13, Dec 2023
Hyderabad, 13th December 2023: Serving its first mandate as lead life insurer of Telangana, Shriram Life Insurance today launched an insurance awareness campaign; ‘Fuelling Dreams, Powering Education’, in Zila Parishad High School (ZPHS) in Shivarampally in Rangareddy district. Shriram Life Insurance MD & CEO Casparus Kromhout donated library books to school principal M Kishan during the school assembly.
Through this campaign Shriram Life Insurance emphasizes the importance of grassroots education, a critical force that empowers children across communities to make meaningful and informed decisions in life. The initiative was also conducted in commemoration of the Shriram Group’s Golden Jubilee Year which falls in April next year.
Shriram Life Insurance MD & CEO Casparus J H Kromhout said, “As we celebrate our Group’s 50-year journey, we are reflecting on our commitment as an insurer to the public. As lead life insurer for Telangana, our commitment goes beyond business and extends to community welfare. This campaign has helped us reach out to young people who will be key decision-makers of tomorrow. It is important to educate people living in rural areas on the importance of life insurance and how it will serve to protect families in times of vulnerability. In line with this commitment, we are proud to donate books to ZPHS Shivarampally, a school that has one of the largest student populations in the district.”
‘Fuelling Dreams, Powering Education’ was organized as a bike rally led by Casparus Kromhout, MD & CEO of Shriram Life Insurance, and other several senior leaders, accompanied by fifty team members of the company. Covering 24km the rally served as a platform for spreading insurance awareness, and community engagement as well as in building a roadmap for insurance inclusion. Shriram Life Insurance hopes to encourage more people to come forward to insure their lives, thus aligning with IRDAI’s mandate of ‘Insurance for All’ by 2047.
With its purpose to provide insurance coverage to all segments of the society, especially in the more vulnerable areas, Shriram Life has been able to reach and serve an increasing number of customers attaining a growth of 30% in retail new business premium and 24% in retail policies sold up to November 2023. Last fiscal, Shriram Life recorded a claim settlement ratio of 97.4%, settling non-investigated claims within 12 hours depending on the last document received (LDR).