Lead­ing The Charge

HER EARLY DIGI­TI­SA­TION EF­FORTS AND A CUS­TOMER- FIRST POL­ICY HAVE GIVEN THE OR­GAN­I­SA­TION A CUT­TING EDGE.

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AVETERAN in the in­surance do­main with three decades of ex­pe­ri­ence, RM Vishakha joined In­di­aFirst in 2015 (it is her sec­ond stint in the com­pany) as MD and CEO, but the chal­lenges were many as the com­pany was still strug­gling to es­tab­lish its iden­tity. She was un­daunted, though, and quickly de­vised an ef­fec­tive strat­egy to make the busi­ness scal­able, sus­tain­able and prof­itable. She ac­quired scale by grow­ing the re­tail busi­ness, which was fur­ther helped by her cus­tomer-cen­tric ap­proach. As a re­sult, In­di­aFirst has be­come one of the fastest grow­ing life in­sur­ers, its prof­itabil­ity grow­ing by 357 per cent in FY2016/17 com­pared to 2015/16. Un­der her lead­er­ship, the or­gan­i­sa­tion scaled up to ` 12,622 crore in AUM and a fourth con­sec­u­tive year of an­nual profit as it clocked ` 51.2 crore in 2017/18.

Vishakha is a votary of digi­ti­sa­tion and due to her early ini­tia­tive, nearly 95 per cent ap­pli­ca­tions are now pro­cessed dig­i­tally at In­di­aFirst while the turn­around time for pol­icy is­suance is 60 per cent less than be­fore. Apps with ro­bust se­cu­rity fea­tures have also been de­vel­oped to au­to­mate rou­tine tasks. She has in­tro­duced re­cur­rent sin­gle pre­mium prod­ucts and also con­ducted ‘Ser­vice-First’ camps to sen­si­tivise cus­tomers to­wards a long-term ap­proach.

Vishakha be­lieves in lead­ing from the front and ap­pre­ci­ates the need for an ag­ile work­place. She has tai­lored the com­pany cul­ture for its mostly mil­len­nial work­force (82 per cent), of­fer­ing flex­itime, manda­tory block leave, sab­bat­i­cals and al­ter­na­tive work ar­range­ment poli­cies so that em­ploy­ees can en­joy a good work-life bal­ance. Be­ing a mother of two, she is fully aware of the kind of sup­port re­quired by women pro­fes­sion­als with fam­i­lies and is ready to help new moth­ers at work.

WHY SHE MAT­TERS She is a turn­around ex­pert who also strives to im­prove the work- life bal­ance of the em­ploy­ees

RM VISHAKHA MD&CEO, In­di­aFirst Life In­surance

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