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Known for its innovation and creating industry benchmarks, BSLI has
several firsts to its credit. It was the first Indian Insurance Company to
introduce “Free Look Period” and the same was made mandatory by IRDA
for all other life insurance companies. Additionally, BSLI pioneered the
launch of Unit Linked Life Insurance plans amongst the private players in
India. To establish credibility and further transparency, BSLI also enjoys the
prestige to be the originator of practice to disclose portfolio on monthly
basis. These category development initiatives have helped BSLI be closer to
its policy holders’ expectations, which gets further accentuated by the
complete bouquet of insurance products (viz. pure term plan, life stage
products, health plan and retirement plan) that the company offers.
Add to this, the extensive reach through its network of 600 branches and
1,75,000 empanelled advisors. This impressive combination of domain
expertise, product range, reach and ears on ground, helped BSLI cover more
than 2 million lives since it commenced operations and establish a customer
base spread across more than 1500 towns and cities in India. To ensure that
our customers have an impeccable experience, BSLI has ensured that it has
lowest outstanding claims ratio of 0.00% for FY 2008-09. Additionally,
BSLI has the best Turn around Time according to LOMA on all claims
Parameters. Such services are well supported by sound financials that the
Company has. The AUM of BSLI stood at Rs. 8165 crs as on February 28,
2009, while as on March 31, 2009, the company has a robust capital base of
Rs. 2000 crs.
Vision:
To help people mitigate risks of life, accident, health, and money at all
stages and under all circumstances.
Values:
Integrity
Commitment
Passion
Seamlessness
Speed
A US $28 billion corporation, the Aditya Birla Group is in the league of
Fortune 500 worldwide. It is anchored by an extraordinary force of 100,000
employees, belonging to 25 different nationalities. The group operates in 25
countries across six continents – truly India's first multinational corporation.
Management Team
Mr. Birla is a Chartered Accountant and has also earned an MBA (Masters
in Business Administration) from the London Business School, London.
He is the Chairman of the Aditya Birla Group, which is among India's
largest business houses. Among its major companies in India are Grasim,
Hindalco, UltraTech Cement, Aditya Birla Nuvo and Idea Cellular and
globally — Novelis, Minacs, Aditya Birla Minerals, Aditya Birla
Chemicals. Its JV operations include Birla Sun Life Asset Management
Company, Birla Sun Life Distribution Co. Ltd and Birla Sun Life Insurance
Co. Ltd.
The media has showered various accolades on him. Between 1997 to-date,
India Today has named him among the top 5 in their "High and Mighty"
Power List and The Economic Times - among the top 10 most influential
Leaders. The NDTV, Star Plus "India Business Week" designated him as
"The Businessman of the Year". Global Finance has cited him among the
10 Super Stars of Corporate Finance. Business World ranked him among
the top 10 of India's most admired and respected CEOs and the top CEO of
the coming millennium, and Hindustan Times named him as "The
Businessman of the Year" as well. He is also on the Board of various
companies.
Mr. Ajay Srinivasan
Prior to joining the Aditya Birla Group, Mr. Ajay Srinivasan was
associated with Prudential Corporation Asia, Threadneedle Asset
Management, etc. at senior levels. With a proven track record for building
successful businesses, his experience in the financial services industry
spans almost two decades.
Mr. Bishwanath Puranmalka
Mr. Gian Prakash Gupta has been the former Chairman and Managing
Director of Industrial Development Bank of India & Chairman of Unit
Trust of India. He has wide and rich experience in Project Financing
including Infrastructure projects, Capital Market, Financial Management
and General Management. He is on the Board of various companies.
Dr. Rakesh Jain
Born in January 1961, Dr Jain is an M.Tech from IIT, Kharagpur and has
done his Ph.D in Polymer Science & Engineering from Akron University
(USA), 1988.
Dr. Jain has been associated with the Aditya Birla Group since 2003 and
brings to the table an enriching experience across industries. Heis currently
the Managing Director of Aditya Birla Nuvo Limited and a Business
Director of Business Process Outsourcing & Software at Aditya Birla Nuvo
Limited since July 1, 2009. Prior to this he served as Joint Managing
Director of Aditya Birla Nuvo Limited for the period December 17, 2008 -
June 30, 2009.
Before joining Aditya Birla Group, Dr Jain held the position of President
and CEO of GE Plastic, India & South Asia in 2001. He spearheaded the
digitization effort at Global GE Plastics in 2000 after working at senior
positions in various departments of the company. He had joined GE
Plastics in its advanced technology group in 1988.
