SBI General Insurance

What SBI General Insurance does

SBI General Insurance Company Limited is one of India's largest private general insurance companies, incorporated in 2010 as a joint venture between State Bank of India (majority shareholder) and Warburg Pincus/Premji Invest (minority). The company underwrites a diversified general insurance book spanning motor (cars, two-wheelers, EVs with add-ons like Engine Guard, Battery Guard, Zero Depreciation, Roadside Assistance), health (flagship Health Alpha, Super Health, Super Top-Up, Arogya Top-Up, critical illness, maternity, family and senior plans), personal accident, fire, travel, home (Griha Raksha Plus, Bharat Griha Raksha), cyber (Cyber VaultEdge), and crop insurance under the government-backed Pradhan Mantri Fasal Bima Yojna. It also runs a Hospital Daily Cash Benefit plan with Starfin India for low-income households. Distribution is anchored by the State Bank of India branch network (bancassurance), supplemented by corporate agents, brokers, agents, the Roinet 'Kavach' rural POSP platform, the IRDAI Bima Sugam marketplace, and self-serve digital channels.

The company's technology core is SIMBA, a proprietary digital platform that processes 95% of business end-to-end (quote, purchase, claims), with mobile apps on iOS and Android, an ISO 27001-certified website, Account Aggregator integration, and the BIMA ASBA premium-on-issuance payment mechanism. Infrastructure includes 18,324 network hospitals, 8,755 network garages, and 140+ physical locations serving 14+ crore customers. The company holds ISO 27001, ISO 22301, and follows ISO 31000 risk-management guidelines.

Revenue is generated through insurance premiums (Gross Direct Premium of INR 15,904 crores in FY26, up 14.5% YoY), with a portfolio mix of ~35% motor, ~24% health, ~12% personal accident, ~12% fire, and ~12% crop. Profit After Tax reached INR 553 crore in FY26 on a 78.3% loss ratio (improved from 82.4%) and a 2.12x solvency ratio. The company is privately held but has filed an IPO plan with IRDAI and is undergoing ownership consolidation as Warburg Pincus's ~10% stake is in talks to transfer to Premji Invest and SBI at a valuation of up to $4.5 billion.

Name

SBI General Insurance

Legal name

SBI General Insurance Company Limited

Website

https://sbigeneral.in

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

SBI General Insurance is an Indian private general insurer and SBI majority-owned joint venture underwriting motor, health, personal accident, fire, travel, home, cyber, and crop insurance, distributed via the State Bank of India branch network and the SIMBA digital platform serving 14+ crore customers across 140+ locations.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Health and Medical Insurance Carriers (524114)

SIC

Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321)

akta.pro primary industry

Mid-Market Commercial Package (Package Policies) (FSAJAFAB)

akta.pro secondary industries

Commercial Auto & Fleet Insurance (FSAJAMAB), Commercial General Liability (CGL) (FSAJADAA)

Keywords

• General insurance products
• Health insurance plans
• Motor insurance coverage
• Travel insurance policies
• Crop insurance schemes

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Insurance Premiums - Motor: Motor insurance products including car and two-wheeler insurance, contributing approximately 35% of overall portfolio. Growth of 16% in FY26 with segment outpacing industry average.
2. Insurance Premiums - Health: Health insurance products including Health Alpha, Super Health, and Super Top-Up plans, contributing approximately 24% of portfolio with 27% growth in FY26.
3. Insurance Premiums - Personal Accident: Personal accident insurance maintaining No. 1 position in the segment, contributing approximately 12% of portfolio with 40% growth in FY26.
4. Insurance Premiums - Fire: Fire insurance for commercial and residential properties, contributing approximately 12% of portfolio with 10% growth in FY26.
5. Insurance Premiums - Crop (PMFBY): Crop insurance under Pradhan Mantri Fasal Bima Yojna, contributing approximately 12% of portfolio.
6. Other Insurance Products: Travel, home, and cyber insurance products including Cyber VaultEdge

Go-to-market motion3 records

Distribution channels8 records

Marketing channels7 records

Core offering

SBI General Insurance Company Limited offers a wide range of general insurance products in retail and commercial space, including motor (car and two-wheeler), health, personal accident, travel, home, cyber, fire, and crop insurance. The company distributes through bancassurance with State Bank of India, its proprietary SIMBA digital platform, mobile apps, agents, brokers, and rural POSP networks. It serves over 14 crore customers across 140+ Indian locations with a network of 18,324 hospitals and 8,755 garages, generating Gross Direct Premium of INR 15,904 crores in FY26.

