XIMB reaches grand finale of SBI Life’s IdeationX 2.0

THEBUSINESSBYTES BUREAU

BHUBANESWAR, OCTOBER 3, 2025

SBI Life Insurance, one of India’s most trusted private life insurers, has announced the finalists of its national innovation challenge, IdeationX 2.0. Team Xavier Institute of Management, Bhubaneswar (XIMB), emerged triumphant in the semi-finale round held at Kalinga Institute of Industrial Technology (KIIT), Bhubaneswar, securing a coveted spot in the highly anticipated Grand Finale.

The semi-finale witnessed an impressive convergence of 40 teams shortlisted from a staggering 3,500+ entries submitted by leading B-schools across the nation. Institutions from Kolkata, Shillong, Jamshedpur, Bhubaneswar, Mumbai, Ahmedabad, Pune, Delhi, Gurgaon, Ghaziabad, Lucknow, Chennai, Hyderabad, Kozhikode and Visakhapatnam participated in the contest, making it a true celebration of youthful intellect and innovation. After a rigorous multi-tier evaluation process, the top eight teams advanced to the Grand Finale of IdeationX 2.0.

Representing XIMB Bhubaneswar, Pragyan Mishra, Rishita Banerjee, and Sai Mohan Mishra earned their place among the final eight teams. Other distinguished institutions that made it to this elite group included XLRI Jamshedpur, IIFT Kolkata, IIM Calcutta, and KIIT Bhubaneswar.

The semi-finale event was graced by senior leadership from SBI Life Insurance, including Ravindra Sharma, Chief of Brand, Corporate Communications & CSR, and Santosh Chacko, Zonal Director – East. Both leaders interacted with the participants, applauding their innovative approaches and motivating them to continue pushing the boundaries of creative thinking.

Reflecting on the occasion, Ravindra Sharma said, “The semi-finale of IdeationX 2.0 has been a remarkable display of young India’s ability to reimagine the future of insurance. The creativity, analytical depth, and practical insights presented by the students are truly inspiring. At SBI Life, we firmly believe in liberating individuals to pursue their dreams while securing the needs of their loved ones — and initiatives like IdeationX perfectly embody that philosophy. With insurance penetration in India still below 4 per cent, the need for scalable and innovative solutions is urgent if we are to realize the national goal of ‘Insurance for All by 2047.’ The enthusiasm, digital-first mindset, and sense of purpose exhibited by these students reaffirm our confidence in building a financially secure and resilient India.”

With participation from over 30,000 students across 100 premier B-schools, IdeationX 2.0 has evolved into a transformative platform that fuels innovation and encourages fresh thinking in the insurance domain. As the initiative moves towards its much-awaited Grand Finale, these young innovators carry with them the promise of reshaping how insurance is perceived, delivered, and experienced in India.

Through this program, SBI Life continues to reinforce its long-standing commitment to nurturing talent, empowering youth, and fostering innovation — vital pillars that support India’s journey towards a financially secure and resilient future by 2047.