SBI General Unveils Bima Central: A Revolutionary Step in Customer Experience

First in Industry to Provide Seamless Servicing of Entire Insurance Portfolio on SBI General Insurance Mobile App

Mumbai, 14th May 2024 – SBI General Insurance Company Limited, one of India’s leading General Insurance companies has collaborated with Bima Central, developed by CAMS Insurance Repository, to introduce the first industry-wide policyholder servicing platform, Bima Central. This platform allows customers to aggregate their insurance portfolio through an electronic Insurance Account (eIA) and conveniently manage it through a one-stop digital platform i.e. BIMA Central.

For the first time in the industry, SBI General Insurance policyholders with an eIA through CAMS Rep Bima Central will be able to access their insurance portfolio directly through the SBI General Insurance Mobile App. Additionally, they can access these services through the Bima Central app.

Mr. Kishore Poludasu, MD & CEO, SBI General Insurance said, “We are excited to unveil a game-changing innovation in the industry with the launch of Bima Central, a unique platform offering seamless management of the entire insurance portfolio on the SBI General Insurance Mobile App. This pioneering initiative underscores our steadfast commitment to enhancing customer convenience and comfort through state-of-the-art technologies. It also positions SBI General as a leader in delivering industry-first innovation through cutting-edge technologies.

By harnessing platforms like Bima Central, we are not just improving access to customer information but also raising the bar in policyholder experience. This progress highlights our dedication to delivering unmatched service and value to our customers, ensuring their insurance requirements are fulfilled smoothly and effectively.”

SBI General Insurance has established a two-way integration with Bima Central, allowing policyholders a single window, integrated access to aggregated insurance benefits for eIA holder. The platform will:

· Provide a consolidated view of insurance protection & investment – Visualizing what you have.

· Making the benefits real (tangible) and visible – insurance delivered as it must.

· The platform currently supports a range of endorsements– includes beneficiaries, nominees & family members with more functionalities being getting added.

SBI General Insurance’s endeavor is to issue all retail line of business policies in electronic format, which can be credited to the respective policyholder’s e-Insurance account (eIA). In cases where policyholders do not already have an eIA, one shall be encouraged to open through Insurance Repository to enable their digital insurance servicing journey.

About SBI General Insurance

SBI General is one of the fastest growing private general insurance companies, with the strong parentage of SBI. We, at SBI General Insurance, are committed to carry forward the legacy of trust and security; with a vision to become the most trusted general insurer for a transforming India.

Ever since our establishment in 2009, our growth has been exponential in various aspects. We have expanded our presence from 17 branches in 2011 to over 143 branches pan-India.

We have been awarded the ‘Domestic General Insurer of the Year’ – India at the Insurance Asia Awards 2023 Singapore. Additionally, we were also recognized as one of the Best Brands 2023 at the ET Edge Best Brands 2023 and one of the Best BFSI Brands at the ET Now Best BFSI Brands Conclave 2024. Furthermore, we were recognised as Highest Growth – General Insurance

runner up at ASSOCHAM 15th Global Insurance Summit & Awards and the winner in the ‘Best Large General Insurer’ category at the Mint BFSI Summit & Awards 2023.

We have a robust multi-distribution model encompassing Bancassurance, Agency, Broking, Retail Direct Channels and Digital tie-ups. The widespread network of distributors like 22518 plus SBI branches, Agents, other financial alliances, OEMs, and multiple digital partners enable us to extend our reach to the pocketed remote areas of India. We offer a bouquet of products spread across various lines of businesses that cater to customers across all segments like Retail, Corporate, SME and Rural, ensuring accessibility via digital as well as physical modes.

SBI General Insurance reported a 17% growth in Gross Written Premium (GWP) in FY 2023-24 and the GWP stood at INR 12,731 crores.

For more details: https://www.sbigeneral.in/