1000 young minds from B-Schools across nation participated
Agency
NATIONAL, May 01, 2024: SBI Life Insurance, one of the most trusted private life insurance companies in the country, launched the 1stedition of ‘IdeationX’, a pioneering initiative that promises to revolutionise the future of the insurance industry. The innovative platform aims at engaging and encouraging future leaders from B-Schools across the country to think innovate and presents unconventional life insurance solutions that address consumer’s evolving insurance needs and contribute towards reshaping India’s life insurance sector landscape.
The key objective behind this initiative is to involve the young minds who are the future leaders of the country, to identify various insurance needs and conceptualize product solutions addressing those needs.
India's impending ascent to become the 3rd largest economy by 2030 presents a vast opportunity for the life insurance industry. With an insurance penetration of3% in India, there is an immense growth potential, offering financial security, digital transformation, job creation and income generation to millions.
In alignment with IRDAI's vision of "Insurance for All by 2047”, SBI Life’s ‘IdeationX’ aims to involve, inspire& empower the young minds by nurturing a culture of innovation and thought leadership that would prove beneficial for consumers and for the sector, in the long run.
The inaugural edition of SBI Life- IdeationX witnessed enthusiastic participation from over 1000 young minds representing B-Schools such as NIA in Pune, NIRMA in Ahmedabad, SIES in Mumbai, KJ Somaiya in Mumbai, IMI in Kolkata, BML Munjal in Gurgaon, IMT in Hyderabad, and XIME in Bangalore.
Around 320 budding students were selected post the screening test and the final round consisted of eight teams of five members in each team. From these eight finalist teams, XIME-Bangalore emerged as the winner claiming the coveted title of SBI Life Ideation X winner, for its unconventional idea that aims to address unique insurance needs of today’s consumers and the industry at large.
https://indigenousherald.com/