{"id":437,"date":"2019-11-07T10:31:43","date_gmt":"2019-11-07T10:31:43","guid":{"rendered":"http:\/\/www.assetmultiplier.co.in\/blog\/?p=437"},"modified":"2019-11-07T10:34:31","modified_gmt":"2019-11-07T10:34:31","slug":"hdfc-life-always-at-the-forefront-of-product-innovation-says-hdfc-life-insurance-md-ceo","status":"publish","type":"post","link":"https:\/\/www.assetmultiplier.co.in\/blog\/2019\/11\/07\/hdfc-life-always-at-the-forefront-of-product-innovation-says-hdfc-life-insurance-md-ceo\/","title":{"rendered":"\u201cHDFC Life always at the forefront of product innovation,\u201d says HDFC Life Insurance MD &#038; CEO."},"content":{"rendered":"\n<p><strong>Update&nbsp;on the Indian Equity Market:<\/strong><\/p>\n\n\n\n<p>On Tuesday, NIFTY closed 0.4% higher than the previous close. Cipla (+3.0%), ICICI Bank (+2.5%) and Infosys (+2.4%) were the top NIFTY50 gainers. Titan (-10.1%), Bharti Airtel (-3.4%) and ONGC (-1.3%) were the top NIFTY50 losers. NIFTY Realty (+2.3%), Nifty Pvt Bank (+1.4%) and Nifty Bank (+1.2%) were the top sectors that closed positive. NIFTY PSU Bank (-0.9%), NIFTY Media (-0.5%) and NIFTY Auto (-0.2%) were the worst-performing sectors.<\/p>\n\n\n\n<p><strong>\u201cHDFC Life always at the forefront of product innovation,\u201d says HDFC Life Insurance MD &amp; CEO.<\/strong><\/p>\n\n\n\n<p>Excerpts from an interview with Mrs. Vibha Padalkar, Managing Director &amp; CEO, HDFC Life Insurance broadcasted on CNBC- TV18 on 6<sup>th<\/sup>&nbsp;November 2019:<\/p>\n\n\n\n<ul><li>HDFC Life insurance continues to gain market share &amp; remain number one in the private sector space. The Company has gained market share by 220 bps in 1HFY20.<\/li><li>The Company has reported a growth of 38% on Effective Premium Income in the first half of FY20. Thus, there was a 65% YoY growth in the 1QFY20 on the back of their product called&nbsp;<strong>\u2018Sanchay Plus\u2019<\/strong>. In 2Q the Company reported a growth of 19% which according to her is not moderate by any means.<\/li><li>HDFC Life has a balance in its product mix as well as in the distribution. In a particular quarter, one might have something that is topical like a product launch or some focus because of the overall sentiment in the markets. However, on a full-year basis, the Company will come back to the balance and that is exactly what HDFC life has started demonstrating.<\/li><li>The non-par savings product contributed about 68% in 1QFY20 which came down sharply in 2Q at an exit rate of 41%. The Company expects to end the year between 30% to 35% contribution from non-par saving products.<\/li><li>HDFC Life is confident of delivering growth of 25-27% in the value of new business for the next two years on the back of:<\/li><\/ul>\n\n\n\n<p>a) Tying up with new partners and expanding a new ecosystem partner,<\/p>\n\n\n\n<p>b) Product innovation. HDFC Life has always been at the forefront of product innovation, according to the MD.<\/p>\n\n\n\n<p>c)&nbsp;Operational savings by reducing the fixed costs as a percentage of new business.<\/p>\n\n\n\n<ul><li>Regarding exposures of insurance companies to the non-banking financial companies (NBFCs) sector, the Company had one which is the IL&amp;FS which has been written down fully. There is no other NBFC exposure.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Update&nbsp;on the Indian Equity Market: On Tuesday, NIFTY closed 0.4% higher than the previous close. Cipla (+3.0%), ICICI Bank (+2.5%) and Infosys (+2.4%) were the top NIFTY50 gainers. Titan (-10.1%), Bharti Airtel (-3.4%) and ONGC (-1.3%) were the top NIFTY50 losers. NIFTY Realty (+2.3%), Nifty Pvt Bank (+1.4%) and Nifty Bank (+1.2%) were the top [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[146,145],"tags":[],"_links":{"self":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/437"}],"collection":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/comments?post=437"}],"version-history":[{"count":3,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/437\/revisions"}],"predecessor-version":[{"id":440,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/437\/revisions\/440"}],"wp:attachment":[{"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/media?parent=437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/categories?post=437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/tags?post=437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}