Finesse In Finance
With over 23 years of experience, Sangramjit Sarangi has consistently demonstrated his expertise in financial management, enabling organisations to achieve sustainable growth and maximise shareholder value. As the Chief Financial Officer (CFO) of SBI Life Insurance, he has played a pivotal role in positioning the company as a leader in the industry.
Under Sarangi’s stewardship, SBI Life Insurance has consistently achieved impressive financial metrics. The company’s operating expenses ratio has witnessed a significant drop from 7.8 per cent in FY17 to 5.1 per cent in FY22, indicating enhanced efficiency and cost management. Moreover, the company’s Assets Under Management (AUM) have reached a remarkable figure of Rs 2,67,409 crore in FY22, firmly establishing SBI Life Insurance as a leader in the private sector.
His financial acumen and strategic foresight have fuelled several key initiatives that have had a significant impact on SBI Life Insurance’s financial performance. Through the integration of premium, channel and expense management systems with accounting, he has enhanced operational efficiency, resulting in improved cost control and resource allocation.
Additionally, the implementation of new investment management systems has streamlined operations, leading to better integration and optimised investment performance. These initiatives have contributed to SBI Life Insurance achieving the first rank in terms of new business premium in the private sector, capturing a substantial market share and driving revenue growth.
Tech-ing Off
Recognising the transformative power of technology, Sarangi has been at the forefront of adopting cutting-edge solutions to streamline processes and enhance operational effectiveness. By embracing the latest technologies, such as advanced data analytics and automation, he has reduced manual intervention, minimised processing time, and improved overall efficiency. This strategic implementation of technology has not only increased productivity but has also enabled SBI Life Insurance to stay ahead of the competition in a rapidly evolving digital landscape.
Sarangi’s visionary financial strategies, coupled with his unwavering commitment to operational excellence, have positioned him as a trusted leader in the insurance industry. Through his exceptional financial acumen, strategic initiatives, and customer-centric approach, Sarangi continues to drive sustainable growth, foster financial stability and maximise value for stakeholders at SBI Life Insurance.
