SBI - Annual Report 2019-20

SBI LIFE AT A GLANCE

BUILDING A POWERHOUSE
OF POSSIBILITIES

We, at SBI Life Insurance Company Limited (SBI Life), are one of the leading private life insurers in India. We 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. Our products are available in the life, pension, annuity and health segments.

OUR UNPARALLELED DISTRIBUTION NETWORK

16,759

Employees across 937 offices

63

Corporate agents

15

Bancassurance partners

23,500+

SBI banca branches

102

Brokers

186,495

Trained insurance personne

Online reach

Website and web aggregator

STRATEGIC OBJECTIVES

Geographical expansion by leveraging strong distribution channels

Embedded cost discipline ensuring profitable growth

Customer-first approach

Digital transformation

Enhanced training

Shareholding pattern^#(%)

22.4%

Private market share in individual NBP

23.2%

Private market share in Individual Rated Premium (IRP)

VISION

To be the most trusted and preferred life insurance provider.

ETHICS

We constantly embrace the best practises in the areas of corporate governance and are committed to acting professionally, fairly and with integrity in all our dealings. Our Company has a well-defined code of conduct which lays down principles for every employee to act in accordance with the highest standards of personal and professional integrity, honesty, ethical and legal conduct. This code is applicable to all Directors, Senior Management and employees of the Company.

MISSION

To emerge as a 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-liberalisation period.

PHILOSOPHY

Our Company’s philosophy is based on the five core values of trustworthiness, ambition, innovation, dynamism and excellence. We strive to provide
best-in-class services to our customers while ensuring utmost commitment to ethical standards, professional integrity, corporate governance and regulatory compliance.

DYNAMISM

AMBITION

TRUSTWORTHINESS

INNOVATION

EXCELLENCE