Star Union Dai-ichi Life Insurance (SUD Life) marked its 17th Foundation Day on 9th February, outlining its agenda for the next phase of growth. Guided by the spirit of Ek Saath (17), the company is sharpening its focus on faster claims settlement, wider market reach, personalised products, and technology-led customer engagement.
SUD Life, among the top five life insurers in India in terms of claim settlement ratio (claims received within 30 days and settled), said it aims to move further up the rankings (if the target is to reach the top 3 pls mention) by further strengthening its claims processing and service capabilities. In 2024–25, the insurer settled 99.25 per cent of the claims received within 30 days. (Source: Handbook on Indian Insurance Statistics 2024-25, IRDAI)
Besides delivering industry leading claims performance, SUD Life recorded strong growth across key business parameters, including Retail Effective Premium Income (EPI), group premium and renewal premium, driven by deeper customer engagement across markets.
During their 17 years of operations, SUD Life continued to broaden their distribution footprint beyond bancassurance, which remains their core growth engine. The insurer further strengthened alternate channels particularly brokers, corporate agents and partnership with digital platforms, enabling deeper penetration into India’s hinterlands and emerging markets.
Its presence now spans 171 branches, including GIFT City, and over 20,000 promoter bank branches, covering both urban and rural India.
The company’s product portfolio spans savings, protection, health, child, retirement and wealth creation solutions, aligned to evolving customer needs. During the year, SUD Life saw rising demand for protection-oriented and customised covers, retirement solutions offering long-term security, and market-linked plans.
Technology continues to be the cornerstone of SUD Life’s growth strategy. The insurer invested in AI-led calling, WhatsApp-based nudges, propensity-driven lead management, and digital onboarding journeys, significantly shortening purchase and servicing timelines. It also deployed technology-led tools to detect and prevent fraudulent activities and strengthened controls to protect genuine policyholders and improve the overall trust in the system.
The company has also implemented real-time underwriting models using predictive analytics, enabling faster policy issuance in select categories. Its revamped partner portal has improved distributor productivity, while their holistic wellbeing offering – ‘You Matter’ app continues to lead engagement through wellness, health and financial education.
Commenting on the milestone, Abhay Tewari, Managing Director & CEO, Star Union Dai-ichi Life Insurance, said: “While SUD Life has delivered significant achievements in its 17 years of operations, our focus is firmly on the road ahead. Our journey from being the 23rd entrant to becoming one of the top 10 life insurers is built on the dedication and perseverance of everyone at SUD Life. Together we will continue to protect families, enrich lives, and build a legacy of trust and impact.”
Looking ahead, SUD Life said that it will continue to diversify distribution, strengthen its protection portfolio, build need-based products, and embed automation and AI across various functions. Ek Saath, the company aims to deliver faster service and build enduring customer relationships.