In a triumph for student-led innovation, three management students from the SP Jain Institute of Management and Research (SPJIMR), Mumbai — Pritish Wadhwa, Stuti Rajesh Shah, and Eshan Sharma — have won SBI Life Insurance’s national innovation challenge, IdeationX 2.0, beating over 31,000 participants from across India.
The annual contest, designed to nurture creative thinking and digital transformation in the life insurance sector, invited B-school students to present breakthrough ideas that could redefine the industry’s future.
A Platform for Youth-Led Innovation
Launched as SBI Life’s flagship innovation initiative, IdeationX aims to foster collaboration between academia and industry by giving students an opportunity to solve real-world business problems.
This year’s edition—IdeationX 2.0—expanded its footprint nationwide, attracting students from more than 100 premier B-schools, including IIMs, MICA, XLRI, and FMS. The challenge encouraged participants to explore innovative approaches to financial inclusion, customer experience, and the digital delivery of life insurance.
“It was truly inspiring to witness the passion and intent these young innovators brought to IdeationX 2.0,” said Abhinav Bindra, India’s first individual Olympic gold medallist, who graced the grand finale as chief guest. “Their energy reminded me of my own journey, built on focus, patience, and consistent effort. Platforms like IdeationX inspire young minds to develop ideas that address real-world challenges while infusing fresh energy into industries that touch millions of lives.”
SPJIMR’s Winning Edge
The winning SPJIMR team’s concept stood out for its blend of technology, sustainability, and inclusivity in reshaping life insurance products for India’s diverse demographic landscape. Their idea focused on using AI-based predictive analytics to personalise coverage and gamify financial literacy to engage youth and rural communities.
The team presented their idea before a distinguished jury led by Amit Jhingran, MD & CEO, SBI Life, alongside senior leaders including M Anand, President & Chief Distribution Officer; Abhijit Gulanikar, President – Business Strategy; G Durgadas, President – Operations & IT; and Ravindra Sharma, Chief of Brand, Corporate Communications & CSR.
Speaking on their victory, Pritish Wadhwa shared, “IdeationX gave us a platform to think beyond theory and apply management learning to create impact. Winning this competition shows how innovation can thrive when academia and industry collaborate with purpose.”
Recognising Excellence from Across Campuses
While SPJIMR took home the national title, IIM Shillong’s team — comprising Namita Gupta, Nitika Bansal, and Sakshi Agarwal — were declared first runners-up. Teams from MICA Ahmedabad (Aishwary Singh, Aditi Pandey, Aditya Jain) and IIM Lucknow (Chaitanya Gupta, Prachi Damania, Akash Bhanse) shared the second runners-up position.
Their ideas ranged from community-based microinsurance networks to immersive customer onboarding using virtual reality.
“IdeationX 2.0 embodies the spirit of practical innovation,” said Ravindra Sharma. “India stands at an inflection point where innovation and inclusion are redefining financial security. The next leap in life insurance will come from fresh thinking — from technology that simplifies to ideas that empower individuals to pursue their aspirations confidently.”
Fostering Industry–Academia Collaboration
The IdeationX initiative reflects SBI Life’s belief that youth-led innovation is key to achieving the national vision of ‘Insurance for All by 2047.’ It promotes problem-solving, design thinking, and entrepreneurship among India’s next generation of business leaders.
Participants underwent multiple competition rounds, including concept submission, prototype validation, and a live presentation before the final jury. Throughout the process, students received mentorship from SBI Life professionals, helping them refine their solutions with practical insights.
“We wanted students to think beyond profitability and consider empathy, trust, and access — the human side of financial services,” said Amit Jhingran, MD & CEO, SBI Life. “These are the qualities that will define the future of the life insurance industry in India.”
Empowering Young India
The finale served not just as a competition but as a celebration of youth innovation in financial services. Organisers emphasised how such platforms contribute to India’s innovation ecosystem, bridging classroom learning with market realities.
Bindra concluded his keynote by telling participants, “Innovation, like sport, demands discipline, failure, and courage. Every idea, no matter how small, holds the potential to transform lives if pursued with purpose.”
With initiatives like IdeationX 2.0, SBI Life continues to reinforce its commitment to nurturing India’s talent pipeline—encouraging students to think big, innovate responsibly, and contribute to building a more inclusive financial future.
As the winners from SPJIMR return to campus, their journey stands as a testament to how creativity, collaboration, and courage can transform ideas into action—and ideas into impact.
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