MUMBAI: India's insurance industry is pegged to reach US $ 280 billion by 2020. As many as 24 life insurers are actively working to push insurance penetration in the country, which continues to be abysmal. The mere 3.69% life insurance penetration, also presents a growth opportunity for players in the Indian insurance space, where insurance companies, regulator and the government have been deploying various strategies to make insurance accessible to larger sections of society.

Acknowledging the industry’s common dream of a well-protected and insured India, SBI Life sent friendship day messages on Twitter in a unique and fascinating style, to life insurers across the country, triggering a chain of positive conversations from its peers in the insurance space and other social media users. The conversations are vital to increase awareness about the importance of life insurance and will benefit the entire insurance industry.

Speaking on the campaign, Mr. Ravindra Sharma, Chief of Brand and Corporate Communication, SBI Life Insurance, said, "As responsible life insurers we strive to create values that resonate with the customers and build on it to establish a life-long relationship. Whilst there will always be a competitive narrative for market share and business overall, at the core of it is a common dream of every insurer which is to protect and insure lives. It is this dream that connects us all life insurers. For us at SBI Life, friendship day laid down a perfect foundation to be able to rejoice this dream for a moment together with other life insurers. With this gesture, we hope to spark more positive conversations and stand united for a greater good.”