SSBI LifeExecutive Cockpit
On this pageFunnelForecastWin / lossTop deals

New Business & APE 360

The front of the new-business book — APE pipeline by stage (protection, annuity, non-par, ULIP), forecast vs plan, win/loss, and the deals that decide the quarter.

SBI Life Insurance Company Limited · FY26 (Mar'26, audited anchor)
India's #1 private life insurer by Individual NBP (25.5% private share) & IRP (22.9%)
29,344 employees · 1230+ own offices · 9 bancassurance partners
▲ Executive read· the answer, then the moves

Q3 FY26 commit ₹24,500 Cr sits ₹1,500 Cr below the ₹26,000 Cr plan — ₹3,000 Cr of best-case upside must convert to make the number. Coverage is 0.9x on ₹24,270 Cr of pipeline; the call is winnable but only if the at-risk upside is forced to close.

2 of 3 headline metrics improving vs prior · still off target: New Business Premium (NBP) ₹42,550 Cr vs ₹46,000 Cr, Assets under Management (AUM) ₹4,87,160 Cr vs ₹5,40,000 Cr

Do now — ranked by urgency
  1. 1
    Convert ₹3,000 Cr of best-case upside to close the ₹1,500 Cr plan gapAct now
    Why it matters

    Commit ₹24,500 Cr is ₹1,500 Cr short of the ₹26,000 Cr Q3 FY26 plan — the gap that decides whether the quarter lands.

    What's driving it
    • Q3 FY26 commit ₹24,500 Cr vs ₹26,000 Cr plan
    • ₹3,000 Cr best-case upside above commit
    FYI
    • Pipeline ₹24,270 Cr (0.9x coverage), ₹10,356 Cr weighted
    • Owner: CRO
    Open forecast →
  2. 2
    ₹2100 Cr of renewal premium at risk — Q4 FY26Act now
    Why it matters

    Each lapsed policy is renewal premium and embedded value that won't recur — persistency is the quality gauge.

    What's driving it
    • renewal window Q4 FY26
    • Signal: Renewal-book risk
    FYI
    • Of ₹16000 Cr of premium up for renewal in Q4 FY26, ₹2100 Cr is at risk of lapse / non-renewal.
    • Owner: Head — Persistency & Renewals
    Act →▤ open the at-risk renewals
  3. 3
    Attack the top loss reason: Peer VNB margin (lower-ULIP competitors) (₹2,600 Cr lost)Watch
    Why it matters

    ₹-win-rate is 80% (₹20,300 Cr won vs ₹5,000 Cr lost); Peer VNB margin (lower-ULIP competitors) is the single largest leak at ₹2,600 Cr.

    What's driving it
    • ₹-win-rate 80%
    • Top loss Peer VNB margin (lower-ULIP competitors) ₹2,600 Cr across 180 deals
    FYI
    • Top win driver: Bancassurance moat (SBI branch reach) ₹9,800 Cr
    • Tighten pricing discipline via Proposal & Underwriting 360
    Pricing discipline →
  4. 4
    eShield Next (Protection) — early-year lapse elevatedWatch
    Why it matters

    Early lapse drags renewal premium & embedded value — quality-of-sale and targeted win-back are the levers.

    What's driving it
    • persistency 82% (below the 85% watch line)
    • Signal: Persistency
    FYI
    • Persistency 84→79→82%; first-year lapse 16%. Protection — higher early lapse; margin-rich, small premium.
    • Owner: Head — Persistency & Renewals
    Act →▤ open high-lapse-risk policies
📈 Distribution reach (banca & agency)Step 1 of 6 · new business, APE pipeline & forecastChannel & Customer 360 ▶All journeys
🌐 Enterprise 360 modules· on New Business & APE 360Browse all 31 views ▾
✅ Todayyour decision queue📨 Activity & Digestaudit trail · @mentions🧭 360 Directoryall views by persona🗺 Guided Journeyspersona flows · step-by-step🛰 Control Towercommand center🎯 Strategy & Goals4 pillars · OKRs💎 Value Creation Planshareholder value · valuation🤖 AI Agentsrecommend & act🌐 Enterprise 360the consolidated pane📈 New Business & APE 360funnel · forecast🛰 Market & Industry Intelsignals · growth initiatives🏛 Company Hierarchyorg · segments · entities🗂 Distribution Roll-up 360zone · segment · office📍 Distribution Network 360offices · zones · reach👥 Channel & Customer 360channels · cross-sell🧩 Channel Mastergolden record · MDM🧾 Proposal & Underwriting 360proposals by product🔄 Policy Lifecycle 360lead → issue → renew🔁 Persistency & Renewals 360renewal book · persistency🔧 Onboarding & Issuance 360issuance · new-business delivery👷 Workforce 360distribution force · activation🏷 Products & Segments 360products · margin journey🧩 Programs & Digital 360PMO · workstreams · go-live🤝 Growth & Capital 360initiatives · capital · ROI🚪 Embedded Value & ReturnsEV · solvency · returns🚚 Cost & Reinsurance 360commission · reinsurance · IT💰 Finance 360P&L · segments💵 Cash 360collections · premium · treasury🧬 Ontology & Meshlogical layer · data products▤ Evidencedrill-to-record · export🩺 Data Healthfreshness · lineage
↗ Where this connects — act / drill across
👥Channel & Customer 360· whose accounts the deals sit in🧾Proposal & Underwriting 360· the quotes behind the funnel🛰Market & Industry Intel· signals driving the pipeline💰Finance 360· forecast vs plan
● LiveBuilt forDistribution / Zonal heads· coverage & forecast callSales Ops· stage velocity & hygieneCEO / Board· will we make the quarter

