According to a PwC report, nearly a quarter of Indian enterprises surveyed reported losses exceeding USD 1 million (about Rs 8.8 crore) from cyber breaches over the past three years, with the risk particularly high among companies earning USD 5 billion or more in annual revenue.

While these numbers highlight intensifying risks for individuals, they also reaffirm the growing need for reliable cyber insurance protection that can cushion financial losses and provide essential support during a cyber incident.

Cyber budgets are rising, although at a cautious pace, with 87 per cent of organisations in India planning to increase their cybersecurity spending over the next 12 months, according to a PwC report.

To combat such rapidly evolving digital risks, SBI General Insurance encourages individuals and families to adopt comprehensive cyber protection as a critical layer of digital hygiene and personal security. SBI General Insurance’s – Cyber VaultEdge product offers cyber protection across a broad spectrum of e-transaction related risks, identity theft, online reputation, including social media trolling, bullying, extortion and stalking. With no deductibles, simple documentation, and flexible cover limits, the solution ensures that individuals can easily access meaningful cyber protection without complexity. It ensures individuals receive both financial assistance and emotional support to manage the aftermath of such incidents.

Commenting on the evolving cyber risk landscape, S. Vishwanathan, Head – Underwriting & Reinsurance, SBI General Insurance, said, “Cyber risks today extend far beyond conventional data breaches. With individuals and businesses relying more heavily on digital platforms, threats have become significantly more sophisticated and frequent. This shift underscores the growing need for protection that can keep pace with the evolving landscape. In an era of rising digital dependency, comprehensive cyber cover is no longer optional, it has become essential for every digital user.”

SBI General’s cyber offering delivers holistic support through every stage of recovery. It covers legal expenses, data restoration costs through IT specialists, and psychological consultations to help individuals cope with trauma from cyber incidents. With this comprehensive approach, SBI General Insurance reinforces its commitment to supporting people at every phase of life in an increasingly digital world.

The post Supporting India’s Digital Growth Story with Robust Cyber Risk Solutions appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

As part of this initiative, the Company will conduct various activities across the allotted districts in the  States of Madhya Pradesh, Uttar Pradesh, Uttarakhand, Andhra Pradesh, Odisha, Assam and Tamil Nadu . An extensive list  of activities have been  planned to enhance farmers’ awareness and educate them regarding the features of the  crop insurance scheme, including coverage details, enrolment norms, and claims procedures. This includes various extensive on-ground programmes activities such as Fasal Bima Pathshalas, farmer workshops, Kisan Melas, and special enrolment-driven interactions targeted towards women farmers.

To further boost awareness amongst farmers, SBI General Insurance will be conducting door-to-door campaigns, educational initiatives in schools and colleges, localised engagement through bike rallies, boat outreach, street plays, and cultural performances. Distribution of pamphlets, FAQs, and widespread outdoor advertising using hoardings, banners, and posters will also be carried out  to amplify the campaign at the village, block and district level.

Complementing these ground activities, a robust digital and social media campaign in regional languages will further increase the impact of this initiative.

Speaking on the initiative, Mr. Naveen Chandra Jha, MD & CEO, SBI General Insurance, said, At SBI General Insurance, our mission has always been to strengthen the resilience and progress of India’s farming community. Farmers are the backbone of our nation’s economy, and supporting them is a privilege we deeply value.

Crop Insurance Week provides us with a meaningful platform to engage more closely with farmers, simplify their understanding of the scheme, and ensure they are well-informed about the protection available to them. By working collaboratively with government bodies and institutional partners, we aim to ensure that the enrolment process remains smooth and on-ground execution is timely and effective. Every year, we participate in national-level initiatives that reflect our commitment to building trust, widening financial protection, and contributing to sustainable and inclusive growth across rural India.”

Through this campaign, SBI General Insurance will focus on reaching farmers of the Rabi 2025–26 season to enhance awareness about the provisions and benefits of PMFBY. These efforts reaffirm the company’s commitment to empowering farmers, strengthening agricultural resilience, and contributing to the Government’s vision of an Atmanirbhar and resilient agricultural sector.

The post SBI General Insurance Supports PMFBY’s Crop Insurance Week to Strengthen Farmer Awareness for Rabi 2025–26 appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Bengaluru, 07, October 2025: SBI General Insurance, one of India’s leading general insurance companies, announced the launch of its flagship retail health insurance product – Health Alpha.  Designed for unlimited flexibility and over 50 coverage options, Health Alpha embodies the ethos of Your Health. Your Cover. Your Way, empowering customers to create personalized health plans that suit their lifestyle and healthcare requirements. This significant launch highlights SBI General Insurance’s dedication to delivering affordable, tailored and cutting-edge products, ensuring customers access to robust health coverage that meets their diverse healthcare needs and reduces the financial burden of medical and hospitalization expenses.

