2014: Declaration of higher Dividend
2015: GWP (Gross Written Premium) crosses milestone of 15,000 crore - Rs 15825 crore
2016: Renewal Premium Collection crosses milestone of Rs 10,000 crore - Rs 10,871 crore
2017: Assets under Management cross Rs 1,00,000 crore
2018: SBI Life got listed on BSE and NSE
2018: Total Asset under Management (AuMs) of the Company crossed Rs 1 trillion
2018: The Company clocked in profit after tax of Rs 10 billion
2019: The Company crossed the Rs 300 billion revenue mark in Gross Written Premium

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