Mr. Suresh Talwar
Mr. Talwar is a commerce graduate and has done his L.L.B. He practices
as a solicitor. He is a partner of M/s Talwar, Thakore & Associates, a law
firm he has founded in partnership with Shobhan Thakore. He was also
associated with M/s. Crawford Bayley & Company prior to his forming his
firm of Advocates. He also acts as a legal counsel to numerous Indian
companies, multinational corporations, Indian & foreign banks. His
professional specialisation is in corporate law, corporate tax, foreign
exchange laws, Monopolies & Restrictive Trade Practices laws, &
international issue of securities by Indian companies. He also holds the
directorship in several eminent public & private limited companies.
Mrs. Tarjani Vakil
Ms. Vakil holds an M.A from the University of Mumbai and has over four
decades of experience in development banking.Ms. T. M. Vakil (presently
Additional Director, Aditya Birla Trustee Company Pvt. Ltd.) has held
directorship of several renowned public sector companies such as LIC,
GIC, ECGC and BHEL amongst others.
COMMITIES:
Asset Liability Management Committee
Audit Committee
Mr. Gain P Gupta - Independent Director & Committee
Chairman
Mr. Ajay Srinivasan; Managing Director
Mr. Bishwanath N. Puranmalka; Non - Executive Director
Mr. Dikran Ohannessian ; Non - Executive Director
Mrs. Tarjani Vakil ; Independent Director
Mr. Venkatesh Mysore; Non - Executive Director
Investment Committee
Finance Committee
Awards
Awards showcase
2.
OOutlook Money Awards 2004
BSLI - Best Life Insurer
(Runner Up) 2004 TROPHY.
1.
3.
7.
Programme Overview
Our Commitment
Individual Solutions
At Birla Sun Life Insurance, we look at life from your perspective.
Hence, no matter what your dreams are - be it long term protection, wealth
creation, health, retirement security or your children’s education, we provide
you customised insurance solutions to meet all your Life needs successfully.
Retirement Solutions:-
Gratuity:-
SuperAnnuation:-
Leave Encashment:-
Birla Sun Life Insurance Group Protection Solutions provide the benefit
of an insurance cover to an entire group of people as a single unit.
• Employer employee:-
• At Birla Sun Life Insurance (BSLI), our goal is to help you ensure
your employees’ well being so that they can enhance their
performance & potential. Our protection solutions combine new
innovations in organizational benefits with the traditional strength of
employee assistance to help you:
• Affinity:-
Rural Insurance
A large population of India lives in the rural areas. The impact of risks
associated with life and health are far more severe on this population as
compared to the urban population with higher levels of income.
Birla Sun Life launched its rural program in 2001 to provide insurance to
the rural populace of India. This includes the endowment product that
provides life cover and guarantees returns to the insured on maturity. By
virtue of the benefits it provides, this product has been very well accepted
and has gone on to become the most popular product in the rural areas.
NRI Solutions
So whether you have planned a hectic retirement where you will start the
business venture of your dreams or a leisurely retirement just tending to your
backyard garden; you do need the resources to ensure that your golden years
are the best part of your life.
The cost of retirement can be considerable, a cost that you need to start
planning as early as possible. Each year the cost of living increases and as
you get older this cost will only get higher. You need to account for the price
rise so that your savings can support you in your retirement.
Retirement planning is all about knowing what you want and being
disciplined towards achieving it. These days, with life expectancy being
higher, life’s goals being wider, you need to ensure that you have enough in
your account to take care of you in those days of leisure.
Unit linked retirement plans offer you flexibility to choose the investment
tenure, investment portfolio (fund options) and the amount that you pay
regularly. You should choose your investment portfolio depending on your
risk appetite and years remaining in your retirement. Ideally as you get
nearer to the day when you would quit working you should reduce your
exposure to risky investments for example equity and equity associated
funds. Choosing the right retirement fund ensures that you can remain worry
free when the time comes to enjoy your golden period.
Health & Wellness Solutions
A sudden medical emergency has the potential to derail even a well made
financial plan and throw your finances into complete disarray. Lack of
instant access to funds could, at times, force you to compromise on the
quality of medical treatment, which would be an unfortunate but easily
avoidable situation.
Health costs are rising at alarming rates and consuming a larger share of
your monthly expenses than ever before. It is then, only wise to have a plan
to ensure that you and your family are never left in the want of funds, when
a contingency arises.
Secondary Sources:-
www.birlasunlifeinsuranceindia.com
www.birlasunlifeinsurance.co.in
Bibliography
Company Profile
Protection Solutions
Rural Insurance