Page 38 - WOW Magazine Dec22_V04
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Credit Life Highlights
SUD Life is committed to increase the footprints of life insurance business in India & we, the Credit Life channel are
aligned towards achieving this goal. Along with ensuring financial security to the customer, credit life product protects
bank(s) loan portfolio against any unforeseen event.
From Rs 37 Cr in FY’11 to Rs 285 Cr in FY’22, Credit Life channel has grown at a CAGR of ~21% in terms of premium with an
YoY business growth of 50%.
Continuing the Growth Momentum & with a great collaboration with the Bancassurance Sales team, Credit Life
channel has issued 205 Cr premium till Oct’22 (8 months) and is committed towards becoming a 400 Cr+ channel in
FY’23.
We have paid 331 claims worth 28 Cr till Oct’22(8 months) thereby safeguarding the stakeholder’s (customer as well
as partner bank) intertest.
Credit Life Channel Structure
Region Sales Manager - RSM
(8 Regions)
Divisional Sales Manager - DSM
(19 Divisions)
Area Sales Manager (ASM) /
Business Sales Manager (BSM)
(77 Units)
Business Development Associates
(BDA)/CPC Managers
(51 Sub-Units & 300 Clusters)
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