The unique initiative empowers students to drive innovations in the life insurance sector
MUMBAI, India, July 16, 2025 /PRNewswire/ — SBI Life Insurance, one of India’s most trusted life insurance companies, has launched the second edition of its flagship innovation initiative ‘IdeationX 2.0’. SBI Life’s IdeationX is a platform that empowers young talent to innovate and co-create solutions for real-world challenges in the life insurance industry. Now in its second edition, IdeationX 2.0 is encouraging promising talent from India’s top 100 B-schools to contribute meaningfully to the nation’s mission of ‘Insurance for All by 2047.’
IdeationX was launched as an exclusive initiative for B-Schools with the goal of fostering collaboration between the industry and the nation’s future business leaders. The second edition promises to be significantly bigger, reaching out to top 100 B-schools across India and engaging over 25,000 students. This initiative not only encourages the country’s innovative young minds but also provides exposure to a larger opportunity of contributing towards the growth of the life insurance sector in the country.
As a part of this initiative, SBI Life launched its campus engagement drive on 15th July 2025. The engagement drive will cover leading B-schools across the country including NIMNS, IIM Lucknow, IIM Kozhikode, Xavier Institute of Management Bhubaneshwar, among others, through a mix of on-ground activations and virtual engagements.
The registration window of the microsite https://sbilifeideationx.com/ is LIVE for the top 100 B-Schools and select undergraduate colleges of India.
During this drive, the senior leadership of SBI Life Insurance including Mr. Ravindra Sharma, Chief of Brand, Corporate Communications and CSR will be interacting directly with the students to exchange ideas and encourage participation. Through this engagement, the company aims to promote innovation at the college level, encouraging the development of ideas that could potentially shape the future of the insurance industry and support the nation’s broader financial inclusion goals.
Sharing his thoughts on the initiative, Mr. Ravindra Sharma, Chief of Brand, Corporate Communications and CSR, SBI Life Insurance, said, “Despite the growth in business numbers year-on-year, India’s overall insurance penetration remains less than 4%. As we move forward in our attempts to increase insurance penetration in the country, SBI Life believes that while technology, AI and innovation will be the key factors for growth, our focus through the IdeationX initiative is about generating scalable solutions created by young minds who are future leaders of the country.”
He further added, “With the theme of ‘Insurance for All’, IdeationX 2.0 is in effect liberating the ingenuity of India’s brightest minds, to ideate, innovate and co-create solutions for the nation’s aspiration of ‘Insurance for all by 2047’. As we tap into 25,000 students from the country’s top 100 B-schools, we sincerely hope this opportunity to solve real-world challenges excites the young minds to participate wholeheartedly, unfettered by any real-world constraints.”
By creating opportunities for young professionals to engage with real-world challenges and contribute directly to the category’s growth, SBI Life is driving awareness, consideration, and future brand affinity among an influential demographic. The initiative is also a strategic step toward building deeper relevance and long-term trust with the younger customer base, who are beginning their financial journeys and shaping the economic future of the country.
About SBI Life Insurance:
SBI Life Insurance (‘SBI Life’ / ‘The Company’), one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001.
Serving millions of families across India, SBI Life’s diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions.
Driven by ‘Customer-First’ approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors and employees alike.
SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 1,110 offices, 26,355 employees, a large and productive network of about 240,304 agents, 60 corporate agents and 13 bancassurance partners with more than 41,000 partner branches, 141 brokers and other insurance marketing firms.
In addition to doing what’s right for the customers, the company is also committed to provide a healthy and flexible work environment for its employees to excel personally and professionally.
SBI Life strongly encourages a culture of giving back to the society and has made substantial contribution in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2024-25, the Company touched over 50,000 direct beneficiaries through various CSR interventions.
Listed on the Bombay Stock Exchange (‘BSE’) and the National Stock Exchange (‘NSE’), the company has an authorized capital of Rs. 20.0 billion and a paid-up capital of Rs. 10.0 billion. The AuM is Rs.4,480.4 billion.
For more information, please visit our website- www.sbilife.co.in and connect with us on Facebook, Twitter, YouTube, Instagram, and LinkedIn.
(Numbers & data mentioned above are for the year ended March 31, 2025)
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Photo: https://mma.prnewswire.com/media/2732464/IdeationX.jpg
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