Life Insurance Company in India, Corporate Overview | Kotak Life Insurance
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About Us

Kotak Life Insurance is one of the fastest growing insurance companies in India, covering over 32.8 million lives nationwide (as on 31 st August 2021).

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The Kotak Life Insurance Team

Our Vision and Mission

  • Our Vision

    To become India's best life insurance company

  • Our Mission

    To bring assurance to people's lives

  • Our Core Purpose

    To deliver VALUE to our Customers through Protection & Long-term savings (PALTS)

Our Values

We are driven by our strong values that have held us together over the years:

  • Professional Approach

    Recognized as having the highest professional standards. Our employees and advisors will possess superior knowledge & skill, for the benefit of our customers.

  • Innovation

    We create an environment that encourages all employees to innovate, experiment and try out new things without fear of failure.

  • Continuous Improvement

    We relentlessly strive for improvement. Every achievement becomes a milestone for the next level of performance.

  • Financial Prudence

    Customers depend on us to be there in the future to meet promises. We will achieve by efficient cost management, uncompromised  claim payments & superior investment management.

  • Real Value To Customers

    Satisfy our customers. By providing quality products, services, advice sustainable value, and ensure our customers receive excellent solutions to meet their needs.

  • People Friendly

    Employees will determine our future success. We will treat people with dignity. We will invest in the development of our human resources and reward superior performance.

  • Integrity

    Our dealings are characterized by the highest levels of trust,  honesty and fairness.

Our Board of Directors

Our experienced leaders form a strong foundation that steers our company to be the leader in the industry.

Mr. Uday KotakNon-Executive Chairman

Mr. Uday Kotak is the Executive Vice-Chairman and Managing Director of the Bank and its principal founder and promoter. Under Mr. Kotak’s leadership, over the past 29 years, Kotak Mahindra group established a prominent presence in every area of financial services from stock broking, investment banking, car finance, life insurance and mutual funds. Mr. Kotak is the recipient of several prestigious awards. He is a member of the Government of India’s high level committee on Financing Infrastructure, the Primary Market Advisory Committee of SEBI, Member of the Board of Governors of Indian Council for Research on International Economic Relations, National Institute of Securities Markets and National Council of CII. Mr. Kotak received the Ernst & Young World Entrepreneur of the Year India Award 2014.

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Mr. Shivaji DamNon Executive Director

Mr. Shivaji Dam has a strong accounting and cost accounting back ground with over 30 years’ experience of which 21 years have been with the Kotak Group. He has experience in fields such as Corporate Finance, Proprietary Investments, Investment Banking and operating management within the Kotak Group. He is one of the founding Directors of the Company. He led the Kotak group into the life insurance business and was Managing Director of the Company for four years. Mr. Dam is presently involved in philanthropic activities around education and livelihood for children /youth from under privileged families.

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Mr. Prakash ApteIndependent Director

Mr. Prakash Apte, has been the Managing Director of Syngenta India for a decade & is currently its Non-Executive Chairman. Syngenta India Limited is one of the leading agri business companies in India & Syngenta Group is one of the largest investor in agriculture research and a leading agri business across the world. Mr. Apte, in a career spanning over 35 years, has considerable experience in various areas of management and business leadership. In the first phase of his career, Mr. Apte worked in Larsen & Toubro, Uhde India and in Ciba Geigy in various positions of responsibility in the project management and technical operations. While in Ciba and later on in the merged entity Novartis, Mr. Apte assumed the role as a business head. When Syngenta was formed resulting from merger/demerger of Agri businesses belonging to Astra Zeneca and Novartis, Mr. Apte took over the responsibility as Managing Director & Country President for Syngenta in India. During more than 17 years of very successful leadership of Syngenta business in India, Mr. Apte has gained varied knowledge in various aspects of business such as vision & strategy development, business integration & transformation, operation excellence etc. and he has been involved with many initiatives for organizational capability up gradation, coaching & people development. Mr. Apte was instrumental in setting up the Syngenta Foundation India which focuses on providing knowledge and support for adopting scientific growing systems to recourse poor farmers and enabling their access to market.