The product provides wide range of sum insured options ranging between INR 5 Lacs to unlimited sum insured. Policyholders can opt for a long-term policy option of up to five years, which enables them to safeguard towards medical inflation while enjoying tenure-based discounts. The entry age to purchase the plan is 18 years to no restriction for adults and 91 days to 25 years for children.

Crafted to cater for the rapidly evolving ecosystem and wide array of customers, Health Alpha provides a range of customer-focused, personalized coverage options that emphasize comprehensive protection and flexibility. The key features of Health Alpha include:

• Up to 10x Cumulative Bonus – This is add-on cover which provides up to 10x cumulative bonus annually, if no claim is made under the policy.
• Unlimited Sum Insured- Base Sum Insured of the policy will be unlimited. A claim of any amount will become payable, subject to Policy terms and conditions
• Endless Sum Insured – Covers hospitalization expenses for a single claim beyond the Base Sum Insured, this benefit can be availed once in lifetime of the policy
• Gym & Sports Injury Cover – This is industry’s-first and exclusive add-on which provides OPD benefits for injuries sustained during hobby sports or daily fitness activities, covering specialist consultations, diagnostic tests, prescribed medicines, and physical therapy.

• Plan Ahead –  This unique add-on benefit provides Waiting Period continuity earned by the  policyholder to newly married spouse (age up to age 35 years) and/or newborn children (maximum 2 children), provided they are enrolled within 120 days of marriage or birth.
• Welcome Discount – The product offers distinctive “ Welcome Discount” of 5%, if new policy is purchased within 5 days of quote generation.

Along with Hospitalization, the product brings together essential health insurance benefits such as Pre and Post hospitalization cover, Day Care Treatments, AYUSH Treatment, Critical Illness, Hospital Daily Cash, Global Cover, Personal Accident Cover to new coverages like Gym and Sports Injury Cover, Endless Sum Insured, Modifiers and many more. While all covers are offered on an optional basis therefore, reinforcing its DIY approach, Health Alpha allows customers to adjust coverage limits within each benefit, select from multiple sub-limits, and modify waiting periods, ensuring complete flexibility to customize their health plan to individual needs. 

Speaking on the launch, Mr. Mohd. Arif Khan, Deputy Chief Executive Officer of SBI General Insurance, said “At SBI General Insurance, we are delighted to introduce “Health Alpha”, an industry first offering post GST reforms, revolutionizing affordability and accessibility. With rising medical costs, securing the right health insurance plan with adequate coverage is more critical than ever. Health Alpha is not just another health insurance plan; it redefines the way people experience health coverage, combining customization, innovation, and customer-first solutions. With our extensive hospital network and robust claims process, we believe this product will set a new benchmark in empowering individuals and families to take control of their health insurance like never before.”

With this launch, SBI General Insurance aims to strengthen its leadership in the retail health segment and set new benchmarks in customer-centric health insurance.

The post SBI General Insurance launches “Health Alpha” – An industry – first product after GST reform appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

The ‘SBI General Flexi Home Insurance’ offers greater flexibility and allows customers to design a tailor-made home insurance policy as per their requirements. The unique feature of this product is that it offers customer a Stand-Alone “Fire” only insurance cover as mandatory, complemented by an extensive range of perils and add-ons that ensures personalized protection for every homeowner. These add-ons include valuable item protection, alternative accommodation expenses, burglary cover and also offer discounts for multiple optional covers.

The product provides comprehensive protection for home structure, content & additional risk. The policy safeguards against property damage, natural calamities, fire, and burglary. It also covers other unforeseen events, making it a reliable option for homeowners and renters seeking protection. Additionally, it offers long-term security through a one-time payment for up to 20 years.

Key features of the policy:

–       Fire Cover: The only mandatory cover

–       Comprehensive protection for home structure, contents & additional risks

–       Optional Perils/Covers: Protection against natural disasters, burglary and theft

–       Long-term security: One-time payment for long term tenure of up to 20 years

–       Attractive optional Covers and discount options available

SBI General Flexi Home Insurance stands out as a versatile and customer-centric home insurance solution, addressing the needs of diverse homeowners and tenants across India. With a one-time premium payment option and a hassle-free claims process, the policy has been developed to provide financial stability and peace of mind to the policyholders and strengthen SBI General’s commitment to providing innovative and comprehensive insurance solutions.

