Page 15 - Insurance Times April 2017 Special Issue on Newindia

SBI to invest 10% in SBI Life Women underinsured than men: Birla survey
The State Bank of India has recently Women are under-insured in India, as per a report by Birla Sun Life Insurance
said it would states. The report said that as of today, only 50 per-
initiate the cent of women in the urban internet population in
process for India have life insurance coverage as compared to
selling 10 percent of its shares in its 72 percent of men who have purchased life insur-
life insurance arm through an initial ance solutions.
public offering (IPO). These numbers are well below expectation when it comes to the total women
According to a regulatory filing, the population in India. Women comprise only 23 percent of Birla Sun Life Insurance's
executive committee of the SBI's (BSLI) overall customer database.
central board has accorded in-prin- Pankaj Razdan, MD & CEO, Birla Sun Life Insurance said, "we do not give due
ciple approval to "initiate process for attention to the risks existing in a woman's life, which is at times even more
offer for sale of 10 percent of shares than a man's. It is therefore evident that that a woman should take cognizance
through initial public offer". of her importance in her family members' lives and opt for solutions that offers
The bank also said it would explore protection against life risks, can be an emergency fund and will also fulfill her
the possibility of diluting 8 percent of and her family's financial goals in the future".
its stake in SBI Life Insurance
through IPO offer, out of total 10 per SBI Life set to enter Bahrain in next financial year
cent offer for sale. SBI owns 70.1 per SBI Life is set to enter Bahrain in the next financial year and is awaiting regula-
cent of the life insurer while BNP tory permission to open a branch there, a top company
Paribas Cardif owns 26 percent. official has said."We are all set to expand and enter
Bahrain next financial year and we have already re-
Tata AIA Life collaborates ceived the approvals from IRDAI (Insurance Regulatory
and Development Authority) for the same," SBI Life
with TTSL
managing director and chief executive Arijit Basu told.
Tata AIA Life Insurance has tied up "We are now waiting for the approval from Central Bank of Bahrain (which also
with Tata Teleservices Ltd. (TTSL) for regulates that country's insurance industry) to kick off our operations," he said.
the launch of
Basu said though the initial focus will be on non-resident Indians or people of
m-Insurance.
The move by Indian origin living in Bahrain, they may also serve the locals in the future.
Tata AIA is be- The Behtar India campaign from DHFL Pramerica Life
lieved to bring NDTV and DHFL Pramerica Life Insurance have launched a campaign, Behtar
the economically weaker sections
India, to work towards a better future for
under insurance cover.
India. The core thought of the campaign is
As per the pilot offer on select re- to mobilise students, ordinary citizens and
charges, the life insurance cover pro- corporates to join a nationwide movement
vided under the m-Insurance stands that focuses on three main pillars of the cam-
at up to Rs one lakh for the telecom paign - Health, Hygiene, and Environment.
company's prepaid subscriber base in Behtar Swasthya (Health) stage of the cam-
Andhra Pradesh and Telangana.
paign aims to raise funds to protect underprivileged children against Dengue.
The new move would cut the distri- The second stage of the campaign focuses on Behtar Vatavaran (Environment).
bution and service costs and would The third and last stage of the campaign is Behtar Swachhta (Hygiene). In keep-
bring the protection for such people ing the dream of a Swachh Bharat, this leg of the campaign will focus on clean-
for whom it was unaffordable, be- up drives across India to spread the message of cleanliness and raise awareness
lieves, market insiders. Indian citi- about health and hygiene.
zens with the age group of 18 to 80
Developed as a path-breaking 360° campaign, Behtar India allows citizens,
years can get this offer which is to- schoolchildren and corporates, to supplement each other's efforts to drive
tally paperless and also does not re- awareness and initiate tangible progressive actions towards building a better
quire any medical tests.
India.
The Insurance Times, April 2017 15

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