SuryaJyoti Life Insurance 1.0.77

SuryaJyoti Life emerged following the historic merger of Surya Life Insurance Co. Ltd. and Jyoti Life Insurance Co. Ltd., marking a significant milestone in Nepal's insurance sector. Initiating joint operations on December 22, 2022, the newly formed entity has rapidly evolved into one of the largest life insurers in Nepal, evidenced by its robust capital base, extensive investment portfolio, substantial life fund, wide branch network, extensive agency distribution, and a growing policyholder base.

Surya Life, with an operational history exceeding 15 years, was recognized as a leading player in the industry during its prime. Throughout its tenure, it effectively expanded its distribution channels across Nepal, capturing a considerable market share. Meanwhile, Jyoti Life, despite its shorter presence of only five years in the market, quickly established itself as one of the fastest-growing insurers, smartly positioning itself with innovative product offerings and a solid operational foundation tailored for handling high business volumes while mitigating related risks.

The current infrastructure of SuryaJyoti boasts over 200 fully operational branches that cater to a wide range of services for both policyholders and agents. Its ISO 9001:2000 certification underscores its commitment to adhering to international best practices in management. Noteworthy is SuryaJyoti's array of unique product offerings, including an extensive Critical Illness Coverage plan that encompasses protection for 35 critical illnesses with coverage up to Rs. 5 million.

In terms of risk management and diversification, SuryaJyoti collaborates with reputable reinsurance partners such as NepalRe, Himalayan Re, and HannoverRe. NepalRe stands as Nepal’s largest reinsurer with significant government ownership, while HannoverRe is recognized globally among the top three reinsurers. This strategic alliance enables SuryaJyoti to effectively manage risk concentration while leveraging global best practices in reinsurance.

On the technological front, SuryaJyoti employs SiddhiLife as its core operational software, complemented by an array of innovative ancillary services. These include a feature-rich mobile application, comprehensive reporting tools, online payment systems, a workflow and tracking platform capable of monitoring turnaround times, an AI-powered Chatbot for enhanced customer inquiries, and a thorough Call Center service designed to maintain detailed customer engagement histories.

Additionally, SuryaJyoti is supported by a diverse group of promoters from various business sectors—manufacturing, trading, and finance—each bringing significant brand equity and market presence to the company.