Abinash MohantyAnurag SinghAvinash KumarDFT VI

MAX LIFE INSURANCE

SBI LIFE INSURANCE

• TYPE - Private• INDUSTRY - Financial Services• FOUNDED – 2000• FOUNDER - Analjit Singh• HEADQUARTERS - New Delhi, India• AREA SERVED – India• KEY PEOPLE - Analjit Singh Executive Chairman, Rajesh

Sud Chief executive officer and Managing director.• PRODUCTS - Individual Insurance (23 products and 9

policies) and Group Insurance (4 products and 7 policies)

• WEBSITE - http://www.maxlifeinsurance.com/

THE JOINT VENTURE

Max India is an Indian multi-business corporate, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, a general insurer.

Max India Ltd.

Mitsui Sumitom

o Insurance Co. Ltd.

WHAT IS MAX INDIA?

• The Max India Group is a multi-business corporate

• The Company is headquartered in New Delhi, India.

THE COMPANY'S VISION is to be one of India's most admired corporates for service excellence – “In what they do, how they do it and the positive impact they have on society and stakeholders.”

WHAT IS MSI?

• Mitsui Sumitomo Insurance Co., Ltd. (MSI) is a member of MS&AD Insurance Group.

• Headquartered in Tokyo, Japan, MS&AD Insurance Group has a presence in 39 markets globally.

In addition to general insurance business, MSI has strong experience and an extensive track record in the area of Life Insurance through its domestic subsidiaries,

THE NEED FOR JV

Max Life Insurance started its journey in 2000 to provide life insurance and retirement solutions for

long-term savings and protection to thirty lacks customers

The country-wide diversified distribution led to the need of implying insurance policy with trust benefices

THE DEVELOPMENT OF JV

Max Life Insurance has a diversified distribution network spread across more than 750 cities.

Agency distribution forms its core distribution

channels with advice based sales process

Agent advisors are equipped to engage with

prospective customers and offer customized solutions for their life stage needs.

MAX INDIA handles agent and customer services

MSI deals with policy making and partnership

distribution

THE PRESENT SERVICE• Max Life Insurance offers Long Term Savings and

Protection oriented products.• It currently has 23 products covering and 9

POLICIES that can be customized.• Besides this, the company offers 4 products and

7 POLICIES in group insurance business.

MARKET STATISTICS• In the financial year 2011-12 Max Life Insurance

ranked fourth among private life insurers with a market share of 8.6%.

• The Company has been one of the fastest growing life insurance companies with total revenue of Rs.6,391 crore and enterprise profit of Rs.733 crore for the Financial Year 2011-12.

• The Company’s share capital of Rs. 2,127 crore with a solvency margin of 534% is indicative of its financial strength and stability.

RECOGNITION• Recognized as a 'Superbrand of the Year'

2013-14• Ranked 8th amongst the Most Trusted Life

Insurance companies in Brand Equity (The Economic Times) survey

• 'BIG Data & Business Analytics Award' for Business Analytics and Performance Management Leadership

• TYPE - Joint Venture• INDUSTRY – Insurance• FOUNDED - March 2001• HEADQUARTERS - Mumbai, India• KEY PEOPLE - Mr. Arijit Basu, MD & CEO• PRODUCTS- Life insurance Pensions• OWNER- SBI, BNP Paribas• NUMBER OF EMPLOYEES - 7,334 on-roll

employees and 96,000 agents• WEBSITE - Sbi Life

THE JOINT VENTURE

STATE BANK OF

INDIA

BNP Paribas Assurance

SBI Life Insurance is a joint venture life insurance company between State Bank of India (SBI), the largest state-owned banking and financial services company in India, and BNP Paribas Assurance

STATE BANK OF INDIA

• The Bank is actively involved since 1973 in non-profit activity called Community Services Banking.

• All the branches and administrative offices throughout the country sponsor and participate in large number of welfare activities and social causes.

“Our commitment to nation-building is complete & comprehensive.”

BNP PARIBAS• BNP Paribas Cardif is the life and property &

casualty insurance arm of BNP Paribas, one of the strongest banks in the world.

• BNP Paribas Group, having presence in more than 80 countries

• It ranks highly in Retail Banking, Investment Solutions and Corporate & Investment Banking.

THE NEED FOR JV

Indian govt. wanted a well insured sector for its vast customer base

BNP paribas agreed on the share holding policies

SBI being a top serving corporate wanted even a stronger prospective for the competition

DEVELOPMENT OF JV

Government of India opened the life insurance sector to private companies,

SBI Life as a joint venture looks for Retail

Agency, Institutional Alliance and Corporate

Solutions

Its initial stage its business was mainly from bancassurance

channel,

Now it is developing its own agency team for

selling its life insurance products.

SBI looks after transaction policies and govt aids. BNP deals with only

insurance policies and agents evaluation

THE PRESENT SERVICE• SBI Life Insurance is a joint venture between State Bank of

India and BNP Paribas Cardif. SBI owns 74% of the total capital and BNP Paribas Cardif the remaining 26%.

• SBI's access to over 100 million accounts across the country for insurance penetration across every region and economic strata in the country.

80,000 Insurance Advisors, offers door to door insurance solutions to customers

PRODUCTS & SERVICES

• SBI Life offers a wide range of products and services to its customers, including:

• Group Plans – Corporate Solutions, Group Term Insurance and Group Loan Protection Plans

• Health Plans – Individual and Group Health Insurance

• Individual Plans – Unit linked Insurance Plan (ULIP), Pension Plans, Term Plans

MARKET STATISTICS• SBI General closed the financial year 2013-14 (4th

year of operation) with a Gross Written Premium of Rs.1188Crores registering a growth of 54 %.

• During the year 2013-14, SBI General in association with State Bank of India covered over 1.54Crores Saving Bank Account holders

• SBI General has also established its presence in nearly 14,000 Branches of State Bank of India.

RECOGNITION

• Ranked among global top three in terms of number of Million Dollar Round Table (MDRT) members.

• CRISIL has reaffirmed its highest financial rating AAA/Stable to SBI Life.

• In 2007 SBI Life became the first life insurer in India to receive this rating from CRISIL, country's leading rating agency.

• Recently ICRA, has assigned AAA rating indicating highest claims paying ability to SBI Life Insurance

REFERENCES• https://www.sbi.co.in/portal/web/affiliates/joint-ventures• http://www.maxindia.com/joint-ventures.html• http://articles.economictimes.indiatimes.com/2011-04-28

/news/29482858_1_total-premium-premium-income-sbi-life-md

• http://www.maxlifeinsurance.com/about-us/growth-story.aspx

• https://in.linkedin.com/company/sbi-life-insurance-co.-ltd