SBI - Life Integrated Annual Report 2020/21

BUSINESS PARTNERS

Fostering efficiency

Our Business Partners play a key role in delivering our products and services to our customers. We engage with them through conferences and workshops, one-to-one meetings, communication via telephone, email and other communication channels. We work closely with our business partners to build diversified distribution system and to achieve sustainable business growth.

Material issues

Adoption of strong corporate governance, transparency and ethics

Clear and consistent business strategy

Timely compliance with existing and new regulatory, legal requirements

Prompt communication of critical developments in our Company

What we did

Regular digital meetings via collaborative platforms

We organised virtual meetings on a regular basis for updates on various digital platforms. This helped for a regular communication between the two parties to ensure seamless operations and encouraged our business partners to perform better.

Digitalisation of communication

To ensure the safety and wellbeing of our business partners, we transitioned all internal and external communication to digital platforms to minimise physical contact and ensure continued workflow.

Review meets

Adapting to a new normal was a challenge in the beginning. However, through periodic review meets, we were able to review their work and identify key challenges as a result of transition to a digitalised workspace and developed ways to work around the problems and develop optimal solutions for them. We also closely monitored their performance and provided suggestions or guidance as and when needed.

Periodic surveys for feedbacks / suggestions

As we changed our system to adapt to the changing times, we created a communication channel to encourage feedback and suggestions from our business partners which were incorporated in our system, making it easier to work and with increased efficiency.