MD and CEO, Bajaj Allianz General Insurance
Tapan Singhel has a rich experience in the insurance industry of more than 25 years and has been heading Bajaj Allianz General Insurance for over 6 years. He has won numerous accolades, to name a few, in 2016-17, he has been recognised as CEO of the Year by Insurance Asia Awards & Best Admired Leader by White Page International. In 2017-18, he received Personality of the Year Award by Indian Insurance Summit and The Most Promising Business Leader of Asia at The Economic Times Global Business Summit 2018. In 2018-19, he received the Most Trusted CEO Award by WCRC second time in a row and CEO of the Year at the prestigious 3rd Annual Insurance India Summit & Awards 2018. In his tenure thus far, the company has received AON Best Employer Award in 2016 & 2018 and has been recognised as amongst the top 52 companies at India’s Best Companies to Work for 2018 by the coveted Great Places To Work Institute India.
Under his leadership, the company has emerged as the most profitable private general insurer in the country ensuring growth, profitability and customer centricity. While industry has incurred a cumulative underwriting loss of Rs. 72,000 crore in the past 6 years, Bajaj Allianz General Insurance has made a cumulative underwriting profit of Rs. 310 crore under his able leadership. Since he took over, the company has expanded its footprint in over 1000 new markets through its “phygital presence” boosting its revenues at a CAGR of 21% and profits at a CAGR of 49%.
Customer obsession and passion to do good for the people is what drives him and his success in the industry. A scientist by education, but insurer at heart he works towards making difference in the lives of people in whatever little way he can. His belief is to live in the moment and cherish it. He has not only transformed the company, but has also been a trendsetter in the insurance industry by always taking the first leap towards innovating to enhance the customer service standards. He has made it a habit of being industry first at initiatives that keep taking the insurance industry forward. By always imbibing the principle of empathy towards customers and employees, he has been instrumental in the organisation being recognised on various forums. To name a few, Bajaj Allianz General Insurance received Best BFSI Brand Award 2018 from The Economic Times, Non-Life Insurer of Year Award at the prestigious Outlook Money Awards 2017 and Digital Insurer of the Year at 21st Asia Insurance Industry Awards.
He is known for his ‘Communicative Leadership’ style, where he believes in engaging regularly with employees and customers through social media.