Latest news with #SBILifeInsurance
Hans India
07-05-2025
- Business
- Hans India
SBI Life launches Hack-AI-thon; accelerates AI-Driven innovation to shape the future of insurance
SBI Life Insurance, one of India's most trusted private life insurers, launched the 1st edition of 'Hack-AI-thon'; a nationwide innovation initiative encouraging bright minds to leverage AI for transforming the future of life insurance. The initiative offers a unique platform for tech students, across India, to co-create solutions for business-critical challenges in insurance, with a sharp focus on transforming customer experience, product accessibility and fraud prevention. The regional rounds of SBI Life's Hack-AI-thon saw an overwhelming response with over 7,500 registrations from tech students across India. Following a rigorous selection process, over 50 teams from across India were chosen to present their innovative ideas at regional locations, held in Pune, Delhi & Chennai. Out of these regional finalists, the top 15 teams will be selected for presenting their innovative solution at the grand finale in Mumbai. The jury will rate the innovative solutions based on originality, feasibility, and real-world relevance Speaking on the inaugural launch of SBI Life's Hack-AI-thon, Ravindra Sharma, Chief of Brand, Corporate Communication and CSR, SBI Life Insurance, said, 'Innovation flourishes when diverse minds collaborate outside conventional boundaries. By inviting young talent to solve real life challenges—such as cybersecurity, personalization, and fraud prevention— SBI Life's Hack-AI-thon encourages future-ready solutions that are deeply aligned with the evolving needs of the insurance industry. This initiative reinforces our commitment to a collaborative, technology-led approach for enhancing customer experience.' He added, 'At SBI Life, our purpose is to liberate individuals to pursue their dreams by providing necessary security safeguards for their loved ones. SBI Life Hack-AI-thon is a natural extension of this vision— which empowers the youth to drive innovations which make insurance simpler, more accessible, and relevant in a digital-first world. The creativity and problem-solving mindset of participants reaffirms our belief in the strength of our coming generations to shape meaningful change. With this initiative, we continue delivering on our promise: not just to insure lives, but to empower them—Apne Liye, Apno Ke Liye.' By inviting fresh perspectives and collaborative solutions, the initiative aims to generate actionable ideas that align with SBI Life's digital transformation journey—ultimately shaping a smarter, more inclusive, and customer-first insurance experience.
Business Upturn
06-05-2025
- Business
- Business Upturn
SBI Life launches Hack-AI-thon; accelerates AI-Driven innovation to shape the future of insurance
Kicking off its inaugural edition, SBI Life Hack-AI-thon engages nationwide talent to brainstorm on future ready insurance solution, regional qualification rounds hosted in Pune , Chennai , and New Delhi MUMBAI, India , May 6, 2025 /PRNewswire/ — SBI Life Insurance, one of India's most trusted private life insurers, launched the 1st edition of 'Hack-AI-thon'; a nationwide innovation initiative encouraging bright minds to leverage AI for transforming the future of life insurance. The initiative offers a unique platform for tech students, across India , to co-create solutions for business-critical challenges in insurance, with a sharp focus on transforming customer experience, product accessibility and fraud prevention. The regional rounds of SBI Life's Hack-AI-thon saw an overwhelming response with over 7,500 registrations from tech students across India . Following a rigorous selection process, over 50 teams from across India were chosen to present their innovative ideas at regional locations, held in Pune , Delhi & Chennai. Out of these regional finalists, the top 15 teams will be selected for presenting their innovative solution at the grand finale in Mumbai . The jury will rate the innovative solutions based on originality, feasibility, and real-world relevance Speaking on the inaugural launch of SBI Life's Hack-AI-thon, Mr. Ravindra Sharma , Chief of Brand, Corporate Communication and CSR, SBI Life Insurance, said, 'Innovation flourishes when diverse minds collaborate outside conventional boundaries. By inviting young talent to solve real life challenges—such as cybersecurity, personalization, and fraud prevention— SBI Life's Hack-AI-thon encourages future-ready solutions that are deeply aligned with the evolving needs of the insurance industry. This initiative reinforces our commitment to a collaborative, technology-led approach for enhancing customer experience.' He added, 'At SBI Life, our purpose is to liberate individuals to pursue their dreams by providing necessary security safeguards for their loved ones. SBI Life Hack-AI-thon is a natural extension of this vision— which empowers the youth to drive innovations which make insurance simpler, more accessible, and relevant in a digital-first world. The creativity and problem-solving mindset of participants reaffirms our belief in the strength of our coming generations to shape meaningful change. With this initiative, we continue delivering on our promise: not just to insure lives, but to empower them—Apne Liye, Apno Ke Liye.' By inviting fresh perspectives and collaborative solutions, the initiative aims to generate actionable ideas that align with SBI Life's digital transformation journey—ultimately shaping a smarter, more inclusive, and customer-first insurance experience. About SBI Life Insurance: SBI Life Insurance ('SBI Life' / 'The Company'), one of the most trusted life insurance companies in India , was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001 . Serving millions of families across India , SBI Life's diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions. Driven by 'Customer-First' approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors and employees alike. SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 1,110 offices, 26,355 employees, a large and productive network of about 240,304 agents, 60 corporate agents and 13 bancassurance partners with more than 41,000 partner branches, 141 brokers and other insurance marketing firms. In addition to doing what's right for the customers, the company is also committed to provide a healthy and flexible work environment for its employees to excel personally and professionally. SBI Life strongly encourages a culture of giving back to the society and has made substantial contribution in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2024-25, the Company touched over 50,000 direct beneficiaries through various CSR interventions. Listed on the Bombay Stock Exchange ('BSE') and the National Stock Exchange ('NSE'), the company has an authorized capital of Rs. 20.0 billion and a paid-up capital of Rs. 10.0 billion. The AuM is Rs.4 ,480.4 billion. For more information, please visit our website- and connect with us on Facebook, Twitter, YouTube, Instagram, and LinkedIn. (Numbers & data mentioned above are for the year ended March 31, 2025 ) Photo: View original content to download multimedia: Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.
