Santosh Agarwal's journey from Chief Business Officer (CBO) of Life Insurance to spearheading the transformation of life insurance at Policybazaar is a testament to vision, innovation, and determination. As a pivotal figure in the Indian insurance sector, Santosh has played a crucial role in reshaping the landscape of life insurance and making it more accessible to millions of people across the country. Recently she was awarded the Woman Icon Of The Year by the HZ Womenpreneur Award 2024. Here's a look into her ambitious journey that every woman entrepreneur must know.
Santosh Agarwal's journey in the insurance industry began with a humble start. Santosh Agarwal embarked on a career path that would eventually lead her to the forefront of India's insurance sector. Her early experiences in the industry laid the foundation for her deep understanding of consumer needs and market dynamics. She holds an MBA in Marketing from ICFAI Business School (2008-2010) and a B.Sc in Zoology/Animal Biology from St. Joseph's College, Darjeeling.
Joining Policybazaar
Santosh Agarwal’s journey took a significant turn when she joined Policybazaar, India's largest online insurance aggregator. Recognising the potential of digital platforms in revolutionising the insurance sector, Santosh brought her expertise to Policybazaar and quickly rose through the ranks. Her strategic vision and leadership skills caught the attention of the company's top management, leading to her appointment as Chief Business Officer.
Challenges Faced By Santosh Agarwal
While speaking about the challenges Santosh Agarwal mentioned, “Back in 2008, the concept of Term Insurance was unheard of in the Indian market. Life insurance policies were seen as money-back covers or investment products. We had to put in a lot of work to educate customers about the importance of pure life protection. To bridge this gap, we have collaborated with our insurance partners to launch programs like Term Plan for (Investment Options Starting At ₹100 That Every Housewife Must Know About) homemakers, Saral Jeevan Bima for the underprivileged, and Term Plan for NRIs. While we still have a long way to go, I can proudly say that our efforts in the last 16 years have truly paid off.”
Advice For Women Entrepreneurs
Santosh Agarwal advises all women entrepreneurs, “To be the most honest, hardest-working person in the room, and you will become a force to be reckoned with. It’s important for women to have faith in themselves, and to be ready to go the extra mile for something they believe in. If you educate yourself on everything there is to know about your work and you do your work with discipline - then the sky’s the limit.”
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Receiving Woman Icon Of The Year by HZ Womenpreneur Awards 2024
Santosh Agarwal is honoured to receive the Woman Icon Of The Year by HZ Womenpreneur Awards 2024. She says, “It is with great humility and honour that I accept this award. I want to thank the organisers and jury, and also the Jagran team for celebrating women’s success in leadership roles. I am sure that this will go a long way in inspiring many women to pursue their goals and dreams.”
She further says, “I also want to express my gratitude to the senior leadership team at Policybazaar, who have been instrumental in shaping me into the person I am today. They’ve built a company where equity and empowerment are the foundation of everything we do here at Policybazaar. The founders have fostered a culture where everyone, who is serious about their career, comes up the curve.”
Santosh Agarwal's contributions to the insurance sector have not gone unnoticed. Her visionary leadership and transformative initiatives have earned her widespread recognition within the industry. Santosh's efforts have been instrumental in shaping the future of life insurance in India, making it more inclusive, innovative, and customer-centric.
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