Satishwar Balakrishnan has been appointed as the Managing Director & Chief Executive Officer (‘MD & CEO’) by India’s first digital-only life insurance company, Aegon Life Insurance. Satishwar will spearhead Aegon Life’s transformation into a digital-only life insurance company. He joined the company in July 2019 as Chief Financial Officer.
The company has defined a new vision under Satishwar’s leadership which is to be at the forefront of the digital insurance wave and use technology to redefine its strategy. The company is set to become entirely contactless, from policy issuance to claims, renewal and settlement, simplifying the customer experience and digitizing all processes.
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.
With an experience of close to two decades in the Insurance and Finance Industry, Satishwar has worked with Reliance Life, IndiaFirst Life and ICICI Prudential Life before joining Aegon Life. By qualification Satishwar Balakrishnan is a Chartered Accountant.
Aegon Life was the first life insurance company to launch Online Term Insurance Plans in the country. It has a dedicated customer service team that is geared to provide superior customer experience. Aegon Life describes its vision as enabling customers to lead tension free lives and be the most recommended new age Life Insurance Company. For more information visit https://www.aegonlife.com/.