SBI Life is pursuing ₹24,270 Cr of APE pipeline across the funnel (₹10,356 Cr weighted). This view answers the distribution chief's two questions — will we make the quarter (forecast vs plan) and why we win or lose — and points at the deals that move the number.

Data backing: pipeline_stage · forecast · winloss · opportunity · kpi
₹24,270 Cr
Qualified pipeline
299 opps
₹10,356 Cr
Weighted pipeline
value × win-prob
80%
₹-Win-rate
won ÷ (won+lost) ₹
₹42,550 Cr
New business (NBP)
renewal/NB 1.38x
₹4,87,160 Cr
AUM
invested float
Coverage

Pipeline by stage

Value and win-probability rise toward the close — weighted value is what to bank on.

Qualify · 130 opps · 20% win₹8,500 Cr
Develop · 90 opps · 40% win₹7,000 Cr
Proposal · 55 opps · 60% win₹5,800 Cr
Negotiation · 24 opps · 80% win₹2,970 Cr

Dark fill = win-probability within each stage's value. Weighted pipeline totals ₹10,356 Cr.

The forecast call

Q3 FY26 — ₹24,500 Cr commit vs ₹26,000 Cr plan

Commit, best-case and closed-to-date against the plan line.

Q1 FY26 · actualclosed ₹22,300 Cr vs plan ₹22,000 Cr
Q2 FY26 · actualclosed ₹23,800 Cr vs plan ₹24,000 Cr
Q3 FY26 · currentcommit ₹24,500 Cr · best ₹27,500 Cr
Q4 FY26 · forecastcommit ₹27,000 Cr · best ₹31,500 Cr

Q3 FY26: commit ₹24,500 Cr is ₹1,500 Cr below the ₹26,000 Cr plan; ₹3,000 Cr of best-case upside must convert to close the gap. Black line = plan.

Why we win & lose

₹-win-rate 80% · ₹20,300 Cr won vs ₹5,000 Cr lost

Clone the win reasons into low-win families; attack the top loss reason first.

Why we win
Bancassurance moat (SBI branch reach)₹9,800 Cr · 620
Brand trust & 99.4% claims settlement₹6,200 Cr · 410
Product breadth (ULIP → annuity → protection)₹4,300 Cr · 260
Why we lose
Peer VNB margin (lower-ULIP competitors)₹2,600 Cr · 180
Non-par pricing post surrender-norms₹1,500 Cr · 120
Digital-native / web-aggregator competition₹900 Cr · 90

Read it: bancassurance moat (sbi branch reach) wins the most (₹9,800 Cr); Peer VNB margin (lower-ULIP competitors) is the top loss (₹2,600 Cr) — tighten pricing discipline (see Proposal & Underwriting 360) before chasing new demand.

Move the number

Named deals in play

Signal-sourced deals convert higher — prioritize them.

OpportunityChannelProductValueStageWin %Source
Annuity & pension build-out (Retire Smart)SBI Bancassurance (parent 22,000 branches)Non-Par Savings & Annuity₹2,000 CrDevelop58%signal
Individual protection scale-up (eShield Next)Agency (2.82 lakh agents)Protection & Group₹1,600 CrProposal62%signal
Non-Par savings mix-shift (Smart Platina)SBI Bancassurance (parent 22,000 branches)Non-Par Savings & Annuity₹1,500 CrProposal60%signal
Group credit-life via SBI loan bookSBI Bancassurance (parent 22,000 branches)Protection & Group₹1,200 CrNegotiation72%outbound
Digital / phygital direct protectionDirect / OnlineProtection & Group₹700 CrQualify45%signal
Bima Sugam marketplace onboardingBrokers & Corporate AgentsNon-Par Savings & Annuity₹500 CrQualify40%signal