VALUE CREATION MODEL
STRENGTHENINGTHE CORE
INPUTS
Manufactured capital
-
Capex for new offices, branches
`51.05 million
-
Furniture and equipment
`1.61 billion
-
No. of offices
937
-
Land and buildings
`3.69 billion
Intellectual capital
-
Spends on technology
`255.55 million
-
Spends on software
`375.75 million
Human capital
-
Spends towards employee training
`99.64 million
-
Total participants trained in the year
13,17,029
Social and relationship capital
-
No. of new policies issued in rural areas
3,81,906
-
No. of new policies issued in the social sector
556
-
Premium
`21.25 billion
-
Premium
`0.04 billion
-
CSR spends
`221.70 million
MULTI-CHANNEL DISTRIBUTION
1,30,418
Individual agents
53,096
CIFs
23,500+
SBI branches
102
Brokers
63
Corporate agents
15
Banca partners
OUR EXTERNAL ENVIRONMENT
- Rising share of financial savings
- Under-penetration of life insurance in India
- Growing pie of middle-class and working population
- Focus on driving digitalisation
OUR PROCESS
OUR STRATEGIC OBJECTIVES
Geographical
expansion by
leveraging strong
distribution channels
Embedded cost
discipline ensuring
profitable growth
Customer-first
approach
Digital
transformation
Enhanced
training
OUTPUTS
Financial capital
-
Gross premium income
`406.35 billion
-
Profit after tax
`14.22 billion
-
ROE
17.4%
-
Networth
`87.43 billion
Manufactured capital
No of policies issued
1.55 million
Reduction in grievances from 27 to 26 per 10,000 policies issued compared to FY19
Intellectual capital
-
Renewable premium collection through digital mode
86%
-
Total individual applications submitted digitally
96%
Human capital
-
NBP generated per sales employee
`14.87 million
-
Attrition rate
20.17%
Average number of years spent by an employee in the Company
4 years 7 months
Natural capital
LEED-certified buildings
Corporate office
Plastic Bottle Recycling
(Appreciated by Bisleri for active contribution in BOTTLE FOR CHANGE plastic collection and recycling initiative)
OUTCOMES
Financial capital
- Financial stability
- Robust cash flows and profitability
- Superior value for shareholders
Manufactured capital
- A large, superior distribution network
- Diverse, innovative products and services
- High value created for customers
Intellectual capital
- Strong response to new launches
- Healthy traction on digital platforms
Human capital
- Strong employer brand equity
- Committed and highly motivated people
- Healthy retention levels
Natural capital
- Reducing our environmental footprint and creating awareness on conserving natural capital among all internal and external stakeholders