Star Union Dai-ichi Life Insurance
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Star Union Dai-ichi Life Insurance trading as SUD Life[2] is a life insurance provider with its headquarters in Vashi, Navi Mumbai, offering individual and group insurance services. Founded in 2009, the company is a joint venture between two of India's public sector banks: Bank of India (28.96%) and Union Bank of India (25.10%), and Dai-ichi Life Holdings (45.94%), a Japanese life insurance company.
Presence & Distribution[edit]
SUD Life distributes Life insurance products catering to insurance needs of: Protection, Wealth creation, Savings and Retirement. It has presence in 700 districts out of 718 districts in India through its partner bank branches customers of these distribution points are serviced through 150+ offices of SUD Life across the country.[3][4]
Products and services[edit]
SUD Life is one of the largest providers of the Government of India’s Pradhan Mantri Jeevan Jyoti Bima Yojana scheme. It sells its products via bancassurance partners, direct channel and corporate agents.
- Protection plans - provides protection and financial stability to the family in case of any unforeseen events
- Saving plans - helps in saving corpus to achieve future financial goals
- Wealth plan - provides the opportunity to grow investment as well as protects the family against uncertainties
- Retirement plan - provides financial security for life, post-retirement
- Child plan - helps to meet children's future needs like higher education and marriage expenses
Financials[edit]
- Star Union Dai-ichi Life Insurance declared maiden profit of Rs. 12.87 crore in its sixth full year of operations in 2014-15 with a total premium income of Rs. 1,135 crore.[5][6][7]
Advertising Campaing[edit]
Roti, Kapda aur Makaan ke saath BimaHaiZaroori: The campaign was launched in March 2020 to spread awareness on the importance of Life Insurance along with the basic needs of Roti, Kapda, and Makaan.[8]
Awards & Recognitions[edit]
- APAC Gartner Innovation Awards, 2020[9]
- Best Governed Company (Unlisted Segment: Medium Category) for the 19th ICSI National Awards for Excellence in Corporate Governance[10]
- Golden Peacock Award for Excellence in Corporate Governance 2017 awarded by Institute of Directors, 2017[11]
- Corporate Governance Excellence Awards by Assocham, 2015[12]
- Best Life Insurance Company in Private Sector at BFSI Awards by ABP News, 2015[13]
- Company with highest Claims Settlement at BFSI Awards by ABP News, 2015 [13]
- Award for Excellence in HR through Technology by Ascent, 2015 and 2014[14]
- Sustainable and Balanced Business Performance by SKOCH Order of Merit, 2014[15]
- Excellence in Financial Reporting by ICAI, 2014[16]
- Bancassurance Leader of the Year Award at The Indian Insurance Awards, 2014[17]
References[edit]
- ↑ "Abhay Tewari appointed as MD & CEO of Star Union Dai-ichi Life". https://www.media4growth.com/ (Press release). Retrieved 2021-06-03. External link in
|website=(help) - ↑ "Life Product". www.irdai.gov.in. Retrieved 2020-11-07.
- ↑ "Star Union Dai-ichi Branch Locator - Address & Contact Details". MyInsuranceClub. Retrieved 2021-06-03.
- ↑ "Branch Locator - Star Union Dai Ichi Life Insurance". www.oneinsure.com. Retrieved 2021-06-03.
- ↑ "SUD Life posts first profit of Rs 12.87 cr in 6 years" (Press release). Press Trust of India. 2015-05-06. Retrieved 2020-11-21 – via Business Standard India.
- ↑ Kulkarni, Girish (2015-05-11). "We're now more prepared to raise the bar: Girish Kulkarni". Business Standard India (Interview). Interviewed by M. Saraswathy. Retrieved 2020-11-21.
- ↑ "Star Union Dai-ichi Life Insurance Company posts first profit of Rs 12.87 crore in 6 years" (Press release). Retrieved 2020-11-21 – via The Economic Times.
- ↑ "Star Union Dai-ichi Insurance urges people to remember that 'roti, kapda aur makaan ke saath #BimaHaiZaroori'" (Press release). 2020-03-12. Retrieved 2020-11-21 – via The Financial Express.
- ↑ "Gartner Announces Asia Pacific Winners of the 2020 Gartner Eye on Innovation Award". Gartner (Press release). Retrieved 2020-11-21.
- ↑ Bureau, BW Online. "ICSI National Awards For Excellence In Corporate Governance Held In New Delhi". BW Businessworld. Retrieved 2020-11-21.
- ↑ "Excellence in Corporate Governance (GPAECG)". goldenpeacockaward.com. Retrieved 2020-11-21.
- ↑ http://www.assocham.org/downloads/?filename=1456223377.pdf
- ↑ 13.0 13.1 https://www.worldhrdcongress.com/HRD/Media-Pdf/media-coverage-2015.pdf
- ↑ "World HRD Congress 2021". www.worldhrdcongress.com. Retrieved 2020-11-21.
- ↑ "SKOCH Renaissance Awards 2014 – Awardee List". Unknown parameter
|url-status=ignored (help) - ↑ "Star Union Dai-ichi Life Insurance wins 'Financial Reporting Excellence' award for the second consecutive year". Retrieved 2020-11-21.
- ↑ "Star Union Dai Ichi Life Insurance company". Star Union Dai Ichi Life Insurance company. Retrieved 2020-11-21.
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