Product overview

SBI General Insurance offers a comprehensive general insurance product portfolio organized across multiple categories: Health Insurance (including Health Alpha, Super Health, Super Top-Up, Arogya Top-Up, Critical Illness, Maternity, and family health plans), Motor Insurance (Car and Two Wheeler with various add-on covers), Travel Insurance, Home Insurance (Griha Raksha Plus, Bharat Griha Raksha), Cyber Insurance (Cyber VaultEdge), and Crop Insurance (PMFBY). The company operates through its proprietary SIMBA digital platform that drives 95% of business operations. The Health Alpha flagship product leads the retail health segment with over 50 customizable coverage options and sum insured ranging from INR 5 Lacs to unlimited. Motor insurance products feature multiple add-on covers including Engine Guard, Battery Guard for EVs, Zero Depreciation, and Roadside Assistance. The company distributes through multiple channels including bancassurance (leveraging State Bank of India's branch network), corporate agents, and digital platforms.

Differentiator

Problem solved

Functional benefit

Brands

• Health Alpha: Flagship retail health insurance product offering unlimited flexibility with over 50 coverage options and sum insured ranging from INR 5 Lacs to unlimited. Features include up to 10x Cumulative Bonus, Gym & Sports Injury Cover, and long-term policy options of up to five years.
• Super Health
• Super Top-Up
• Griha Raksha Plus
• Bharat Griha Raksha
• Cyber VaultEdge

Products and services

• Health Alpha Flagship retail health insurance product offering unlimited flexibility with over 50 coverage options and sum insured ranging from INR 5 Lacs to unlimited. Features include up to 10x Cumulative Bonus, Gym and Sports Injury Cover, OPD cover, gender reassignment, assisted reproduction, global treatment abroad, and long-term policy options up to five years. Designed for urban residents with active lifestyles.
• Super Health Insurance Health insurance plan offering wellness benefits including gym coverage and sports injury protection, with Prime Plan variant available. Provides cashless hospitalization benefits for individuals and families.
• Super Top-Up Health top-up insurance plan providing additional coverage beyond existing health insurance policies, offering enhanced protection against high medical costs for individuals and families.
• Arogya Top up Policy Top-up health insurance policy providing additional coverage for medical expenses beyond basic policy limits at affordable premiums.
• Critical Illness Insurance Policy Health insurance policy providing lump sum benefit upon diagnosis of specified critical illnesses, offering financial protection against serious medical conditions.
• Maternity Health Insurance Health insurance coverage for maternity-related medical expenses including prenatal, delivery, and postnatal care.
• Individual Health Insurance Personal health insurance coverage for individuals, providing protection against medical expenses with customizable coverage options. Available at 0% GST following the September 2025 GST exemption.
• Family Health Insurance Floater health insurance plans covering entire families under a single policy, offering comprehensive protection at affordable premiums. Available at 0% GST following the September 2025 GST exemption.
• Parents Health Insurance Health insurance plans specifically designed for senior citizens and parents, covering age-related health conditions and medical needs.
• Car Insurance Comprehensive car insurance coverage including own damage, third-party liability, and add-on covers such as zero depreciation, engine protection, roadside assistance, and key protection for private car owners.
• Two Wheeler Insurance Two-wheeler insurance coverage including comprehensive insurance, own damage cover, and third-party liability with add-on options such as zero depreciation, engine protection, and roadside assistance for two-wheeler owners.
• Travel Insurance (Business & Holiday) Travel insurance coverage for both business and holiday travelers, providing protection against travel-related risks including trip cancellations, medical emergencies, and baggage loss. GST exempt since September 2025.
• Griha Raksha Plus Home insurance policy providing coverage for residential properties against damages from fire, natural disasters, theft, and other covered perils, with tax benefits under Section 80D.
• Bharat Griha Raksha Affordable home insurance product under the Bharat series, providing essential coverage for residential properties against common risks and perils.
• Cyber VaultEdge Comprehensive cyber insurance protection covering social media trolling, stalking, identity theft, and other cyber risks for individuals and businesses concerned about digital threats and cyber breaches.
• Pradhan Mantri Fasal Bima Yojna (PMFBY) Crop insurance scheme under government initiative providing coverage for farmers against crop losses due to natural calamities, pests, and diseases.
• Hospital Daily Cash Benefit Plan Hospital daily cash benefit plan offered in partnership with Starfin India, providing fixed daily cash benefits during hospital stays due to illness or accidents, along with coverage for accidental death and partial disability. Claims processed through a tech-enabled platform. Targeted at low-income families in India.

