Bajaj Capital Insurance Broking Limited has announced the appointment of Venkatesh Naidu as its Chief Executive Officer, in line with the objective of running its insurtech business.
Naidu has over 20 years of experience working and manufacturing in renowned insurance organizations in India like Exide Life Insurance, Bharti AXA Life Insurance and ICICI Prudential Life. In his previous tenure, Venkatesh served as Director of Sales at Exide Life Insurance.
Rajiv Bajaj, Chairman and MD, Bajaj Capital said, “Insurance is an important part of financial planning and the focus on Total Wellbeing gives it a holistic approach to risk management. We intend to make insurance more easily accessible to the retiree and pre-retirement segments, apart from the youth. With his strong focus on delivering results, I am sure Venkatesh will take the business to newer heights.”
Sanjeev Bajaj, Joint President and MD, Bajaj Capital, said, “Bajaj Capital Insurance Broking has been a pioneer in helping millions of customers to save money with the right insurance products and has delivered an individual premium of over ₹1400 crores last year. Now 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 all income groups. Bajaj Capital has launched an aggressive Insurance Turbo initiative and intends to post significant year-on-year growth for the next few years.”
The Insurance Turbo initiative, which has nearly doubled its insurance business on a year-on-year basis, is a testimony to the fact that insurance broking has been one of the fastest growing sectors in the insurance industry, the company said.