The post SBI General Insurance Launches Flexi Home Insurance – A Customizable Home Insurance Product appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

The aim of the “Meri Policy Mere Haath” campaign initiative is to empower farmers by ensuring transparency, accessibility & awareness in terms of central Toll free no. 14447, National Crop insurance portal to lodge intimations in case of losses. The initiative focuses on delivering crop insurance policy documents directly to farmers, promoting awareness about the schemes benefits and strengthening trust in the process. It helps farmers stay informed about their crop coverage, claims and enrolment process under PMFBY Scheme. During the campaign, SBI General will be conducting awareness workshops such as Fasal Bima Pathshala, Women centric workshops etc. in 8 states namely Madhya Pradesh, Uttar Pradesh, Uttarakhand, Odisha, Assam, Tamil Nadu, Maharashtra & Andhra Pradesh to sensitize farmers about the PMFBY Scheme and its benefits. The campaign will also leverage social media campaigns with dedicated hashtags like #MeriPolicyMereHaath, #PMFBY, #FasalBimaKarao, and #AtmanirbharKisan to amplify awareness and participation.

Speaking of the event, Mr. Naveen Chandra Jha, MD and CEO of SBI General Insurance, said “At SBI General Insurance, we are deeply committed to empowering India’s farming community by ensuring they have easy access to the benefits of crop insurance under PMFBY. The PMFBY scheme is bridging the risk needs of  farmers by providing them the security net, offering them financial security and peace of mind. The ‘Meri Policy Mere Haath’ campaign reflects our dedication and commitment wherein we work closely with local administrations, stakeholders, and the farming community, we aim to make the policy distribution process seamless, efficient, and impactful”.

The post SBI General Insurance Supports ‘Meri Policy Mere Haath’ Campaign for PMFBY Policy Distribution Drive – Rabi Season 2024-25 appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Mumbai; January 20, 2025: SBI General Insurance, one of India’s leading general insurance companies, has delivered a robust financial performance during the first nine months of FY25. The company reported a Profit After Tax (PAT) of INR 504 crore, reflecting an impressive year-on-year growth of 273%.

The company’s strong performance is evident across key financial indicators. Its gross written premium (GWP) rose by 10.9%. The gross direct premium (GDP) growth of 10.5% exceeded the industry growth rate of 7.8%. SBI General’s solvency ratio remains strong at 2.12 times, well above the regulatory minimum of 1.50, underscoring the company’s solid financial foundation.

SBI General Insurance’s impressive financial results in 9M FY25 was primarily driven by robust growth across key business segments. The Motor Insurance portfolio achieved an impressive year-on-year growth of 39%, supported by enhanced underwriting strategies and the successful expansion of digital channels for seamless policy issuance and renewals. The Health Insurance segment grew by 12% due to rising healthcare awareness, increased demand for comprehensive coverage, digital adoption, and government policies. The company’s loss ratio improved significantly by ≈4% compared to 9M FY24 through better risk management, efficient claims processing, and data-driven strategies. These performance drivers underscore the company’s strategic focus on innovation and customer-centric solutions.

Commenting on the Company’s performance, Mr. Naveen Chandra Jha, MD & CEO, SBI General Insurance, said “Our strong financial performance in 9M FY25 reflects our steadfast dedication to customer-focused innovation, operational excellence, and sustainable growth. The notable growth across our Motor, Health, and Engineering segments demonstrates our agility in responding to market trends and our commitment to delivering value to policyholders and stakeholders”

Mr. Jitendra Attra, CFO, SBI General Insurance, added: “Our consistent financial performance in 9M FY25 underscores disciplined underwriting practices, a collaborative team effort, and a strong focus on operational excellence. The significant increase in profitability and solvency highlights our robust business fundamentals and ability to foresee and adapt to a dynamic market environment. “

SBI General Insurance continues to build on its growth trajectory, leveraging a customer-centric approach, strong team collaboration, and a diversified product portfolio, all of which contribute to sustained profitability and a growing market presence.

The post SBI General Insurance Posts an Impressive 273% PAT Growth in 9M FY25 appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

The Corporate Agency Agreement was formalized by Smt. Priya Kumar (EVP & Business Head), Shri Piyush Singh (Head – Rural, Agriculture & Micro Insurance), and other senior officials of SBI General Insurance representatives along with  Shri Premnath Salian (Chief Executive Officer), Shri Venkatesh Hegde (Advisor), Shri Devendra Kumar (Advisor), Shri Suhas Gokhale (Advisor) and other Senior representatives from Abhyudaya Co-operative Bank Ltd. also attended the event., This partnership will help enhance the bank’s existing portfolio of financial services and offer customers a diverse range of general insurance products.

