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Are you a student ready to make a mark on India’s insurance ecosystem with your innovative ideas? The SBI Life IdeationX 2.0 is back, bigger than ever. This nationwide innovation challenge seeks creative minds from top B-Schools and select undergrad campuses, offering substantial rewards—including a grand cash prize of INR 1,000,000—plus pre-placement interview (PPI) offers, national recognition, and a chance to drive real-world change. Here’s your complete guide on eligibility, competition format, deadlines, prizes, and the step-by-step application process.
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Table of Contents
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What Is SBI Life IdeationX 2.0?
SBI Life IdeationX 2.0 is an annual business innovation contest hosted by SBI Life Insurance. Now in its second edition, this flagship initiative is dedicated to sparking transformative solutions that can reshape India’s life insurance landscape. Inspired by the national goal of “Insurance for All by 2047,” the program brings together India’s best young minds—motivating them to develop bold, scalable ideas for the sector’s most pressing challenges.
Rewards & Recognition
| Award | Prize |
|---|---|
| Champion Team | INR 1,000,000 (1 Million) |
| First Runners-Up | INR 500,000 |
| Second Runners-Up | INR 300,000 |
| Semi-finalists/Finalists | Exclusive SBI Life goodies |
| PPI Opportunities | Pre-Placement Interviews at SBI Life |
| Media Coverage | Features on CNBC, celebrity sessions |
Beyond the cash, top teams gain exclusive networking and career-enhancing opportunities—connecting with SBI Life’s senior executives, industry mentors, and fellow innovators.
Who Can Apply? Eligibility Criteria
- Institutes Included: Top 100 B-Schools & select undergraduate/postgraduate colleges across India
- Team Size: Teams of exactly 3 students
- Team Composition:
- All members must be from the same institution
- Cross-specialization and cross-year teams allowed
- Cross-college teams not permitted
- Academic Programs: Open to students in Engineering, MBA, undergrad, and postgrad streams
- One Team Per Student: A student may join one team only
Any deviation from these rules leads to immediate disqualification.
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Competition Stages & Timeline
| Round | Description | Timeline |
|---|---|---|
| Virtual Launch | Program orientation and mentor session | 1 Aug 2025, 5:00–6:00PM IST |
| Round 1 | 2-min Video Pitch submission (idea, relevance, feasibility) | 14 Jul–6 Aug 2025, 11:59PM |
| Round 2 | Detailed Slide Deck (8–10 slides; deep dive on solution) | TBA (post shortlisting) |
| Zonal Semi-Finals | In-person pitch at regional hubs before a jury | TBA |
| Grand Finale | Top teams present solutions at national event | 3 Oct 2025, 10:30–6:30PM IST |
All rounds are eliminatory, each designed to test creativity, rigour, and real-world impact.
Application Process: Step-by-Step Guide
1. Assemble Your Team
- Collaborate with two peers from your college.
- Ensure all members’ credentials are ready and valid.
2. Register Online
- Visit the official registration portal (referenced via Unstop or SBI Life IdeationX microsite).
- Enter team details and verify mobile numbers/emails.
- Deadline: 3 August 2025, 11:59PM IST.
- Registration is free for all.
3. Prepare for the Rounds
Round 1: Video Pitch
- Prepare a compelling 2-minute video covering:
- What is your idea?
- Why does it matter to the insurance sector?
- How is it feasible and scalable?
- Submit via the contest platform before the deadline.
Round 2: Detailed Submission
- Shortlisted teams will submit a slide deck (8–10 slides):
- Solution strategy
- Scalability and market fit
- Implementation plan and timeline
- Risk management & challenges
Semi-Finals & Grand Finale
- Regional semi-finalists pitch ideas in person
- Grand finalists (top teams) gather for the national event in October
Remember: Clear, actionable, and data-backed ideas will impress juries and elevate your chances.
The Theme: “Insurance for All”
The contest is anchored on the Government of India and IRDAI’s vision—aiming for universal life insurance coverage by 2047. Participants are encouraged to focus on:
- Digital transformation in insurance sales/service
- Bridging protection gaps and democratizing access
- Financial literacy and inclusion solutions
- Leveraging AI/machine learning in customer analytics, claims, or processing
- New business models for rural and underserved communities
Your idea should be bold yet pragmatic, and highlight a pathway to real-world, scalable change.
Competition Structure at a Glance
| Stage | Format | Key Deliverable |
|---|---|---|
| Launch Event | Virtual | Orientation Session |
| Video Pitch | Online Submission | 2-min Video |
| Slide Deck | Online Submission | 8–10 Slideshow Slides |
| Semi-Finals | In-person, Regional | Live Team Pitch |
| Grand Finale | In-person, National | Jury Presentation |
Why Participate?
- Massive Cash Reward: INR 1 million up for grabs for top innovators
- Career Acceleration: Fast-track PPI opportunities with SBI Life
- National Exposure: Finalists recognized on national TV and digital media
- Expert Mentors: Learn from industry’s best and sharpen your innovation skills
- Network Building: Interact with peers, alumni, and industry stars from across India
- Personal Growth: Develop critical problem-solving and presentation skills
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How to Apply?
If you are an Interested Candidate, you can apply for the SBI Life IdeationX 2.0 [Rewards INR 1 Million Cash Prize, Application Process] Enroll For Free 2025 Click Here.
Ready to Make Your Mark?
The SBI Life IdeationX 2.0 is your launchpad to national recognition, valuable rewards, and a fast track into the insurance industry. Register by August 3, 2025—bring your best ideas, and help reinvent India’s path to insurance for all!
For updates and official guidelines, visit the [SBI Life IdeationX portal]. All contest timelines and processes are subject to organizer updates. Apply early and give your innovation journey a head start!