SBI Life Insurance has launched IdeationX, an initiative that aims to engage and courage future leaders from B-Schools.

IdeationX wants students from these schools to think, innovate and present unconventional life insurance solutions that address consumers’ evolving needs.

The key objective for SBI Life and IdeationX is to involve young minds who are the future leaders of India and to identify insurance needs and their product solutions.

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.

Furthermore, around 320 students were selected post the screening test and the final round consisted of eight teams of five.

XIME-Bangalore emerged as the winner claiming the coveted title of SBI Life IdeationX winner.

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Mr. Subhendu Bal, chief actuary & chief risk officer, SBI Life Insurance, said: “We are humbled by the overwhelming response for the very first edition of SBI Life IdeationX, the one-of-its-kind initiative that catalyses creative forces of B-School students across the country to innovate out-of-the-box solutions for insurance sector. The extraordinary ideas presented by the budding students showcases the importance of platforms which encourage early initiation into problem solving and creative thinking to spring-board management students as industry leaders.”

He further added: “To realise the regulator’s vision of Insurance for all by 2047, it is imperative that we inspire the future leaders to draw up the map for universal insurance coverage. IdeationX has witnessed the commendable passion and dedication of our nation’s young individuals who have showcased exceptional creativity and ingenuity. Their ideas not only have the potential to reshape the life insurance landscape but also to stimulate the socio-economic fabric of our nation. Together, we are not just securing lives; we are shaping a future where insurance becomes a cornerstone of financial planning for every individual and enterprise in the country.”