Coverfox, the digital-first insurance distributor, has announced the appointment of Sanjib Jha as the acting CEO of the company.
Jha, an industry veteran and Co-Founder of Avaana Capital (one of the investors in the company), has been deputed for this role on the request of Coverfox board and shareholders. Other big appointments announced by Coverfox include Piyush Ranjan (CTO) andÂ Manish Sultania (CFO). Â
Coverfox is looking to expand its footprint across the country by launching new and innovative products to enable customers make informed choices while purchasing insurance plans. The online insurance-aggregator uses cutting-edge technology and customer-first approach. The new appointments on the companyâs board are part of the organisationâs vision to change the way insurance products are sold and bought in the country.Â
As acting CEO of Coverfox, Jhaâs role on the board of the company would be to mentor the mid and senior-level leadership of the firm, and spearhead its operations to initiate the firmâs next level of growth. Jha will be responsible for optimising and streamlining companyâs resources to ensure the insurance-aggregator strengthens its leadership position in the market, creating value for all stakeholders.
Ranjan, newly appointed CTO, comes with deep experience in product and technology. He has worked with Ola, DoorMint and BrowserStack in the past.Â At Ola, he worked on launch of many key features on the app, including UPI and Card Payments, Ola Pass, etc. that are widely used by consumers today. As the CTO of Coverfox,Â he will be responsible for overseeing the technological implementation, product strategy and ensuring that the technological needs of the company are aligned with the companyâs business goals.
Sultania, as the CFO of the firm,Â will provide strategic leadership to the company through performance management and big data and analyticsÂ
Subrata Mitra from Accel (shareholder in the company), said, âCoverfox is creating value for our customers through tech-driven, new-age approach towards the insurance sector. Over the last seven years, it has revolutionised the way insurance is sold in India. By having industry experts like Sanjib, Piyush and Manish on board, we are confident their leadership will prove immensely helpful in advancing our objectives and building a full-stack profitable model. The board members and investors are supportive of the decision and have confidence that this will create significant value for all stakeholders.â
Varun Dua, Founder of Coverfox and Acko, said, "I believe India needs a much bigger and holistic tech play on insurance. While we have seen online insurance models succeed, this is only a first step. I am confident that with Coverfox's technology, resilience and rock-solid team, we will be able to scale newer heights."