SSBI LifeExecutive Cockpit
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Cost & Reinsurance 360

The cost-base lens — distribution commission (the dominant outflow), bancassurance fees, reinsurance ceded, technology & underwriting services spend, terms and delivery risk, with the surplus and continuity move for each line.

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

Stretching to settlement terms frees ₹257 Cr of free surplus at no cost — settlement sits at 35d vs the 45-day target. Capture it, manage the 3 at-risk cost lines (distribution commission the dominant outflow at 10.6% total cost ratio), and consolidate the top tier before commission or reinsurance rates reset.

2 of 4 headline metrics improving vs prior · still off target: Claims & Commission Days Payable 35d vs 40d, Total Cost Ratio 10.6% vs 9.7%, Gross Written Premium (GWP) ₹1,01,290 Cr vs ₹1,10,000 Cr

Do now — ranked by urgency
  1. 1
    Manage the 3 at-risk cost linesWatch
    Why it matters

    Commissions & distribution payouts & Technology & digital (Policy Admin / CRM / cloud) & Medical, underwriting & verification services carry medium+ risk — commission inflation, a reinsurance-rate reset or an IT-delivery slip can lift the cost ratio.

    What's driving it
    • 3 of 6 cost lines at medium+ risk
    • Avg SLA 95% across the panel
    FYI
    • Tighten commission terms (EoM), lock reinsurance treaties and qualify alternate IT vendors before a reset
    • Owner: Distribution · CRO · President — Ops & IT
    Plan sourcing →
  2. 2
    Stretch to settlement terms — free surplusOpportunity
    Why it matters

    ₹257 Cr of free surplus stays in the business by moving settlement from 35d to the 45-day target on ₹9,397 Cr of cost base — no hit to the P&L.

    What's driving it
    • Settlement 35d vs 45d target
    • ₹9,397 Cr cost base across 6 partners
    FYI
    • Total cost ratio 10.6% — lowest among large private peers; protect it via EoM headroom
    • Owner: President & CFO · Treasury
    Capture surplus →
  3. 3
    Consolidate the top tier for rebate and priority serviceOpportunity
    Why it matters

    Commissions & distribution payouts (₹4,457 Cr) and SBI bancassurance partnership fees (₹2,500 Cr) are 74% of the cost base — concentrating volume earns rebates and priority service.

    What's driving it
    • Top two partners = ₹6,957 Cr (74% of ₹9,397 Cr)
    • 6 partners total
    FYI
    • Negotiation priority for the next term cycle
    • Owner: Procurement · CFO
    Negotiate →
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● LiveBuilt forPresident & CFO · Treasury· free surplus via settlement termsDistribution · CRO (Reinsurance)· manage commission & reinsurance costPresident — Operations & IT· protect delivery continuity

₹9,397 Cr of distribution commission, bancassurance fees, reinsurance, technology & underwriting services runs through 6 cost lines — distribution commission the single biggest line and the dominant outflow (commission ~4.4% of GWP). This view turns that into two moves: a ₹257 Cr free-surplus release from stretching to terms, and a manage-the-exposure plan for the 3 lines whose risk could lift the cost ratio.

Data backing: supplier (spend, score, SLA, error %, settlement days, risk) · kpi.dpo · kpi.revenue / total cost ratio
Total cost base
₹9,397 Cr
6 partners
Settlement days
35d
target 45d
Surplus from terms
₹257 Cr
stretch to 45d
Avg SLA adherence
95%
delivery reliability
At delivery risk
3
medium+ risk
Where the money goes

Spend by cost line

Two lines are 74% of the cost base — the negotiation priorities.

The two moves

What to do this quarter

Stretch to terms — free surplus
₹257 Cr
Settlement 35d → 45d on ₹9,397 Cr of cost base — free surplus stays in the business. No hit to the P&L.
Owner: President & CFO · Treasury
Manage the exposure
3 lines
Commissions & distribution payouts & Technology & digital (Policy Admin / CRM / cloud) & Medical, underwriting & verification services carry elevated risk — tighten terms / qualify alternates before commission or reinsurance rates reset.
Owner: Distribution · CRO · Ops & IT
Consolidate the top tier
₹6,957 Cr
Commissions & distribution payouts (₹4,457 Cr) and SBI bancassurance partnership fees (₹2,500 Cr) — concentrate volume for rebates and priority service.
Owner: Procurement · CFO
Partner by partner

Cost-partner scorecards

Each card: spend, reliability and the specific move.

Commissions & distribution payouts
Distribution (commission) · ₹4,457 Cr spend
Medium
Score
88
SLA
96%
Error
0.4%
Settle
30d
Move: Manage the exposure — medium risk, SLA 96%. Tighten terms and qualify alternates before commission inflation, a reinsurance-rate reset or an IT-delivery slip stretches the cost base.
SBI bancassurance partnership fees
Bancassurance fees · ₹2,500 Cr spend
Low
Score
92
SLA
98%
Error
0.2%
Settle
30d
Move: Push terms — settling in 30d vs the 45-day target. Stretching to terms on ₹2,500 Cr keeps free surplus in the business at no cost.
Reinsurance (RGA / Munich Re / Swiss Re)
Reinsurance ceded · ₹900 Cr spend
Low
Score
90
SLA
97%
Error
0.5%
Settle
45d
Move: Healthy partner (score 90, SLA 97%). Consolidate more volume here to earn rebate and priority service.
Technology & digital (Policy Admin / CRM / cloud)
IT & digital · ₹820 Cr spend
Medium
Score
85
SLA
93%
Error
1%
Settle
45d
Move: Manage the exposure — medium risk, SLA 93%. Tighten terms and qualify alternates before commission inflation, a reinsurance-rate reset or an IT-delivery slip stretches the cost base.
Medical, underwriting & verification services
Underwriting services · ₹420 Cr spend
Medium
Score
84
SLA
92%
Error
1.2%
Settle
40d
Move: Manage the exposure — medium risk, SLA 92%. Tighten terms and qualify alternates before commission inflation, a reinsurance-rate reset or an IT-delivery slip stretches the cost base.
Actuarial, audit, legal & consulting
Professional services · ₹300 Cr spend
Low
Score
87
SLA
95%
Error
0.6%
Settle
50d
Move: Healthy partner (score 87, SLA 95%). Consolidate more volume here to earn rebate and priority service.
The full panel

Every cost partner, one row

Spend, score, delivery, terms and risk.

Cost partnerCategorySpendScoreSLA %Error %SettleRisk
Commissions & distribution payoutsDistribution (commission)₹4,457 Cr
88
96%0.4%30dMedium
SBI bancassurance partnership feesBancassurance fees₹2,500 Cr
92
98%0.2%30dLow
Reinsurance (RGA / Munich Re / Swiss Re)Reinsurance ceded₹900 Cr
90
97%0.5%45dLow
Technology & digital (Policy Admin / CRM / cloud)IT & digital₹820 Cr
85
93%1%45dMedium
Medical, underwriting & verification servicesUnderwriting services₹420 Cr
84
92%1.2%40dMedium
Actuarial, audit, legal & consultingProfessional services₹300 Cr
87
95%0.6%50dLow