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Mumbai, February 22, 2019: Shriram Life Insurance Company has expressed gratitude and solidarity towards soldiers martyred in the Pulwama Attacks by proactively settling the insurance claim of one of the soldiers martyred in the attack. In the wake of the terror attack, as the entire nation pays homage to the heroes of Pulwama, it was found that one of the martyred soldiers, Shri Shyam Babu, serving as a Jawan in CRPF; was a life insurance customer of Shriram Life Insurance company.

Honouring the supreme sacrifice made by the soldier for the country Shriram Life Insurance has settled the claim amount expeditiously.

As a mark of respect, Mr. Casparus Kromhout, MD & CEO and Mr. Manoj Jain, Managing Director of Shriram Life Insurance Co. Ltd. personally visited the grieving family in Derapur, Kanpur Dehat and handed over the claim settlement cheque and expressed their gratitude and support.

Mr. Kromhout, Managing Director & CEO, Shriram Life Insurance said, “We are saddened by the incident that shook the nation on 14 th February 2019 and that it would has strengthened the resolve of the company tocompany to fulfil it’s purpose of bringing every aam admi family in India, where the death of the breadwinner will cause financial distress, into the safety net of life insurance. Our mission of providing life cover to this segment has gained more relevance and given us greater responsibility now when we have been able to reach further and provide support to a martyr’s family at such a critical time.”

Mr. Manoj Jain, Managing Director, Shriram Life Insurance, said “ We have worked very hard to spread our wings across the country. Hailing from the state of Uttar Pradesh myself, I have a special attachment towards Kanpur and the state. With more than 30 branches in the Kanpur Zone, we have been able to reach the Aam Aadmi in the state. We are grateful to have acquired this capability and reach from where we can be of assistance during this solemn situation, he added”.

More than 50% of Shriram Life Insurance’s customers are from rural India and the company’s rural business is one of the highest amongst private life insurance companies. Shriram Life has also been working towards making its claim settlement process easier and faster for customers. Despite challenges of working predominately in the rural areas the company has set simple and innovative processes that enable it to settle valid claims within 48 hours even in the remotest of locations. The company also has an initiative called “Shubhchintak” where an official immediately visits the claimant’s family to help with the claim settlement process. The initiative also seeks to help in providing employment to eligible members of the claimant’s family and has provided employment opportunities to members of 6 such families.

About Shriram Life Insurance

Shriram Life Insurance Company (SLIC) is the Insurance arm of the Shriram Group, one of the most respected Groups in India with a predominant presence in financial services. The Group has been promoting Financial Inclusion of low income families and small businesses. Shriram Life Insurance commenced operations in 2006. SLIC is a Joint Venture between Sanlam and Shriram Group. Shriram Life Insurance’s aim is to offer life insurance plans and solutions that cater to a wider demographic. It has a network of 604 offices across India.

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Deepika Singh