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Mr. Paresh ParasnisIndependent Director

Mr. Paresh S. Parasnis is the Head of Piramal Foundation, one of India’s leading foundations committed to addressing social issues through high impact solutions, thought leadership and partnerships. At Piramal Foundation, Mr. Paresh is responsible for the Piramal Group’s CSR activities implemented through its initiatives including Piramal Swasthya, Piramal Foundation for Education Leadership, Sarvajal and Piramal Udgam. Mr. Paresh joined Piramal Foundation in August 2012. He is also active on the board of trustees of Shoshit Seva Sangh (providing education to under privileged children in Bihar) and Collective Good Foundation, Bangalore (formerly Nadathur Trust) (aiming to bring various stakeholders of social sector on one platform and contribute to the overall development of the social sector). Prior to joining the Foundation, he served as Executive Director & COO with HDFC Standard Life Insurance Limited. During his tenure with HDFC Standard Life (2000-2012) he was a Member of various Board Committees and Chair / Member of Management Committees. He worked in various capacities with HDFC Limited (1984-2000) & with Hindustan Lever Limited for two years (1982-84). He has also been a consultant to the World Bank and the Asian Development Bank. He has rich experience of over 30 years with major strengths in strategy, project management, time bound execution and building robust & customer friendly servicing models.

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Ms. Anita RamachandranIndependent Director

Ms. Anita Ramachandran is a well known HR expert in the country and has over 35 years experience as a management consultant. She is also one of the first generation of women professionals to become an entrepreneur and run a highly successful HR consulting and services organization. Ms. Anita began her career in the Management Consultancy division of AF Ferguson & Co. in Mumbai in 1976 as the first woman consultant in the firm. Ms. Anita founded Cerebrus Consultants in 1995 to focus on HR consulting including Organisation transformation. Her reputation and innovative work helped her build Cerebrus into a national presence in 5 years. Cerebrus has offices in 5 major cities and has worked with over 500 companies in South Asia. She is known as an authority in Reward management in the country and her work in the compensation and rewards areas is well organized. She also supports many organizations in social sectors through pro bono professional work and remains deeply committed to work with women. She has been the Chairperson of TIE Women and on Executive committee of TIE Mumbai and earlier on the Advertising Standards Council of India.

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Mr. Dipak GuptaNon Executive Director

Mr. Dipak Gupta is a Non- Executive Director of the Company and has over 30 years of experience in the financial services sector, 24 years of which have been with the Kotak Group. He is the Joint Managing Director of the Kotak Mahindra Bank. He is responsible for Group HR, Adminstration, Infrastructure, Operations and IT. He is also responsible for Asset Reconstruction business of the Bank. Mr. Dipak Gupta was responsible for leading the Kotak Group’s initiatives into the banking arena. Prior to joining the Kotak Group, he was with A. F. Ferguson & Company for approximately six years.

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Mr. Gaurang ShahNon Executive Director

Mr. Gaurang Shah heads the Asset Management, Insurance ( Life and General) and International business of the Kotak Mahindra Group. He took over this assignment on May 1, 2010. In his immediate prior assignment, Mr. Shah was the Managing Director of Kotak Mahindra Old Mutual Life Insurance Limited. Under his stewardship, the Company booked profits for the first time ever in 2009, joining ranks of the select first private Indian life insurers , thereby opening a new chapter in the annals of private life insurance business in India. Mr. Shah has over three decades of rich and varied experience in the Financial Services sector, several of which are with the Kotak Mahindra Group. He has played a stellar role in building the Group’s Consumer Banking business and Life insurance business. He has held several positions of high responsibility over the years, including, inter alia, the Head of Retail Assets at Kotak Mahindra Bank Limited. He was also closely associated with Kotak Mahindra Primus (a joint venture between Kotak Mahindra Group and Ford Credit International), among India’s leading automobile finance companies.

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Mr. G. MurlidharNon-Executive Director

G Murlidhar, former MD & CEO, Kotak Mahindra Life Insurance Company Ltd, is one of the founding members of Kotak Life Insurance. Prior to this, he has held several leadership positions in the organization. Over the past decade, Murli has played an instrumental role in establishing a strong operational and service backbone, dovetailing into a highly efficient distribution network for Kotak Life Insurance. In last few years, Murli went on to implement The 4 Disciplines of Execution (4DX), which represent a new way of thinking and working at KLI. Implementing the 4DX has facilitated in building a culture that is contributing to the company’s growth in today's competitive environment. Murli has more than three decades of experience across finance, commercial, projects, marketing, HR, IT, and consumer distribution. He has also handled public issues and open offers across sectors such as BFSI, services and manufacturing. Murli is a Chartered Accountant, ICWA and Company Secretary.

