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Supporting Shriram Life to Innovate and Grow in the Mass-Market Segment

16
Aug

The Life insurance arm of Shriram Group has carried forward the group philosophy of financial inclusion by focusing on Inclusive growth and taking life insurance to the customer segments where it is needed the most - the 'Aam Aadmi'. Their partner Sanlam, the second largest insurer in South Africa, is working closely with the group to take the Insurance Businesses to the next level phase of its evolution.

We have now worked on two major projects with Shriram and are proud to be supporting them to better serve their consumers. Shriram’s objective of reaching out to the ‘common man’, as they put it, aligns with our desire to have a positive impact in the markets within which we can operate. We’ve always been aware that the implications of ShriramLife getting it wrong are bigger than just bottom line, due to the nature of their target customer segment there is a wider social and economic consequence for the individuals and families they serve. To be given the trust and responsibility for helping them execute major transformation initiatives and make some very significant investments is something we are extremely humbled by.

Efficiency in operations, integrity and a strong focus on catering to the needs of the common man, by offering high quality and cost-effective products and services, are the values that drive Shriram. They continue to seek opportunities for alternative ways to access their customers and operate their businesses that will bring value to their customers.

"We don’t often go outside of the group and bring in external expertise, so when we do it’s essential we get it right. Outsized have added value throughout the process from helping us define and scope our requirements, identifying, analyzing and assessing the best external partners, locally and internationally and finally supporting us to ensure we get fair value. Outsized continue to be a trusted partner and attend our monthly steering committees helping to guide the execution phase. Through their deep expertise and experience in financial services they’ve been able to understand our business and bring us global as well as local insights."
(Cassie Kromhout, CEO)


Outsized support to Shriram has included sourcing an innovation partner to help them find new ways to access and serve customers and identifying the right digital agency to help them drive their transformation into a digital business from strategy definition through to design, development, and marketing.

"Through Outsized we’ve found external partners we would never have been aware of, firms that offer deep execution experience, new thinking and agility. The quality assurance Outsized offer has given us the confidence to make bold choices that are already paying off."

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