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Aditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 63,750 employees, the businesses of ABCL have a nationwide reach with over 1,712 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,712
No. of Employees
63,750+
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 5.50 Lakh Cr
Active Customer Base
39 Million
Consolidated Lending Book
INR 1.78 Lakh CrFind customised home loan solutions for your unique needs
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Aditya Birla Capital Limited
Aditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 63,750 employees, the businesses of ABCL have a nationwide reach with over 1,712 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,712
No. of Employees
63,750+
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 5.50 Lakh Cr
Active Customer Base
39 Million
Consolidated Lending Book
INR 1.78 Lakh CrCorporate Governance Policies
Financial and Debt-Related Policies
Business and Partnership Policies
Money management made easy
Understanding direct and indirect taxes
Know how to plan retirement well
Insurance and it's aspects for laymen
Investments and their jargon - simplified
Know all about loans and their management
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Calculate the tax payable by you based on your income
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Calculate the Life Insurance cover you need to secure your family’s future
Life Insurance
Health Insurance
Home Finance
Personal Finance
To lead and manage operations for Bancassurance partner across the customer lifecycle to meet the companies long term strategic objectives of growing business by providing a competitive edge on our process capabilities with higher efficiency in the era of open architecture
Job Context:/Job Challenges:Aditya Birla Sun Life Insurance Co. launched its life insurance business in India in March of 2000 with a vision to create long term value along with market leadership, to help people mitigate risks of life, accident, health and enhance the financial future of customers, including enterprises.
ABSLI is one of the leading players in the Private Life Insurance Industry in India today. Pioneers of the unique Unit Linked Life Insurance Solutions in India, they have been focused on investment Linked Insurance Products, supported with protection products to maintain leadership in product innovation
The Indian insurance sector is showing signs of revival and growth over the last 2-3 years after a period of stagnation since 2010. New business premiums is stated to grow at a rate of 15% year on year which is higher than the nominal GDP growth. This growth will be dependent on growth in GDP and Capital Markets, adoption of Open Architecture by the Banks, any new Commission Guidelines by the regulator (IRDA) and consolidation of players in the industry. This industry is also seeing significant increase in transparency with listing of some of the prominent LI players in the industry. Currently there are 24 Life Insurance players in the industry.
The lower level of protection penetration and protection gap also makes investors bullish about the Life Insurance businesses is India. India’s life insurance penetration stood at ~2.7% in 2016, compared with ~4.4% in 2010. The average penetration for the life insurance industry globally is 3.5% as of 2016 which is 75 bps more than the Indian life insurance industry. The protection gap for India stood at US$ 8.5 trillion as of 2014, which was much higher compared to its Asian counterparts. The protection margin for India was the highest amongst all the countries at 92% in Asia Pacific, as per a Swiss Re report. This means that for US$ 100 of insurance protection requirement, only US$ 8 was actually insured as of 2014. This indicates inadequate pure protection coverage (term insurance) for a large part of the population in Indian subcontinent.
Another factor that will create further opportunity for Life Insurance in India is the presence of the highest Insurable population. Currently, India is one of the youngest nations, with a median age of 28 years. 90% of Indians will still be below the age of 60 by 2020 and 63% are expected to be between the age of 15-59. Comparatively, the US, China and Brazil had 74%, 62% and 78% of the population below the age of 60 (as of 2012). The number of individuals in the age of 25-49, which is the target population for the industry, is increasing in India and would boost industry growth. A large share of the working population, coupled with rapid urbanization and rising affluence, is expected to propel Indian life insurance sector growth. (Source: CRISIL Report)
| KRA (Accountabilities) (Max 1325 Characters) | Supporting Actions (Max 1325 Characters) | |
|---|---|---|
| KRA1 | Designing & driving an effective & efficient operating model to meet the partner & organizational objectives including experience & cost leadership | Designing of the operating model, identification of opportunities to provide competitive advantage & ensure continuous augmentation & redesign to keep it relevant to the dynamic environment. Drive cost leadership through efficiency across the value chain. |
| KRA2 | Design, partner & facilitate digitization based technology framework | Co-Designing, driving & facilitating digital initiatives to create a fully digital ecosystem. Design & drive technology based solutions to eliminate inefficiencies & optimize resources. |
2 - 4 years
Graduate Diploma