OneShriram’s Post

At Shriram, our mission goes beyond growth — it’s about purpose-driven impact. Aligned with our mission, our life insurance company, Shriram Life Insurance, is dedicated to making life insurance accessible to the families who need it most, especially in underserved segments like the lower-middle and rural markets. Here are some of their standout initiatives & strategies Affordable Premiums: With an average premium size of ₹18,000 (well below the industry’s ₹80,000+), they ensure that life insurance is within reach for families who need financial protection but cannot afford higher premiums. Purposeful Reach: Their focus on the lower-middle and mass market segments reflects our commitment to serving those who are often overlooked by traditional insurers. Claims Settlement: With a 98%+ claim settlement ratio for individual policies and near 100% for group policies, they are building trust and demonstrating the true value of life insurance to families. They are steadfast in their commitment towards serving the community and ensuring that life insurance becomes a tool for financial security for every family — especially those who need it most. Listen to Shriram Life MD and CEO Casparus Kromhout’s insights in this clip #shriramgroup #shriramlife #lifeinsurance #purposedriven

🚀 Exciting News from Mahindra Finance! 🚀 Mahindra & Mahindra Financial Services, a key player in the Mahindra Group, has just secured a pivotal Certificate of Registration from IRDAI, allowing them to venture into insurance distribution across their extensive network. This strategic move enables them to offer a wide range of insurance products including life, health, and general insurance all under one roof. With over 1,360 branches and a presence in 380,000 villages and 7,000 towns, Mahindra Finance is set to revolutionize insurance accessibility, especially in rural and semi-urban areas where insurance penetration is markedly low. This expansion not only promises to enhance their service delivery but also broadens their revenue streams, leveraging their robust infrastructure. As noted by Raul Rebello, Managing Director & CEO, this diversification is not just about business growth but enhancing customer experience and promoting innovation in serving the underinsured markets of emerging India. The entry of such a formidable player in the insurance market signifies a substantial boost for the industry, potentially increasing insurance penetration in India significantly. This development is a beacon of hope for better financial inclusion and security across the nation. 🇮🇳✨ #MahindraFinance #Insurance #FinancialInclusion #Innovation #Growth #IRDAI

#Gross Premium of Shriram General Insurance up 31% in Q1FY25 - Indian Convention #Gross Written Premium (GWP) during Q1 FY25 was Rs.733 Cr, 31% growth YoY. The net profit jumps to Rs 114 Cr in Q1 FY25, a 17% growth from the year ago period. AUM stands at Rs. 12268 Cr as on 30 June 2024, an 8.74% growth from Rs 11282 Cr same period a year ago. Solvency ratio stands at 3.87 as of 30 June 2024, highest in the country. Motor business grows by 34% and non-motor by 10% in Q1FY25. No of live policies has increased to 62.85 Lakhs in Q1FY25 from 57 Lakhs in Q1FY24 Shriram General Insurance Company […] https://lnkd.in/gZAfj65k 𝗖𝗹𝗶𝗰𝗸 𝘁𝗼 𝗝𝗼𝗶𝗻 𝘁𝗵𝗲 𝗙𝗮𝘀𝘁𝗲𝘀𝘁 𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝗡𝗲𝘁𝘄𝗼𝗿𝗸 - https://lnkd.in/gqWAqhyR 𝗙𝗼𝗿 𝗗𝗲𝘁𝗮𝗶𝗹𝘀 𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝗔𝗺𝗮𝗮𝗻 𝗧𝗮𝗾𝘃𝗶 𝗖𝗼𝗻𝗻𝗲𝗰𝘁 𝗼𝗻 𝗟𝗶𝗻𝗸𝗲𝗱𝗶𝗻 - https://lnkd.in/gbfDTSGq +91 7275859841

Hey there! Have you heard about the latest updates in the insurance sector? The IRDAI has rolled out some new guidelines that are shaking things up in the industry. These changes are aimed at making sure policyholders are well-protected, improving governance practices, and overall, making things clearer and fairer for everyone involved. One of the major game-changers is the new Corporate Governance regulations for insurers. It's all about setting up a strong framework for how insurance companies are run. By clearly defining the roles and responsibilities of the board and management, the IRDAI is taking a big step towards bringing insurance practices in India in line with global standards. These updates show that the insurance sector in India is evolving, and it's important for everyone involved to keep up with the changes. So, if you're part of the insurance world or just curious about what's going on, staying in the loop with these new developments could give you some valuable insights into where the industry is headed. #Insurance #FinancialGoals #FinancialPlannings #Leadership #Guidance# Shriram Life Insurance Insurance Industry.

