tvwnewsindia logo

Aegon Life named Srinidhi Shama Rao as Chief Strategy Officer

Srinidhi Shama Rao has been named Chief Strategy Officer of Aegon Life, Digital India’s life insurance firm, in order to drive the company’s digital-only strategy and achieve exponential development. Srinidhi will report to Aegon Life’s MD and CEO, Satishwar Balakrishnan, and will be in charge of Analytics, Alliances, Marketing, Sales, and Product Innovation. Srinidhi’s appointment strengthens the tech-first company’s strategic, operational, and commercial development capabilities.

The move is part of a larger overhaul at the Life Insurer aimed at accelerating exponential growth and scaling to 100 digital distribution partners by 2022. Srinidhi has extensive experience in digital transformation and data-driven strategy implementation across a variety of businesses and geographies. He has spent the last decade using Data Science, Artificial Intelligence, Behavioral economics, and Design Thinking to assist Fortune500 firms make better decisions.

Satishwar Balakrishnan, MD & CEO, Aegon Life, commented on the appointment, “We are excited to bring Srinidhi aboard.He will be instrumental in boosting our planning, strategy, and data capabilities so we can revolutionize how life insurance is sold. And he will play a pivotal role in helping us achieve our vision of making every Indian household financially secure. His experiencewith analytics and AI-driven business strategies will drive business growth.”

Speaking on his appointment, Srinidhi added, “The Customer prefers digital as their primary channel, so it’s exciting to lead Strategy at a company where operations are not run by people but by technology, and an underwriter is not a person but an algorithm. AegonLife is transforming the way life insurance is distributed and sold. With our next-gen Tech Stack, AI Stack and Agility Stack, we aim to make purchasing an insurance policy as easy as ordering food online; and integrating with a new distribution partner a matter of minutes rather than months”

Alongside Srinidhi’s appointment, there have been several elevations of key personnel to accelerate this growth. The team has been organized around customer segments instead of products. Devichand Lunawat, Mayank Ravi and V Vineeth Kumar, who were handling key portfolios, have been elevated to leadcross-functional teams that cater to these customer segments holistically.

In addition to the org changes, Aegon Life has been taking many initiatives to attract tech and analytics talent. It has announced a work-from-anywhere policy that would make it attractive for superior talent located across cities. The agile methodology and goal setting is not restricted to tech teams but followed across the organization.

Speaking of the shift, Sunita Rath, Chief People Officer (CPO) at Aegon Life said “our aim is to break functional barriers that exist in traditional companies, create a cross-functional team of thought leaders and designers who can scale business through superior design and best-in-class technology. Our vision is to make every household in India financially secure, and that is a gigantic goal that can be achieved only through technology”

Related Posts

Market Live

Weather Updates

Cricket Live

Gold & Silver Rates

Recent News