Speaking on the partnership, Smt. Priya Kumar, EVP & Business Head, SBI General Insurance, said “We are delighted to collaborate with Abhyudaya Co-operative Bank, a renowned name in cooperative banking space. This partnership allows us to extend our reach to the Bank’s customers and give r them access to entire range of products including motor, health, home, travel, cyber and commercial insurance. We look forward to fostering a mutually fruitful relationship that enhances customer satisfaction.”

This partnership reinforces the shared commitment of SBI General Insurance and Abhyudaya Co-operative Bank to empower communities by offering financial and insurance solutions catering to their diverse needs. The collaboration seeks to deliver a seamless and convenient experience for policyholders, supported by SBI General Insurance’s expertise and robust claims settlement process.

The post SBI General Insurance partners with Abhyudaya Co-operative Bank Ltd. to offer integrated insurance solutions appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Bengaluru, 9^th October 2024: SBI General Insurance, one of India’s leading General Insurance companies announces the launch of ‘SBIG Health Super Top-Up’, a health insurance top-up plan designed as an economical and affordable option supplementing over and above the basic health insurance policy. The product offers versatility for individuals seeking insurance to enhance their existing policy – by seamlessly complementing any existing health insurance policy from any provider, whether corporate or personal. It enables customers to customize their coverage to suit their specific needs, ensuring a convenient and hassle-free experience.

With lifestyle diseases on the rise and medical inflation escalating at approximately 14% in the country, having sufficient coverage is imperative to effectively manage unexpected medical emergencies, which are not usually covered through standard health insurance plans.

The ‘SBIG Health Super Top-Up’ policy provides individuals with the assurance they need to confidently face any unforeseen medical situation. The plan contains a wide range of coverages, offering two plans with sum insured ranging from 5 lacs to 4 Crores. Under the policy, the claim becomes payable when your primary health insurance coverage is exhausted or when expenses exceed the deductible amount. It caters to the needs of Group Health or Retail Health customers requiring additional coverage, as well as the urban and semi-urban populace with inadequate or no insurance. Additionally, it fulfills the requirements of High-Net-Worth Individuals (HNIs) or families seeking extensive insurance coverage.

The SBIG Health Super Top-Up offers remarkable benefits, including:

• Flexible Annual Aggregated Deductible and Long-Term Aggregated Deductible options
• Sum Insured range of 5 Lakhs to 4 Crores and Deductible options from 2 Lakhs to 2 Crores
• Cumulative Bonus (CB) No reduction in CB, in case of a claim
• Unlimited Restore for related and/or unrelated illness/injury
• Option to reduce Waiting Period
• Global Cover
• Long-term policy options up to 3 years,
• Competitive premiums starting from Rs. 3,377 for individuals aged 18–35 years

This comprehensive Super Top-up policy offers a range of valuable features, including global coverage, unlimited restore, and a cumulative bonus that remains intact even after a claim, providing you with increasing value over time. Additionally, the reduction in waiting periods ensures quicker access to  benefits, among other features. A one-time welcome discount of 5% will be applied to all policies, provided the proposer purchases the SBIG Health Super Top-Up insurance within 5 days of receiving the quote from the company.

Speaking about the policy, Mr. Subramanyam Brahmajosyula, Chief Product & Marketing Officer, SBI General Insurance said, “With the escalating costs of medical treatments and the growing prevalence of lifestyle-related illnesses, having comprehensive health coverage is no longer a luxury but a necessity. At SBI General, we have always been at the forefront of providing customers with simplified and affordable risk solutions that address the evolving needs of the customers. The ‘SBIG Health Super Top-Up’  Insurance Policy, is for the benefit of insuring customers who want to top up their existing insurance plan at a reasonable premium rate. This policy is tailored to meet the diverse needs of individuals and families, offering peace of mind and financial security during unexpected medical emergencies. This super top-up policy features the unique advantage of seamlessly complementing any existing health insurance plan from any provider.”

The post SBI General Insurance launches ‘SBIG Health Super Top-Up’ Policy to meet challenge of rising Medical Costs appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

This significant contribution will aid The Akshaya Patra Foundation in their ongoing efforts to provide critical relief services, including emergency food supplies, medical aid, and essential resources to the affected communities in Wayanad. The donation underscores SBI General Insurance’s commitment to supporting communities in times of crisis and contributing to their swift recovery.

The recent disaster has left many families displaced and in urgent need of assistance. The Akshaya Patra Foundation, renowned for its efficient and effective relief operations, is on the ground providing essential support to those in need. SBI General’s contribution will bolster these efforts, ensuring that affected families receive timely aid and support as they begin the process of rebuilding their lives.

The post SBI General Insurance Donates ₹10 Lakhs to The Akshaya Patra Foundation for Wayanad Relief Efforts appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.