• Business Corporate / Business

Ramchandra Pandit joins as CEO of Bima Mandi, the Web Aggregator Platform Focused on Rural India

• nationalherald
• June 21, 2022

by Prashant Kapadia/NHN

Mumbai, June 20, 2022: Turanth Suraksha Insurance Web Aggregator Private Limited operating with brand name “Bima Mandi”, a web insurance aggregator focused on providing catered insurance products targeting rural population enabling safeguards in their life cycle management has announced appointment of Ramchandra Pandit as its Chief Executive Officer.

Ramchandra has more than two decades of senior management experience across Life and Non-Life insurance business, including a decade of strategic business development and execution pan India. He joins Bima Mandi from Navi General Insurance where he was Managing Director and CEO. Prior to that, Ramchandra has served as Chief Distribution Officer of DHFL General Insurance and Head – Bancassurance, NBFC & Broking for Bajaj Allianz.

“Ramchandra is the right leader to take Bima Mandi to the next level of growth,” said Anil Sachidanand, Chief Mentor of Bima Mandi. “Ramchandra’s extensive insurance expertise, pedigree of digital and mass market and his business development skills will help Bima Mandi attain its vision of providing financial security to Bharat. We look forward to Ramchandra’s role in building a Bharat-specific products portfolio, maintaining strong insurance partnerships, building a consumer centric digital model and creating strategic alliances for service delivery. We believe his strong leadership experience will help Bima Mandi drive exponential growth in coming years.”

“I am very excited to be joining the Bima Mandi team,” said Ramchandra Pandit. “I believe Bima Mandi has a great business model, in-house tech development capability and a talented management team that uniquely positions it to capitalize on the enormous Insurance opportunity in India. The IRDAI has given enormous impetus to increase insurance penetration in rural India. While conventionally around 40 crs of population has been served by the insurance fraternity, we echo IRDAI’s vision of reaching the vastly underserved segment of rural India which equates to 80 crore of the Indian population. The key tenets of community insurance, adoption of districts by insurers for insurance penetration and the recently announced product regulations are highly enabling levers which will directly drive insurance penetration in rural India. As the Insurance industry evolves through new regulations, restructuring, consolidation and technology migrations, I believe Bima Mandi is in a position to efficiently offer insurance solutions that touch the lives of Bharat”

Ramchandra is an MBA in Marketing Management from Symbiosis Institute of Business Management, Pune University and has a degree in Information Technology from Pune University.

About Bima Mandi: Bima Mandi (Company name: Turanth Suraksha Insurance Web Aggregator Private Limited) is an insurance web aggregator registered with IRDAI (Regn No. 017) focused on distributing insurance products across life, non-life and health catering to Rural population. Bima Mandi InsurTech platform has been ideated with an objective to digitally fulfill the Insurance needs of Bharat in local languages to enable better understanding and decision making while purchasing insurance products.