Bajaj Capital Insurance Broking has announced the appointment of Venkatesh Naidu as its new chief executive officer. A statement from the India-based life and health insurance broker said the appointment as an important step towards the growth of its insurtech business.
The company’s Insurance Turbo initiative is about double its insurance business year-on-year, affirming the fact that insurance broking has been one of the fastest-growing segments in India’s insurance scene, the statement said.
Naidu is an industry veteran with over 20 years of experience, having worked in several of India’s top insurance organisations such as Exide Life Insurance, Bharti AXA Life Insurance and ICICI Prudential Life. Before his move to Bajaj Capital, he was director of sales at Exide Life Insurance.
“Insurance is a key part of financial planning and the focus on Total Wellbeing gives it a holistic approach towards risk management. We intend to make insurance more easily accessible to the retiree and pre-retiree segments also, in addition to the youth. With his strong focus on delivering results, I am certain that Venkatesh will lead the business into newer heights,” said Rajiv Bajaj, chairman and managing director of Bajaj Capital.
“Bajaj Capital Insurance Broking has been a pioneer in helping protect millions of customers with right insurance products and delivered an Individual premium of 1400Crs+ last year,” said Sanjiv Bajaj, joint chairman and managing director of Bajaj Capital. “Now with Venkatesh leading the Insurance broking business, we aim to expand our network and reach more people across all customer segments in India. This is in line with the objective of making the offering available to all Indians across income segments. Bajaj Capital has started an aggressive Insurance Turbo Initiative and intends to post significant growth year-on-year for the next few years.”
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