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Mr. Mahesh BalasubramanianManaging Director

Mahesh Bala, Managing Director, has over two decades of professional entrepreneurial experience in financial services. Starting his career at Godrej & Boyce in 1992, Mahesh moved to Cholamandalam Investment and Finance company in 1994, as the first regional head for the retail business in the West. During his five-year tenure, he led the expansion of the Vehicle finance business, making Chola a key and profitable player in the West. By 1999 he had moved on to a “Strategic team “of the Murugappa Group working on business planning, improving operational efficiency, exploring new initiatives , Mergers and Acquisitions. In 2000, Mahesh turned entrepreneur and cofounded Apnaloan.com India’s first and largest Online Loan market place for Credit Cards, Unsecured Loans, Car Loans and Mortgages. As Executive Director and Business head he got more than 20 leading Indian/Foreign Banks and NBFCs to participate in the market place. In 2005 Mahesh joined Kotak Mahindra Bank as part of the core team of the Retail Liabilities and Branch Banking Business. He was instrumental in setting up and leading the Retail Sales, Retail Institutional, and Government Business and Cross Sell verticals. In his last assignment he was also the Co-Head of Branch Banking Division. After successfully setting up and building significant scale across business in Assets, Liabilities and Branch Banking, Mahesh was given the opportunity in Oct 2014, to be the founder CEO of Kotak Mahindra General Insurance. Mahesh holds a Bachelor’s degree in Mechanical Engineering and a Masters in Management Studies.

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Our Management Team

Mr. Mahesh BalasubramanianKotak Mahindra Life Insurance Company Ltd | Managing Director

Mahesh Balasubramanian is the Managing Director of Kotak Mahindra Life Insurance Company (Kotak Life) since May 2021. Prior to this, Mahesh was leading Kotak’s General Insurance business as MD &CEO. With over 25 years of experience in financial services industry having managed business across Retail assets, Retail liabilities and Insurance.

He joined Kotak Mahindra Bank in 2005 as part of the core team of its retail liabilities and branch banking business. After successfully setting up and building significant scale across verticals, he went on to become the founding CEO of Kotak General Insurance Co. Ltd (KGI) in 2014. Mahesh was instrumental in setting up the company, building a strong leadership team and a robust risk management culture with focus on digital process and customer service, making KGI one of the most sought after companies to work for.

Mahesh is a quintessential serial professional entrepreneur with nearly three decades of experience in financial services. He started his career at Godrej & Boyce in 1992, and moved to Cholamandalam Investment & Finance company in 1994 as its first regional head for the retail asset business in the West. During his five-year tenure, he led the expansion of its vehicle finance business. He moved to Murugappa Group in 1999 where he was handling business strategy & planning, improving operational efficiency, mergers & acquisitions, and exploring new business initiatives. In 2000, Mahesh co-founded Apnaloan.com - India’s first and largest loan market place for credit cards, personal, car & home loans.

A Mechanical Engineer from Madurai Kamaraj University, Mahesh holds a Masters’ degree in Management Studies from the University of Mumbai.

An avid reader, a sports enthusiast and a half marathoner, Mahesh likes to challenge the status quo and is ever willing to experiment with creative and innovative solutions to manage scale with productivity and profitability.

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Mr. Sunil SharmaKotak Mahindra Life Insurance Company Limited | President, Chief Actuary and Chief Risk Officer (CRO)

Sunil Sharma is the Chief Actuary and Chief Risk Officer (CRO) at Kotak Mahindra Life Insurance Company Limited (Kotak Life). He heads the Enterprise Risk Management (ERM) function at Kotak Life. He also manages Products Development, Shareholders Valuations, Assets Liability Management, Analytics, Capital management, Balance Sheet Management, Business Planning, business mix management and Insurance Portfolio Reinsurance Management.

Sunil is a member of key leadership team at Kotak Life which drives the growth charter and business Management of the organization.

Sunil has over 30 years of globally diversified experience in the insurance and reinsurance business management. He has been in the leadership roles across these business in various markets including India, Unites States of America (USA), United Kingdom (UK) and South East Asia (SEA). Prior to this he has been Appointed Actuary at Kotak Life for over 8 years. Before joining Kotak Life, Sunil was Senior Vice President and Head of Actuarial at ICICI Prudential Life Insurance Co. Ltd. He has also worked in various leadership positions with Swiss Reinsurance Company (Swiss Re), GE Financial Assurance (GEFA) Holdings, Inc. and Life Insurance Corporation of India (LIC).

Sunil is immediate Past President of Institute of Actuaries of India (IAI), a statutory body under Actuaries act, 2006 and has been a Council member of International Actuarial Association (IAA). He has been a member of Insurance Advisory Committee (IAC) of IRDAI.

He proactively participates in industry forums in India and overseas to speak on Insurance and Actuarial topics. He is currently Chair of Education Advisory Group (EAG) of Institute of Actuaries of India (IAI).

Sunil is a qualified Actuary and a Fellow Member of Institute of Actuaries, UK (FIA) and Institute of Actuaries of India (FIAI).

In his free time, Sunil likes to travel and listen to Indian Hindi music.

