ARIJIT BASU – Managing Director & CEO SBI LIFE INSURANCE
Can you describe your business?
A- The business that we are in is to give assurance of prediction and security. 2 millions of Indians across the country and in that lies our substance and growth that why we want to grow.. We want to grow ethically and with prudence.
What is the big idea
The principal idea is that every individual in the company needs to grow as in life. And that growth in life would come only if they are well secure and protected. So our principal idea is to give that assurance of protection. That is our basic product.
Leaders must operate in the environment of extreme volatility. Do you agree on that? How do you think it affects your leadership?
Of course. The world is changing very fast. We must be alive to the changes and as leaders we must equip our teams and our overall company in being able to respond to these changes very fast. One example can be the dynamic changes which are happening in the digital space. So we have to equip our company with necessary changes and the necessary tools.
We also have to have very strong risk management capabilities. So basically in our company we have identified four principal areas which are ba sically the four foundations on which the company can go. One is keeping the customer at core of our thoughts and process. Unless we have the customer we are a service industry, we don’t exist. And we have various initiatives. Then how to serve customers we have 3 or 4 things. One is risk management principal because we are in the financial sector. Our business is the business of taking risk. But how do we manage that risk and ensure that we do the risk management in such a way that it leads to growth in our business. So risk management is one of the focus area to which we are giving a lot of importance lot of investments are being made. Second area is the technological capabilities, whether we call it digitization or IT Foundation that is the second area. And third in any service be our human resources……….
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