Social and Relationship Capital

Empowering communities.
Multiplying impact.

We have maintained strong, time-tested relationships with our stakeholders – employees, business partners, policyholders, creditors, shareholders, financial analysts, regulators, government and the society at large. We engage with them regularly to stay closer to the changing realities and continue to deliver high value.

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At SBI Life, we are committed to uplifting the communities around us. We have identified a few focus areas and are adopting a twopronged approach to meet our goals. First, we aim to provide insurance solutions tailored to the needs of people residing in rural areas and social sector (unorganised sector, economically vulnerable segment etc). Second, we undertake multi-faceted corporate social responsibility (CSR) activities to improve community wellbeing.

Owing to our proactive approach, we are making steady progress towards empowering communities and multiplying the positive impact we make on their lives.

During the year, we continued to drive awareness about insurance products and bring more people in the rural and social sectors in the ambit of life insurance sector.

Focus on Rural and Social sectors

SECTORS PARTICULARS FY 2019 FY 2018
RURAL
  • No. of new policies (Lakh)
  • Rural sector policies to total policies (%)
  • Premium Underwritten (` billion)

3.62

23.74

16.07

3.38

23.68

13.09
SOCIAL
  • No. of new policies (including group business)
  • Social sector lives to total lives (%)
  • Premium Underwritten (` billion)

1,264

11.58

0.09

1,554

10.90

0.09
TOTAL No. of new policies (Lakh) 15.26 14.28

Our CSR focus areas

EDUCATION

  • Provided financial support as well as basic educational and stationery needs to underprivileged children to reduce the overall student dropout rate in schools
  • Helped over 50 schools across 17 states in India to build and enhance their infrastructure facilities
  • Provided support towards the cost of education, infrastructure enhancement, therapy aids and overall development of differently abled children, to give them equal opportunity of learning

85,000+

Student beneficiaries across 17 states in India

HEALTHCARE

  • Provided essential medical equipment, ambulance, sanitation facilities to hospitals/ NGOs and supported Cancer awareness
  • Sponsored treatment/surgeries for poor patients
  • Focused on improving health and nutrition status of rural/ tribal pregnant women and lactating mothers

1.5 lakh+

Beneficiaries across 15 states

RURAL DEVELOPMENT

  • Provided sanitation and lavatory facilities, safe drinking water and compost machines
  • Supported maintenance of plantation and promoted use of renewable energy

DISASTER RELIEF

  • Provided relief materials to over 1,000 victims of natural calamities in Kerala, Assam, Manipur and Karnataka

Engaging customers.
Multiplying awareness.

We are closely connected with our customers and are providing them with bespoke, high quality insurance solutions that help them in fulfilling their financial needs across their lifespan. Since inception, we have developed products that cater to the existing and latent needs of our customers, while providing them with maximum control over the policies they have enrolled for. We play a proactive role in creating higher awareness about the benefits of insuring and provide simplified solutions, so that our customers can make informed decisions about their life as well as the life of their loved ones.

We engage with our customers through regular outreach programmes, using physical and digital channels, and our team of customer service executives deliver best-in-class convenience and experience, every day. Our customer-related metrics reflect the outcome of these efforts, though we believe we can improve them further.

The constant awareness campaigns and multi-dimensional engagement with our customers helps empower them. We believe, informed consumers are happy consumers as they have higher confidence in their decisions and can rest assured about their financial goals and priorities.

During the year, we initiated the Net Promoter Score (NPS) index that measures customer loyalty and enables us benchmark our services. Consequently, this index acts as a guide for the requisite changes and areas of improvement.

27 per 10,000policies

Reduction in grievances from 47 per 10,000 policies from FY2018 to FY2019

We also provide our customers with relatively swift and fast claims management experience.