Page 8 - WOW Magazine Dec22_V04

SUD Life Channel wise Business Update

YTD November 2022

Business Snapshot - YTD November’22

YTD - Target Vs. Achievement Key Business Parameters
Target EPI_S EPI_S YoY % MoM Br. YTD SO Monthly
Channel #Bank Br.
(Rs. Cr.) (Rs. Cr) Ach% Growth Activation Branch Prod.
BOI 352.8 370.04 105% 55% 5000 44% 8.81 2.81
UBI India 1 201.6 186.99 93% 43% 3908 34% 6.45 1.93
UBI India 2 201.6 171.7 85% 34% 4804 31% 4.66 1.67

Total Banca 756 728.72 96% 47% 13,712 42% 6.76 2.2
RRB 21.2 14.11 67% 1096% 2,244 30%
Broking/IMF/Corp. 19.6 12.9 78% - - - - -
Agency
Credit Life 267.14 246.18 92% 67% 13,710 - - -
Agency 12.99 5.19 40% - - - - -

TURN AROUND TIME

General - Policy Issuance Related
Processing of proposal form and communication 15 days from the date of receipt of
of decisions including requirements/issue of proposal form or any requirements
policy/cancellation called for by the company
Providing copy of the proposal form 30 days of acceptance of proposal
Refund of proposal deposit/refund of outstanding 15 days from date of underwriting
proposal deposit decision

Life Insurance - Policy Servicing Related
Processing of free look cancellation 15 days of receipt of request
15 days of receipt of request or last
Surrender/withdrawal
necessary document
Other servicing request (assignment, change in 10 days of receipt of request or last
nomination, policy loan, address change etc.) necessary document
Claims/Benefits Related
On the due date or date of receipt of
Maturity claim/annuities
last necessary document
Survival benefit On the due date
Death claim (other than health claims) (settlement/ 30 days from the date of receipt of
rejection/repudiation) – non investigation cases last necessary document
Completion of investigation 90 days from
Death claim (other than health claims) (settlement/
date of receipt of claim intimation and
rejection/repudiation) – investigation cases
settlement within 30 days thereafter
30 days from the date of receipt of
Health claims – non investigation cases
last necessary document
45 days from the date of receipt of
Health claims – investigation cases
last necessary document
Grievances - Complaints Related
Acknowledging a grievance 3 working days
Resolving a grievance 15 days

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