To promote life insurance innovation, SBI Life Insurance launched IdeationX, a ground-breaking programme. Through this programme, prospective leaders from leading business schools are encouraged to come up with novel ideas to meet changing needs of customers in the insurance industry.
Using B-Schools To Inspire Innovation
IdeationX encourages students at nationally recognised B-Schools to think outside the box and come up with novel ideas for life insurance.
Success Of The First Edition
More than one thousand students from prominent B-Schools, including NIA, NIRMA, SIES, KJ Somaiya, IMI, BML Munjal, IMT, and XIME, participated in the first edition. After a thorough screening process, eight teams of five students total—320 students—moved on to the final round.
The Winner Is XIME-Bangalore
XIME-Bangalore's winning team won the prestigious title of SBI Life IdeationX champion by demonstrating remarkable inventiveness and problem-solving abilities.
Innovative Perspectives From SBI Life
The chief risk officer and actuary of SBI Life Insurance, Mr. Subhendu Bal, expressed gratitude for the tremendous response to IdeationX. In order to develop future industry leaders, he underlined the value of early problem-solving skills development for management students.
Developing The Insurance Industry's Future
Mr. Bal emphasised how important it is to encourage upcoming leaders to imagine 2047 as the year when everyone will have access to insurance. Highlighting their potential to transform the life insurance market and further the country's socioeconomic growth, he commended the participants' enthusiasm and commitment.
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