Shriram Life Insurance

What Shriram Life Insurance does

Shriram Life Insurance Company Limited is a Hyderabad-headquartered private life insurer incorporated in 2005 and regulated by IRDAI (Regn. No. 128, CIN: U66010TG2005PLC045616). The company underwrites a broad product portfolio spanning savings plans, retirement and pension plans (including PFRDA-empanelled annuities), child education plans, ULIPs, term insurance, microinsurance, government schemes (PMJJBY), group/employee benefit plans, and an extensive rider catalogue covering critical illness, accident, and women's health risks. Technology underpins a hybrid distribution model: 651 physical branches across India complemented by an online portal, mobile apps on iOS and Android, DigiLocker integration for policy documents (from March 1, 2024), and WhatsApp-based customer service, with paperless online policy purchase in under five minutes and digital claims intimation.

The business model is built on recurring life insurance premiums collected through licensed agents, online self-serve, and direct branch sales, with risk-based underwriting supported by AI-driven risk evaluation for rural and emerging India populations. Revenue therefore accrues from premium income, investment returns on the policyholder asset base (₹13,207 Cr / ~$1.6B in assets managed as of FY 2025-26), and fees on ULIP and group plans. The primary customer segments are mass-market individual consumers and underserved rural/semi-urban India, with corporate group plans as a secondary segment.

Ownership and capital structure have shifted materially: Sanlam Emerging Markets (Mauritius) increased its stake to ~37.72% by acquiring Piramal Finance's 14.72% holding for ₹600 crore in a transaction completed March 30, 2026, with CCI approval for an additional 2.80% preferential share issue in June 2026. CEO Casparus JH Kromhout has publicly targeted ~20% annual growth through 2030, and Ajit Banerjee serves as President and CIO. Operational signals include a reported 98.52% Death Settlement Ratio, ₹171.85 Cr in claims settled across 4,805 families in FY 2025-26, and consecutive ET BFSI Exceller Awards for Claims Service in 2023 and 2024.

Name

Shriram Life Insurance

Legal name

Shriram Life Insurance Company Limited

Website

https://shriramlife.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Shriram Life Insurance is a Hyderabad-based private Indian life insurer offering savings, retirement, ULIP, term, microinsurance, and group plans through 651 branches and digital self-serve channels, primarily serving mass-market and rural/emerging India consumers.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Life Insurance (6311), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Group Term Life Insurance (FSAIAAAJ), Whole Life / UL Policy Riders & Add-ons (e.g., Waiver of Premium, Accidental Death, Child Term, LTC/Chronic Illness) (FSAIABAK), Group Whole Life (Limited/Continuous Pay) (FSAIADAE)

Keywords

• Life insurance plans
• Term insurance policies
• Retirement pension plans
• ULIP investment plans
• Microinsurance products

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Life Insurance Premiums: Primary revenue from underwriting life insurance policies including term insurance, savings plans, ULIPs, retirement plans, child plans, and microinsurance. Premiums can be paid as single premium, regular premium (monthly, quarterly, yearly), or limited premium payment terms.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Shriram Life Insurance underwrites and distributes individual and group life insurance products in India, including term insurance, savings plans, unit-linked insurance plans (ULIPs), retirement/pension plans, child plans, microinsurance, and group employee benefits. The company distributes through a 651-branch pan-India network, licensed agents, and digital channels (website, mobile app, WhatsApp), serving individual consumers and employer groups with life cover, savings, and retirement income solutions.

Product overview

Shriram Life Insurance offers a comprehensive portfolio of life insurance products organized across multiple categories: Savings Plans (including Sunishchit Laabh, Assured Income Plan, Early Cash Plan, Premier Assured Benefit, and others) providing guaranteed returns and life coverage; Retirement/Pension Plans (Saral Pension, Pension Plus, Immediate Annuity Plus, Deferred Annuity Plan) for post-retirement income security; Child Plans (New Shri Vidya Plan) focused on education funding; ULIP Plans (Growth Plus, Fortune Builder, Golden Jubilee Plan, Wealth Pro) combining market-linked investments with insurance; Term Insurance Plans (Flexi Shield, Smart Protection, Online Term, Comprehensive Cancer Care, Family Protection, and Group offerings) for pure life protection; Microinsurance Plans (Sujana, Jana Sahay) serving low-income segments; and Employee Benefits Plans (Group Gratuity, Superannuation) for corporate clients. The company also offers a range of Traditional and ULIP Riders to customize coverage, plus calculator tools for financial planning. The product portfolio is designed to serve diverse customer segments from rural/emerging India to urban professionals, with products ranging from basic microinsurance to wealth-building ULIPs.

