Q1-FY27 · Anub Baki
Margin is not a fixation for us. It's growth in absolute VNB that we will continue to focus on. Clearly we see a lot of opportunity on the protection space.
ICICI Prudential Life Insurance Company · tone and specificity signals across the available quarters.
Language signals
Margin is not a fixation for us. It's growth in absolute VNB that we will continue to focus on. Clearly we see a lot of opportunity on the protection space.
Protection is a core focus area for us. This is a multi-decade opportunity and the endeavor on our part is to make sure every part of our distribution is getting more and more immersed about selling protection.
When you look at the total cost of business, you'll also consider any training cost, any supervisory cost, any support cost that you have—you have to consider all of it when you look at the cost that gets expended at a channel level.
We welcome the government's landmark GST reforms aimed at making life insurance affordable and accessible. With GST exemptions, customers enjoy substantial savings on premiums, making life insurance policy more accessible across income groups.
Our focus has always been on growing the absolute VNB and all our efforts will go towards the same.
I don't think the right approach is to cut customer benefits. I think we have to find a middle ground between the ecosystem participants.
The objective is to be able to grow absolute VNB and from a partner perspective growing their earnings as well.
We have not witnessed any replacement of pure protection with high sum assured ULIPs.
The right phrasing that we should use is actually waste cutting. It's not cost cutting.