Bharti AXA Life Insurance, a joint venture between business group Bharti Enterprises and insurance company AXA, has announced the appointment of Parag Raja as Managing Director (MD) and Chief Executive Officer (CEO) of the company, subject to requisite IRDAI approval.
Raja will succeed Vikas Seth, who led Bharti AXA Life Insurance for the past two-and-half-years, after April 30, 2020. He has a total work experience of nearly 21 years, including 19 years in the life insurance industry in India.
Rajesh Sud, Managing Director, Bharti Enterprises, Financial Services,Â said, â€œWe are delighted to have Parag join us in our next phase of growth and transformation at Bharti AXA Life Insurance. With his extensive experience in the domestic life insurance industry and demonstrated leadership across agency, bancassurance, broking and direct sales force channels, we are confident that Parag will lead Bharti AXA to greater success and help achieve our mission of protecting and empowering every Indian through insurance.â€™â€™
Prior to joining Bharti AXA Life Insurance, Raja was the Chief Distribution Officer at Aditya Birla Sun Life Insurance (ABSLI) and responsible for planning and executing the strategic direction for expanding the companyâ€™s footprint across India. He led a team of over 6,000 employees, including distribution, training, human resource, operations, business planning and analytics teams, nationally.
Raja said, â€œI am delighted to be part of Bharti AXA Life Insurance and thankful to the board and stakeholders for their faith in me. I believe the company has great potential to reach out to customers across the country with its various products for various needs of different life stages and its quality services. I look forward to leading a wonderful team with a view to expanding the reach of life insurance and harnessing the untapped opportunity in the industry.â€™â€™
Before ABSLI, Raja was one of the founding members of Max Life Insurance and associated with the company for 15 years. Apart from driving many key projects successfully, he worked across Max Lifeâ€™s agency and bancassurance channels. Earlier, he also worked with ICICI Bank and ANZ Grindlays Bank.
Raja is a Post Graduate in Marketing Management from Jamnalal Bajaj Institute of Management Studies, Mumbai. He holds a Bachelorâ€™s degree in Commerce from HR College and a Master in Commerce from Sydenham College, Mumbai.