Reimagining Growth with Resilience
Our experience during the journey gave us multiple insights
Protection growth trajectory of HDFC Life¹
Salaried
Non- salaried
An illustrative
depiction of
segmental risk
based on past
experience
12.7
10.7
13.3
Male
Grad &
abv.
10.5
Occupation
Female
Gender
Education
Below
Grad
6.2
4.7
4.8
4.6
3.3
3.5
Mortality
risk
2.5
1.5
>=18
yrs,
<36yrs
Age
Sum
assured
<1cr
FY17
FY18
FY19
FY20
FY21
FY22
Income
■Individual ■Individual + Group
FY17 FY18 FY19 FY20 FY212 FY22
>36yrs
<5 lac
>= 10 lac
>=5 lac, <10 lac
>=1cr
Profitable
distribution
Diversified
growth
mix
innovation
leading
Market-
insurance
Reimagining
Quality of
management
Board and
Total Protection APE
growth
19%
92% 67% 22% (16%) 24%
Protection mix based
on NBP
7.8% 11.3% 16.7% 17.2% 12.8% 13.6%
Nuanced approach while evaluating risks across customer segments
HDFC
1.
Based on APE, in Rs bn
2.
Growth has been negative on account of supply side constraints during Covid and stricter underwriting norms
19
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