By Sachin Murdeshwar

Mumbai: Private Life Insurer Shriram Life Insurance Company has bagged two prestigious SKOCH Awards for the company’s contribution to “Life Insurance distribution to Aam Aadmi” and the other Silver Award is also for “Life Insurance Distribution to Aam Aadmi”. The SKOCH Awards celebrate human excellence and agents of change in Indian society. The Awards are based on the philosophy of spearheading positive socio-economic changes through recognizing persons who have contributed immensely to salutary transformations in society and governance by displaying exemplary leadership abilities.

The SKOCH Awards, mainly the Order-of-Merit awards highlights the sustained efforts by Shriram Life Insurance to design its products and distribution for the benefit of the “aam aadmi” customer segment and with over 50% of its policies are distributed in the rural area and a significant chunk from the tier II and III towns. SLIC works with the purpose of providing life cover to these families that are most vulnerable to financial catastrophe due to untimely loss of a breadwinner. This is true financial inclusion.

Mr. Manoj Jain, Managing Director, Shriram Life Insurance said “The two prestigious SKOCH Order-of-Merit awards are testimony and recognition of Shriram Life Insurance’s constant endeavour of spearheading socio-economic change in the form of inclusive growth for the Aam Aadmi. Our omni-channel technology-propelled distribution platform helps us to extend life insurance cover to those sections of society who have to deal with a lot of volatility and uncertainty. Shriram Life’s focus on rural and Tier II-III towns contributes towards the transformational approach of ‘Investing in New India’. We strive to alter the way in which life insurance is perceived amongst the common people from these areas and the ease of buying insurance cover.”

The Company ranks 5th amongst the private insurers in number of policies and expects to grow at a greater pace in the current financial year. SLIC was able to achieve this growth despite braving a year of consolidation in terms of cost reduction and channel restructuring. The year 2018 witnessed great focus by SLIC to improve its fundamentals and some defining processes and initiatives to improve business quality and customer experience.

SLIC would also be continuing to focus on leveraging technology for new innovations; ease of doing business and improve insurance fundamentals with the aim of providing greater value to its customers and employees.