November 18, New Delhi: Max Bupa Health Insurance today announced the appointment of Ashish Mehrotra as its Managing Director and Chief Executive Officer (MD&CEO). Ashish brings with him over 22 years of extensive banking experience, where his last role was Managing Director and Head- Retail Bank at Citibank.
Ashish has held several portfolios at Citibank including Consumer Assets, Business Banking and Mortgage Business. He played a pivotal role in enabling the bank to gain a leadership position in the wealth management business in India and has earned several accolades to his credit. At Max Bupa, Ashish will be responsible for fortifying the Company’s position, growing its customer base, enhancing its brand, products and services, strengthening distribution channels and creating long-term value.
Welcoming the appointment, Rahul Khosla, Managing Director, Max India & Chairman, Max Healthcare, said, “I am delighted to welcome Ashish to the Max family. His diverse expertise and his track record of consistent and profitable growth will be invaluable for Max Bupa. I am confident that under his capable leadership, the company will be able to create long term value in the high potential health insurance market.”
Rajesh Sud, Chairman, Max Bupa said, “As we continue to grow at a fast pace, and deliver the finest products and services to our customers, Ashish’s rich cross functional skills and penchant for innovation will help Max Bupa further accelerate its growth momentum, strengthen the value proposition for its customers and realize its vision of becoming the most admired Health Insurance Company in India.”
Commenting on his new role, Ashish said, ‘I am honored to be a part of the Max family and to lead Max Bupa. Health Insurance continues to be the fastest growing segment in the non-life insurance industry and isset for quantum growth. With B2C Health Insurance segment growing at a CAGR of 20% over the last five years, it presents a great opportunity for a retail focused player like Max Bupa to exponentially grow its customer base. I look forward to contributing to the growth of Max Bupa and enabling millions of Indian families to lead healthier, more successful lives.’
Max Bupa is a committed health partner to Indian families and has a portfolio of comprehensive and flexible health insurance plans, catering to the health needs of all family members including senior citizens, women, and newborns. Max Bupa has distinguished itself by being the first in the industry to introduce innovative products and services. Max Bupa’s flagship product Heartbeat has gained wide recognition as one of the most comprehensive family health plans in the industry. What has helped Max Bupa stay ahead of the curve is its commitment to put ‘customers’ health first’. Max Bupa is one of the most trusted brands in its chosen segment and recently became the first health insurer to be declared as a Superbrand in India. The company has an estimated market share of ~10% in the B2C private health insurance market.
Ashish’s appointment is subject to requisite regulatory approvals.