Chief Manager- Finance & Accounts
TATA AIG General Insurance Company Limited
Total years of experience :8 years, 0 Months
TATA AIG General Insurance is one of India’s leading private sector General Insurance Company offering an extensive range of General Insurance covers that cater to various individual and business insurance needs. Founded in 2001, it has since grown to 220 branches across India and a workforce of about 8900 employees.
Winner of the Rising Champion Award 2019 under the Soaring Eagles Recognition programme within the 1st year of joining for demonstrating initiative, ownership and management skills.
Promoted to Chief Manager Position in 2022 in recognition of consistent high performance and effective project management.
Nominated to be part of a company sponsored International Leisure Trip in 2024 for outstanding contribution to financial reporting and analysis domain.
Managed the external reporting of financial statements, solvency statement for the company (Annual revenues $1.6B) to the Insurance Regulator, Capital Market regulator(SEBI), General Insurance Council, Newspaper Publication ensuring 100% compliance with Indian GAAP standards.
Produced and evaluated financial models for forecasting income and expenses, identifying trends and variances to support long term growth objectives. Delivered comprehensive insights leading to the following outcomes:
Improvement in Motor Segment profitability by $20M.
Flagged of duplicate claim reportings in Health business leading to nearly 10% benefit in Loss Ratio.
Reduction in risk exposure to Weather Line of Business to the extent of 30% of the portfolio.
Highlighted issues in earnings computation for Property business resulting in improved Loss Ratios to the tune of 5%.
Refinement of Underwriting practices for Marine vertical due to data driven insights shared.
Collaborated with Business units to set up KRA’s (Key Responsibility Areas) pertaining to Collection efficiency of Receivables, consequently leading to improved Solvency Margin of the company.
Assisted with technical analysis and comments on 3+ exposure drafts of Financial Regulations issued by the Insurance Regulator of India (IRDAI).
Spearheaded the Project for companywide implementation of Revised Public Financial Disclosure norms notified by the Insurance Regulator in 2021.
Engaged with the Digital Development Team of the Company and revamped the Public Financial Disclosure section of the Company website facilitating easier access and better presentation of financial information to internal and external stakeholders.
Facilitated the Commercial Lines Business Team to secure business worth (~ $0.4M) by obtaining the newly introduced “Make in India” certification from the Statutory Auditors in record time which was duly appreciated by the National Head of Commercial Business.
Formulated and devised processes around Audit data management leading to streamlining of audits and reduction in turnaround time by at least 2 days.
Mentored and trained new team members on range of areas including financial reporting, audit management, stakeholder management. Guided over 25+ existing team members on a need basis on various matters pertaining to financial accounting and software utilization.
ITI Reinsurance Ltd was India’s first private sector reinsurance company. It was part of the ITI Group which runs an array of businesses in the financial services space ranging from NBFC’s, Mutual funds, Alternative Investment Fund.
Conducted the User Acceptance Testing and facilitated the Go- Live of the Investment Software (m-Power).
Managing the Fund Operations including Broker Empanelment, Deal Settlements (AUM $ 60M).
Special Project
ITI Long Short Equity Fund, a Category III AIF, popularly called Hedge Fund. (Initial AUM $12M)
Fund Setup
Accomplished the key tasks of obtaining the in principal approval and subsequently the final certificate of registration from the Capital Markets Regulator (Securities and Exchange Board of India-SEBI) for setting up the Fund. Following activities undertaken to achieve the aforesaid:
Partnered and collaborated with the investment bankers, legal advisors, tax advisors for finalizing the Private Placement Memorandum(PPM) and tax structuring,
Shortlisting and locking in on the service providers- Fund Accountant, Custodian, Registrar and Transfer Agent (RTA), Statutory Auditors.
Post Fund Setup
Carried out the Empanelment and Onboarding of Domestic and Foreign Institutional Brokers, Preparation of Investor kit for marketing, finalization of Investor Contribution Agreement and Investor onboarding ( Non Resident Individuals, Domestic Corporate and Individual investors)
Designing the Statement of Account for Investors in partnership with the RTA’s.
Day to day activities
Performing the day to day deal confirmations and settlement, monitoring NAV statements received from Fund accountant, Regulatory return filing.
Member of Grant Thornton International, Grant Thornton India is a leading professional services firm in India.
Aided in the preparation of models based on DCF, multiples, NAV as well as valuation reports for valuation of shares of companies, portfolio valuation of funds, business valuations.
One of the top companies in Indian Life Insurance sector, AUM $ 34B
Assisted in ensuring organizational compliance with the Sarbanes Oxley Act (U.S Federal Law) in accordance with COSO 2013 framework on Internal Controls and ensuring adherence to the requirements of Internal Controls over Financial Reporting as per the Indian Companies Act, 2013.