Shriram Life Insurance Conferred with MMA Award for Managerial Excellence 2015

Shriram Life Insurance Company Ltd. (SLIC), the Life Insurance arm of diversified Shriram Group has been conferred with the Madras Management Association (MMA) Award for Managerial Excellence 2015 in Service Sector.

MMA recognized SLIC for excellence in multiple areas, including financial inclusion, customer centric products & Services and business growth.

Shriram Life Insurance Company Limited (SLIC) is engaged in the business of selling life insurance policies through different managerial processes. Shriram Life Insurance Company Limited (SLIC) is the most consistently profitable private life Insurer. It has distinction of being profitable in 9 out of 10 Years of operations. The company is committed to spread the message of financial inclusion and take life insurance to every section of the society.

Commenting on the awards, Mr Manoj Jain, CEO SLIC said; we are proud to receive this prestigious award. Awards like these inspire us to continue grow, bring more and more people under the umbrella of insurance and improve customer value. We saw a surge of 30% in New Business last year and will continue to have similar growth in the current year too.

For FY 14-15, SLIC was ranked 9^th among private players in terms of policy count.

About Shriram Life Insurance:

Shriram Life Insurance Co. Ltd. (SLIC) commenced its operations in 2006, and the Company has already insured nearly 22 lakh lives through of 8 lakh individual policies and group policies. The cumulative new business premium crossed Rs.2500 crores.  We have been able to achieve these landmarks at modest operating expenses & in the process, as we are one of the few profit making private life insurance companies. SLIC has also declared bonus for policy holders in line with IRDA guidelines without additional infusion of capital. Shriram Life Insurance offers a bouquet of products in both the individual and group lines which include Traditional Plans, ULIPs, Single and Regular Premium Products, Group Term Plan, Group Gratuity, EDLI and Micro Insurance plans. Shriram’s forte has been lending / supporting to SME segment and has played a catalystic role in the overall  development of society. SLIC hopes to take this forward through group plans aimed at SME segment.

SLIC Company also won, the prestigious ’Arch of Europe Award’ for its commitment to Quality & excellence. The company was also conferred as ‘Best Life Insurance Company – Insurance Sector’ by ABP News BFSI Awards and Indian Insurance Award for Best Insurance Company for Non-Urban Coverage - Life Insurance.