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Business Standard
28-04-2025
- Business
- Business Standard
Market volatility nudges customer preference away from ULIPs in Q4FY25
The benchmark Nifty50 index fell almost 17 per cent amid sell-off by foreign investors, weak corporate earnings and global uncertainties due to the US tariffs Mumbai Listen to This Article Amid increased volatility in equity markets, customer preference is likely to have moved away from Unit Linked Insurance Plans (ULIPs) in the last quarter of FY25. For SBI Life Insurance and ICICI Prudential Life Insurance, the share of ULIPs in the product mix has reduced in the January-March quarter of FY25 (Q4FY25) from the year-ago period, while the share of traditional products increased. ULIP is an insurance product which offers both the benefits of investment and insurance to fulfil long-term goals. The premiums for ULIPs are divided towards life insurance coverage and the remaining part for investment in market-linked funds
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Business Standard
27-04-2025
- Business
- Business Standard
Shift in product mix will continue in FY26: SBI Life Insurance MD & CEO
An ideal product mix depends on what are the strengths of the company and how they cater the needs of the customers, says Jhingran Mumbai Listen to This Article Amit Jhingran, managing director (MD) and chief executive officer (CEO), SBI Life Insurance, spoke about the reducing dependence on unit-linked insurance plans (Ulips) and growth strategy for the current financial year, in an interview with Aathira Varier in Mumbai. Edited excerpts: Why was premium income growth muted in FY25? The company grew around 13 per cent on an individual annual premium equivalent (APE) basis. Total APE was somewhat muted because of lower contribution from the group fund. We consciously did not go looking for it as we found the rates being offered in the industry to be margin negative for
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Business Standard
25-04-2025
- Business
- Business Standard
SBI Cards or SBI Life: Which stock should you buy post Q4 results?
SBI Cards and SBI Life stocks displayed an opposite trend post Q4 results. SBI Card stock plunged over 5 per cent in intra-day deals on Friday, while SBI Life Insurance shares rallied as much as 10 per cent. SBI Cards reported a 19 per cent decline in net profit at ₹534 crore for the quarter ended March 2025, as against ₹662 crore in the year ago period. Total income, however, grew by 8 per cent year-on-year (YoY) to 4,832 crore. Meanwhile, SBI Life posted a flat growth in net profit ₹813.50 crore; while its renewal premium increased by 12.9 per cent YoY to ₹14,680.30 crore. Post the stock reactions to the Q4 earnings, here's a trading guide for these two stocks. SBI Cards & Payments (SBI Cards) Current Price: ₹868 Upside Potential: 7.2% Downside Risk: 8.5% Support: ₹848; ₹828 Resistance: ₹882; 899 Prior to Friday's fall, SBI Cards has rallied 18 per cent from a low of ₹764 to a high of ₹931. At present levels, the stock is seen testing support around the 38.2 per cent retracement of its recent rally. Below which, support for the stock can be anticipated around 50 per cent and 61.8 per cent retracements levels at ₹848 and ₹828, respectively. The ₹848 support coincides with the super trend line support on the daily chart. Technically, break and sustained trade below the same could signal a likely weak bias going ahead. As such, the stock can potentially drop back to test its 100-Daily Moving Average (100-DMA) around ₹794 levels. CLICK HERE FOR THE CHART On the positive front, in case, the stock respected the super trend line support, it can attempt a pullback towards its recent highs around ₹930 levels. Near hurdles for the stock stand at ₹882 and ₹899 levels. SBI Life Insurance Current Price: ₹1,676 Upside Potential: 16.5% Downside Risk: 8.7% Support: ₹1,663; ₹1,620; ₹1,581 Resistance: ₹1,760; 1,812; ₹1,850 SBI Life zoomed to a high of ₹1,762, but at present has reversed most of its intra-day gains amid a fall in the broader market. The stock, however, continues to trade above the bullish pivot, which stands at 1,663. As long as the stock holds above the same, the stock can potentially continue to trade with a favourable bias. On the upside, the stock can surge to ₹1,952 levels, with interim resistance likely around ₹1,760, ₹1,812 and ₹1,850 levels. On the flip side, in case, the stock violated the ₹1,663 support, it can fall back to test support around its 200-DMA at ₹1,581, or deeper down ₹1,555 levels. Intermediate support for the stock stands at ₹1,620 levels.
