The founder of the company is a veterinary graduate with PG in Business Administration. He joined The New India Assurance company as Direct recruit specialist officer to handle rural insurance business of the company namely livestock and Agric based insurance policies in light of green and white revolution declared by the central government during 1970’s onwards. He joined the mainstream of general insurance on acquiring professional qualifications and gained experience of 36 years in the industry. He was elevated to different cadres in the company during service and superannuated as Director and General Manager in the same company.
He worked in Philippines Branch of New India Assurance as Country Manager for four years, which helped in learning Reinsurance treaties and Southeast Asia business environment. On return to India, he worked as Chief Manager in Reinsurance Department of the Company. He handled the largest Reinsurance treaties such as proportional and non-proportional in the domestic market and also for foreign offices of The New India Assurance company. He also started and developed Inward Facultative business Desk at New India Assurance.
He also worked as Chief Manager, Health insurance Department of the company for 5 years. He was actively involved in implementation of IRDA Health regulations in the company by obtaining UID numbers and standardization of policy wordings to all existing health products. Developed 3 New Health Products which are popularly used products in New India at present. Implemented Health Insurance IT Module (SWISS) in New India. He was instrumental in implementation of Centralized payment of health insurance claims from the company to hospitals and customers. He involved in developing TPA Management policy, audit policy, training of TPAs for Cash less settlements to the company. He involved in GIPSA empanelment of PPN Network hospitals to the company for cashless treatment.
Out of his vast experience in insurance and reinsurance, the company posted him as Managing Director /CEO to New India Assurance subsidiary company by name “Prestige Assurance Plc” in Nigeria. In the year 2012 the company experienced major aviation loss of 164 passenger deaths with a total loss of aviation Hull, there by the company financials were at stress with lot of regulatory non-compliances. He joined the company in the year 2014 to stream line the operations. He turns around the company from 2014 to 2019 in terms of Regulatory complacence, solvency issues and on Business Growth etc. Now the company is one of the dividends paying, profitable organization, listed in stock exchange of Nigeria.
He was designated as Chief Marketing officer of the New India Assurance Company in the year 2019 Where he involved in developing Agent’s vertical to the company with full pledged IT portal to the agents. At present 85% of the Agents of the company are using Portals and they are on auto pilot mode to generate their own policies including underwriting to majority of traditional policies.
He worked as director in four different companies during his active service. He was MD/CEO of Prestige Assurance Plc for 5 years with best corporate practices without any regulatory breach.
He was also a non-executive director on pension fund company called “Lead way pensure” regulated by PEN COM, Nigeria. The company was one of the profit-making company managed by professional group in Nigeria. Similarly, he was also Non-Executive Director of “Leadway Hotels” a limited liability company in Lagos. He became whole time director of The New India Assurance in 2020 and involved in implementation of best corporate practices.
Having hands on experience and knowledge in Insurance “BALLA INSURANCE MARKETING” will excel in providing the best insurance cover to the customers .
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