Quantifiable outcome

• Motor insurance growth of 16%, outpacing industry average
• +4 more outcomes

Named customers4 records

Segments8 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Pankaj Tripathi (Brand Ambassador)coreGTM or Marketing Partner · 8 April 2026Actor Pankaj Tripathi appointed as Brand Ambassador for SBI General Insurance. Launched integrated brand campaign titled 'Chuniye Bharosa, Apno Sa' featuring a new health insurance film. Campaign amplified across print, TV, OOH, OTT, and social media platforms.
• Roinet Insurance BrokerscoreChannel Partner/ Reseller/ Distributor · 10 March 2026Roinet Insurance Brokers' Kavach platform integrates with SBI General Insurance for motor insurance distribution. The platform targets rural and semi-urban India through a network of 70,000+ last-mile point-of-sale persons. POSPs can quote, compare, and issue policies within 3 minutes, creating monthly income streams of Rs 2,000 to Rs 10,000 per POSP.
• Starfin IndiacoreChannel Partner/ Reseller/ Distributor · 30 June 2025SBI General Insurance and Starfin India partnered to launch a hospital daily cash benefit plan targeting low-income families in India. The plan provides fixed daily cash benefits during hospital stays due to illness or accidents, along with coverage for accidental death and partial disability. Claims are processed through a tech-enabled platform.
• TBWA LintasminorGTM or Marketing PartnerTBWA Lintas conceptualized and executed the 'Chuniye Bharosa, Apno Sa' integrated brand campaign for SBI General Insurance featuring Pankaj Tripathi.

Scale indicators10 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Tata AIG General Insurance: Tata-AIG joint venture offering motor, health, commercial, and specialty insurance. Comparable JV structure with a major corporate parent and similar product breadth across P&C and health.
• ICICI Lombard General Insurance: One of India's largest private general insurers offering motor, health, fire, and personal accident cover through bancassurance, agency, and digital channels. Directly comparable multi-line P&C portfolio with publicly listed parent.
• Bajaj Allianz General Insurance: Major private general insurer offering motor, health, home, and commercial lines via agency, banca, and digital channels. Comparable diversified P&C portfolio with strong retail health and motor franchises.
• HDFC ERGO General Insurance: Private general insurer serving retail and commercial customers with motor, health, and specialty lines. Strong distribution through HDFC Group bank and broker networks; comparable multi-channel P&C model.
• Reliance General Insurance: Private general insurer with strong bancassurance and motor presence. Comparable retail P&C portfolio with emphasis on motor and health; recently went through ownership transition.

Broad incumbents

• New India Assurance Company: India's largest state-owned general insurer and the dominant market leader. Competes across the same motor, health, and fire lines but with much larger scale and broader agency network.
• United India Insurance Company: Public-sector general insurer with broad agency and bancassurance network. Comparable P&C product portfolio across motor, health, fire, and crop; state-owned distribution scale.
• Oriental Insurance Company: Public-sector general insurer covering motor, health, fire, and crop lines. Competes in the same retail and commercial segments with state-distribution scale; relevant market-share comparator.

Emerging players

• Go Digit General Insurance: Digital-first, publicly listed general insurer focused on motor and health with embedded distribution. Comparable target segments (motor, health) but distinctly tech-led and rapidly scaling through platform partnerships.
• Acko General Insurance: Tech-led digital insurer offering motor, health, and travel products. Comparable retail lines with strong digital UX, challenging incumbents on price and convenience in motor and health.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/sbigeneral
• YouTubeyoutube.com/user/sbigeneralinsurance
• Facebookfacebook.com/SBIGENOfficial
• LinkedInlinkedin.com/company/sbigeneral
• Instagraminstagram.com/sbigeneral

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SBI General Insurance