Aegon Life Insurance, India’s first digital-only life insurance company, elevated Satishwar Balakrishnan to be the Managing Director & Chief Executive Officer (‘MD & CEO’). Satishwar, who joined the company in July 2019 as Chief Financial Officer, will spearhead Aegon Life’s transformation into a digital-only life insurance company.
Under Satishwar’s leadership, the company has defined a new vision to be at the forefront of the digital insurance wave and use technology to redefine its strategy. By simplifying the customer experience and digitizing all processes, the company is set to become entirely contactless, from policy issuance, to claims, settlement and renewal.
Satishwar Balakrishnan, on his appointment, commented, “I am pleased to lead a company that is well positioned to continue to invest in its long-term growth plan. We are pivoting our strategy towards the digital future, taking forward our focus on digitization which started in 2016. We are transforming to become India’s first and leading digital-only life insurance provider and I am glad to be a part of this exciting phase of the company.”
“Our pioneering foray into digital has been validated over the years and especially in the current scenario where the rest of the industry is now shifting its focus on digital processes. My focus will be on advancing our ‘Do-it-yourself’ insurance solutions and make them available at affordable costs and to make our entire insurance portfolio a one-click solution for our customers,” added Balakrishnan on his new role.
Satishwar brings with him a rich experience of close to two decades in the Insurance and Finance Industry. Prior to joining Aegon Life, he has worked with IndiaFirst Life, Reliance Life and ICICI Prudential Life. He is a Chartered Accountant by qualification.
About Aegon Life Insurance:
Aegon Life, one of the leading digital life insurance companies in India, was the first life insurance company to launch Online Term Insurance Plans in the country. Being the online protection specialists, Aegon Life has a dedicated customer service team that is geared to provide superior customer experience.
By focusing on innovative digital-first solutions, its vision is to enable customers to lead tension free lives and be the most recommended new age Life Insurance Company. The company’s Direct to Customer focus establishes a direct dialogue with the customers to make for greater clarity and transparency.