Differentiator

Problem solved

Functional benefit

Products and services

• Shriram Life Sunishchit Laabh A retirement-focused savings plan offering steady monthly income and long-term retirement support with guaranteed benefits for individual policyholders.
• Shriram Life Assured Income Plan A life insurance plan that pays guaranteed regular income with life cover, ideal for those seeking steady income payouts.
• Shriram Life Early Cash Plan A non-linked participating individual saving insurance plan providing early payouts with cash bonus of 2% p.a. of Sum Assured from the very first month.
• Shriram Life Premier Assured Benefit A non-linked non-participating individual life insurance savings plan with guaranteed returns and two comprehensive life cover options.
• Shriram Life New Shri Vidya Plan A child-focused insurance plan designed to secure a child's education and future aspirations with survival benefits and insurance coverage.
• Shriram Life Assured Savings Plan A savings-oriented life insurance plan providing assured returns at maturity with periodic payout options.
• Shriram New Shri Life Plan A life insurance savings plan offering protection and savings accumulation over the policy term.
• Shriram Life Super Income Plan A savings plan with income benefits designed to provide regular returns and life coverage.
• Shriram Life Saral Pension A pension plan providing regular income after retirement with guaranteed annuity options.
• Shriram Life Pension Plus An enhanced pension plan offering flexible annuity options for retirement security.
• Shriram Life Immediate Annuity Plus An immediate annuity plan that provides regular pension income starting immediately upon investment.
• Shriram Life Deferred Annuity Plan A deferred annuity plan where annuity payments begin at a future date, allowing corpus accumulation over time.
• Shriram Life Growth Plus A unit-linked insurance plan offering market-linked returns with life insurance coverage and multiple fund options.
• Shriram Life Fortune Builder A market-linked investment plan combining life cover with wealth-building opportunities through equity and debt fund options.
• Shriram Life Golden Jubilee Plan

Quantifiable outcome

• 98.52% Death Settlement Ratio for FY 2025-26
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability2 records

Feature4 records

Partnerships

One partnership is on record.

• PFRDA (Pension Fund Regulatory and Development Authority)coreOthersSLIC is an empanelled annuity service provider by the PFRDA, offering retirement options to customers through annuity products under regulatory oversight.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• SBI Life Insurance: One of India's top private life insurers leveraging SBI's banking network for distribution, offering term, savings, retirement, ULIP, and group products. Comparable in scale, product mix, and channel strategy.
• Tata AIA Life Insurance: Private life insurer with a diversified portfolio across term, savings, retirement, and ULIP, leveraging the Tata brand and bancassurance ties. Comparable in product mix and Indian-market positioning.
• Kotak Mahindra Life Insurance: Private life insurer offering savings, protection, retirement, ULIP, and group products distributed through Kotak Bank and agency channels. Comparable in product breadth and digital-led sales strategy.
• Bajaj Allianz Life Insurance: Private life insurer offering term, endowment, ULIP, retirement, and group products with strong agent and digital distribution. Comparable in product breadth and target customer segments.
• HDFC Life Insurance: One of India's largest private life insurers offering term, savings, ULIP, retirement, and group products with strong bancassurance and digital distribution. Directly comparable product breadth and target segments.
• ICICI Prudential Life Insurance: Major private life insurer with a full product portfolio across term, ULIP, savings, retirement, and group lines, plus strong digital sales. Comparable in product mix, distribution philosophy, and tech-led customer experience.
• IndiaFirst Life Insurance: Private life insurer with comparable positioning around mass-market, bancassurance-led, and underbanked customer segments, offering term, savings, retirement, and microinsurance. Most comparable peer on target-customer profile and distribution strategy.
• Aditya Birla Sun Life Insurance: Private life insurer with term, savings, retirement, ULIP, and group offerings distributed via agency, banca, and digital channels. Comparable in product portfolio and target segments.
• Max Life Insurance: Private life insurer focused on protection, savings, and retirement plans with a multi-channel distribution model including agents, brokers, and digital. Comparable product portfolio and customer segments.

Broad incumbents

• Life Insurance Corporation of India (LIC): State-owned dominant life insurer with the largest agent network and broadest product range in India. Serves as the structural benchmark and primary competitor for every private life insurer including Shriram Life.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/shriramlifeins
• YouTubeyoutube.com/@shriramlifeinsuranceofficial
• Facebookfacebook.com/shriramlife
• LinkedInlinkedin.com/company/shriram-life-insurance
• Instagraminstagram.com/shriramlifeinsurance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors2 records

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

M&A

Investments2 records

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

Frequently asked questions about Shriram Life Insurance