Ageas Federal: Team culture as a differentiator
What could be the parameters to call an insurance company successful? It could be top-line, profitability, the dividend, the solvency margin and for the expanding enterprises it could be about the value of new business. But here is one company which has prioritised the work culture on top of everything and rest of the parameters have been fulfilled as a result. “It’s about the culture. For us, our mantra is to perform like a sports team and the rest of things will be taken care of. Meritocracy, no bureaucracy, quick decisions, no politics, transparency - these are a few key elements that define our culture here at Ageas Federal. Employees feel empowered to speak up about their concerns or share their perspectives without fear of judgment or repercussion. So that’s the culture we’ve been trying to build in this company,” says Vighnesh Shahane, MD & CEO of Ageas Federal Life Insurance. In the fast-paced world of business, success often hinges on the ability of teams to collaborate effectively towards common goals. Drawing inspiration from the world of sports, where teamwork is paramount, organizations can learn valuable lessons on how to foster a culture of cooperation, excellence, and achievement. Ageas Federal promotes teamwork and collaboration with a focus on creating winning teams and not superstars. One of the key differentiators for Ageas Federal is enabling everyone to speak the same language and have a common and shared meaning of its values, culture, and strategic priorities. This is the foundation of the organization’s success despite presence across 67 locations in India. “I think the bedrock of our collaborative culture is the focus on impact, leadership excellence and commitment to continuous learning for professional development. It stands out as a distinctive characteristic in our industry. Our core values – Care, Dare, Deliver and Share are simple for our people to understand and live by” shared Kapil Udaiwal, CHRO. He further added that at Ageas Federal what matters most is showing respect to others and at the same time pushing boundaries, challenging status quo, and making things happen.