Ajay Harinath Singh Greatest Brand Leader 2018-2019

TM
powerful
Sanjeev Srinivasan
The Visionary Insurer
Sanjeev Srinivasan is revered for his significant contribution to the
insurance industry. His customer-centric approach has let him define
the right direction for Bharti AXA General Insurance and drive its
growth and transformation journey
THE JOURNEY SO FAR
The insurance industry today has
to address the rising risks faced by
the growing Indian population. The
insurance penetration in India (ratio of
premium underwritten in a given year
to the gross domestic product) stands at
3.69% as published in an annual report
by IRDAI, as per an article by LiveMint
in Feb 2019, while general insurance
penetration is below 1%, reports The
Hindu BusinessLine.
In this existing scenario, Mr. Sanjeev
Srinivasan’s pragmatic approach
has helped in forming out of the box
solutions to meet the evolving needs of
consumers. His success is evident by the
great stints over his career spanning over
20 years, across industries ranging from
life insurance and general insurance
to transportation and logistics. With an
entrepreneurial spirit, Sanjeev has been
instrumental in building products and
solutions from scratch.
Sanjeev is currently the Chief Executive
Officer and Managing Director at Bharti
AXA General Insurance. Before taking
up this role, he was Chief Commercial
and Principal Officer at Bharti AXA
General Insurance since August, 2016.
Having worked with numerous leading
companies such as ICICI Lombard,
Fullerton India Credit Limited, ING Life
Insurance, Mahindra & Mahindra Ltd,
Xerox India Limited and DHL Worldwide,
he has consistently demonstrated the
characteristics of a true leader.
DRIVING TRANSFORMATION
Sanjeev has steered innovation at the
gigantic enterprises that he has worked
with. The recent growth at Bharti AXA
General Insurance is a result of his
relentless focus on customer centricity.
Sanjeev has led a remarkable
transformation at Bharti AXA General
Insurance, as the company recorded
strong premium growth at more than
double of industry growth. The company
posted a net profit of Rs. 3 crore in the
financial year ending on March 31,
2019, against a loss of Rs. 92.6 crore
during 2017-18.
Being customer centric has meant
that initiatives such as developing new
product lines, segment diversification,
automation and digitization of processes
have been at the forefront of the
operations. These efforts have also
resulted in great improvement in the
financial health of Bharti AXA General
Insurance, with an increase of 29 per
cent in its Gross Written Premium
(GWP) to Rs 2,285 crore in the financial
year 2018-19 from Rs 1,772 crore in
2017-18 and increase of 46 per cent in
its Gross Written Premium (GWP) to Rs.
1,586 crore in H1 2019-20.
collaborative leader
Sanjeev firmly believes that value
creation is a collaborative process. No
team, however brilliant can deliver
stunning results in isolation. Towards
this, he frequently spends time with
various teams in the organization and
understands their perspectives. He
personally recognizes and rewards
people for their achievements within
the company. His belief that every
contribution matters has made Bharti
AXA General Insurance a strong
company built on the foundation of
motivated individuals and teams working
together, raring to achieve new heights
each day.
“Sanjeev has been
instrumental in creating
out of the box solutions
for evolving customer
needs. His ability to
challenge conventions &
redefine the status quo
is worth emulating”
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