SHRIRAM LIFE INSURANCE

Mr. Casparus Kromhout, MD & CEO of Shriram Life Insurance, shares his vision for the organization, including its expansion strategy across India. Article Summary: • Focus on lower-sum policies, particularly in rural areas. • 44% of the individual business comes from rural India. • Significant growth in individual policy sales (131%). • Expanding market share in states where it is currently below 1%. • The strategic goal is to increase the market share by 2% or more in targeted states. To read more: https://lnkd.in/g8gHuDV6 #ShriramLifeInsurance #ShriramLI #CasparusKromhout #MD #CEOofShriram #India #ProtectEveryFamily #SecuringFutures #LifeInsuranceForAll #AffordableCoverage #InnovatingForYou #RuralInsuranceReach #FamilyProtection #SecureFuture #CustomerFirstAlways #SmartInsuranceSolutions #FinancialSafetyNet

Hyderabad : Life Insurance Corporation of India said its Zonal Manager, LK Shamsunder has retired from service of the Corporation on Wednesday. In his 36 years of career with LIC, Shamsunder held various positions across the country, including the post of General Manager, LIC International at Bahrain, an official LIC release said. Check out here for full details : https://lnkd.in/g3FdD9zf #LIC #LifeInsurance #InsuranceIndustry #Retirement #CareerMilestone #LKShamsunder #Bahrain #InsuranceLeadership #LICIndia #HyderabadNews #LICZonalManager #LICInternational #bizzbuzz #bizzbuzznews

#Gross Premium of SHRIRAM GENERAL INSURANCE CO. LTD. up 31% in Q1FY25 - Indian Convention #Gross Written Premium (GWP) during Q1 FY25 was Rs.733 Cr, 31% growth YoY. The net profit jumps to Rs 114 Cr in Q1 FY25, a 17% growth from the year ago period. AUM stands at Rs. 12268 Cr as on 30 June 2024, an 8.74% growth from Rs 11282 Cr same period a year ago. Solvency ratio stands at 3.87 as of 30 June 2024, highest in the country. Motor business grows by 34% and non-motor by 10% in Q1FY25. No of live policies has increased to 62.85 Lakhs in Q1FY25 from 57 Lakhs in Q1FY24 Shriram General Insurance Company […] https://lnkd.in/gPC2FdWM 𝗖𝗹𝗶𝗰𝗸 𝘁𝗼 𝗝𝗼𝗶𝗻 𝘁𝗵𝗲 𝗙𝗮𝘀𝘁𝗲𝘀𝘁 𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝗡𝗲𝘁𝘄𝗼𝗿𝗸 - https://lnkd.in/gsYmD_BZ 𝗙𝗼𝗿 𝗗𝗲𝘁𝗮𝗶𝗹𝘀 𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝗔𝗺𝗮𝗮𝗻 𝗧𝗮𝗾𝘃𝗶 𝗖𝗼𝗻𝗻𝗲𝗰𝘁 𝗼𝗻 𝗟𝗶𝗻𝗸𝗲𝗱𝗶𝗻 - https://lnkd.in/g-6MSZ8e +91 7275859841

#lifeinsurance #IRDAI #growth May MTD and YTD figures of Life Insurance companies of India #Growth of May is lesser than april for most of the companies- A slight slowdown #LIC growth YTD is splendid and its raising the Industry growth Rate as well #Insurers having more than 1% Market share - all are growing except #kotaklife . A few smaller companies are showing excellent growth- erstwhile Aegonlife now Bandhan Life started showing fabulous growth #Godigit performance is the 1st year surpassed many older players !! #Avivalife #BhartiAxalife #CanaraHSBClife #FutureGeneraliLife #Indiafirstlife #SUDlife de-grew in May- However their marketshare are minuscule to affect the industry # Degrowth of SBI life could be a concern as they have almost 9% market share # The current data shows nothing disruptive in sales pattern but as IRDAI has came out with Master circulars on Products, Valuation and Corporate governance, the last month of Q1 is unlikely to see immediate growth trajectory. Most of the companies will be busy deciphering the laws and provisions and revising processes/ cost and product structures.

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