Aditya Birla Sun Life Insurance Limited (ABSLI)
| Private | |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | August 4, 2000 |
| Founder 👔 | |
| Headquarters 🏙️ | Mumbai, Maharashtra, India |
Area served 🗺️ | |
Key people | Kamlesh Rao (CEO and managing director) |
| Revenue🤑 |
|
| 💎 AUM |
|
| Owner | Aditya Birla Capital (51%) Sun Life Financial Inc. (49%) |
| Members | |
Number of employees | |
| Parent | Aditya Birla Capital Ltd (ABCL)[2] |
| 🌐 Website | lifeinsurance |
| 📇 Address | |
| 📞 telephone | |
Aditya Birla Sun Life Insurance Limited (ABSLI) is an Indian life insurance company headquartered in Mumbai, India.[3] It was founded in 2000 as a joint venture between the Aditya Birla Group,[4] a diversified Indian multinational conglomerate based in Mumbai, India, and Sun Life Financial Inc., a global financial services organization in Canada.[5]
The company has over 370 branches across India, with Kamlesh Rao serving as the CEO and managing director of the company.[4]
History[edit]
Aditya Birla Sun Life Insurance was established on August 4, 2000, and began operations in 2001. It operates as a subsidiary of Aditya Birla Capital Ltd (ABCL),[6] the financial services arm of the Aditya Birla Group. ABSLI is a joint venture, with a 51% stake held by the Aditya Birla Group and a 49% stake owned by Sun Life Financial Inc.[7]
By 2001, ABSLI had become the largest private life insurance company in India. The company received the Bhartiya Shiromani Puraskar in 2006, the Silver award in the Insurance category at the ICAI Awards for Excellence in Financial Reporting in 2009, and BS 25999 Certification for its business continuity management system in 2010.[8] In 2011, ABSLI rolled out the BSLI Foresight Plan, followed by its parent company ABCL launcing the BSLI Wealth Secure Life Plan in 2012.[9] In 2022, ABSLI teamed up with Gupshup,[10] WhatsApp, and Karza Technologies for policy issuance services on WhatsApp.[11] In June 2023, ABSLI introduced the ABSLI Nishchit Pension Plan,[12] which was created to assist individuals in planning for their retirement.[13] In August 2023, ABSLI announced the launch of the ABSLI Nishchit Laabh Plan, a non-linked, non-participating individual life insurance savings plan.[14]
In September 2023, ABSLI collaborated with Artivatic.ai[15] to develop a platform aimed at assisting underwriting decisions through data analysis.[16][17]
Financials[edit]
As of September 30th, 2023, ABSLI's total assets under management (AUM) stood at Rs. 70,05,109 Crore. During H1 in FY24, ABSLI recorded a gross premium income of Rs. 6,827 Crore, with the Individual Business First Year Premium (FYP) with Single Premium reaching Rs. 1,347 Crore.[1][18]
References[edit]
- ↑ 1.0 1.1 "Aditya Birla Sun Life Insurance Company Limited - Public Disclosure Forms".
- ↑ Shetty, Mayur (2023-09-06). "Aditya Birla Sun Life Insurance deploys artificial intelligence platform for underwriting policies". The Times of India. ISSN 0971-8257.
- ↑ "Aditya Birla Sun Life Insurance joins Metaverse". The Times of India. 2023-07-29. ISSN 0971-8257.
- ↑ 4.0 4.1 "Aditya Birla Sun Life Insurance announces up to 15% reduction in premium rates of DigiShield". The Economic Times. 2021-08-24. ISSN 0013-0389.
- ↑ "Aditya Birla Sun Life Insurance threatens regulatory intervention for RCap due diligence". BusinessLine. 2022-11-21.
- ↑ "Aditya Birla Sun Life Insurance & Artivatic.ai launches - AI based Smart Underwriting Platform". Express Computer. 2023-09-06.
- ↑ "Aditya Birla Sun Life Insurance Launches Nishchit Pension Plan: Here's How To Apply, Check Eligibility". www.india.com.
- ↑ "Birla Sun Life Insurance receives BS 25999 Certification". Business Standard. Retrieved January 21, 2013.
- ↑ "Birla Sun Life launches unit-linked Foresight Plan". The Economic Times. 2011-03-03. ISSN 0013-0389.
- ↑ "Aditya Birla Sun Life Insurance launches industry's first instant policy issuance service on WhatsApp". Express Computer. 2022-10-31.
- ↑ "Aditya Birla Sun Life Insurance launches policy issuance service on WhatsApp". mint. 2022-10-26.
- ↑ "Aditya Birla Sun Life Insurance rolls out guaranteed pension plan Nishchit". Moneycontrol. 2023-06-23.
- ↑ Bhosale, Kaustubh (2023-06-25). "Aditya Birla Launches New Guaranteed Pension Plan - ABSLI Nishchit Pension Plan". mint.
- ↑ "Aditya Birla Sun Life Insurance launches Nishchit Laabh Plan: Check key features". CNBCTV18. 2023-08-16.
- ↑ "Aditya Birla Sun Life Insurance collaborates with RenewBuy company Artivatic.ai". Financialexpress. 2023-09-06.
- ↑ "Aditya Birla Sun Life Insurance, Artivatic.ai Launch AI-Based Smart Underwriting Platform". NDTV Profit. 2023-09-07.
- ↑ "Aditya Birla Sun Life Insurance deploys artificial intelligence platform for underwriting policies". The Times of India. 2023-09-06. ISSN 0971-8257.
- ↑ "Financial Results and Outcome of the Board Meeting".
External links[edit]
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