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Mr. Hitesh VeeraKotak Mahindra Life Insurance Company Limited | Joint President & Head – Operations

Hitesh Veera is the Jt President and Head - Operations, Customer Service, Admin, Underwriting & Claims at Kotak Mahindra Life Insurance Company (Kotak Life). He is responsible for ensuring operational efficiencies and seamless customer experience at all interface points. He has played a seminal role in ramping up the Operations function to its present scale and form, and is credited with establishing and managing a highly efficient operations backbone.

Hitesh joined the Kotak Mahindra Group as a management trainee more than 25 years ago and has been with the Life Insurance business since 2007. In his immediate prior assignment, he was the business head for Alternate Business at Kotak Mahindra Prime Ltd. (KMPL).

A qualified Chartered Accountant, Cost and Works Accountant and Company Secretary, Hitesh holds 43rd Rank in the All India CA Merit List of the CA Final Exam.

Hitesh enjoys listening to music and spending time with family. He is especially passionate about visiting places of historical importance and loves exploring different cultures.

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Mr. Cedric FernandesKotak Mahindra Life Insurance Company Limited | Joint President & Chief Financial Officer

In his capacity as the Jt President and Chief Financial Officer (CFO) of Kotak Mahindra Life Insurance Company Limited (Kotak Life), Cedric Fernandes is responsible for financial planning and overseeing matters related to financial management at the firm including compliance, legal and financial control.

He has more than two decades of work experience, most of which has been with the Kotak Mahindra Group. In his immediate prior assignment, he was the head of finance and accounts functions at the company, where he played a vital role in establishing processes and systems conforming to global best practices.

Prior to joining Kotak Life, Cedric headed the process and audit control functions at Kotak Mahindra Finance Ltd. He started his career at Coopers and Lybrand, which was among the global leaders in audit and assurance at its time.

Cedric is a qualified Chartered Accountant and Cost and Works Accountant. He is also a Fellow of the Insurance Institute of India (FIII). His hobbies include watching sports and listening to music.

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Ms. Kirti PatilKotak Mahindra Life Insurance Company Limited | Joint President & Chief Technology Officer

Kirti Patil, Joint President & Chief Technology Officer at Kotak Mahindra Life Insurance Co. Ltd. (Kotak Life), spearheads its technology and digital functions. She is a member of Kotak Life’s executive management council that charters company’s growth.

Kirti joined the company in 2003. Over the years, she has been instrumental in giving Kotak Life’s tech strategy a cutting edge by implementing several transformational initiatives including mobile based selling, video based customer calling, OCR/ICR based BPM, Conversational AI, RPA , Instant Servicing, etc. to enhance customer, distributor and employee experience.

Driven to build excellence through technology, Kirti has been an early adopter of several technologies like datacentre and desktop virtualisation, hyper converged infrastructure, flash storage, data reduction technologies and block level replication to name a few. With over two decades of experience spanning manufacturing and BFSI sector, Kirti has won several industry accolades for her initiatives.

She started her career with Bayer India and moved on to International Rectifier where she was responsible for implementation of IT systems in the APAC region. Later she re-joined Bayer and handled their technology integration and standardisation across 12 group companies in India.

Kirti holds a Bachelor’s Degree in Engineering from VJTI and an MBA from Mumbai University.

An advocator of women’s empowerment, Kirti has a passion for reading and loves cooking.

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Ms. Radhavi DeshpandeKotak Mahindra Life Insurance Company Ltd. | Joint President & Chief Investment Officer

Radhavi Deshpande is the Joint President and Chief Investment Officer (CIO) at Kotak Mahindra Life Insurance Company (Kotak Life) since April 2021.

Prior to this role, Radhavi was heading the proprietary trading vertical at Kotak Mahindra Bank’s treasury department with expertise in Fixed Income and Equity Trading.

She started her career with Kotak in 1996 and has rich experience in Proprietary Trading and Fixed Income sales.

An MBA from Institute of Management Education Pune, Radhavi is an avid traveller and a yoga enthusiast. Her other interests include playing sports.

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Ms. Ruchira BhardwajaKotak Mahindra Life Insurance Company Ltd. | Joint President and CHRO

Ruchira Bhardwaja is the Chief Human Resource Officer (CHRO) at Kotak Mahindra Life Insurance Company Ltd. (Kotak Life).

She joined Kotak Life in March 2021 and brings with her over 25 years of rich experience across diverse industries such as Manufacturing, Consulting, Hospitality, Retail, Banking & Insurance. In addition to Human Resources, Ruchira had the opportunity to contribute towards New Product Development, Business Excellence, Knowledge Management and Business Ethics initiatives in the organizations she has worked with.

Prior to joining, she spent 14 years with the Tata group where she had a multi-company stint spanning between well-established market leaders such as Rallis, Taj to start-ups like CROMA. She has also worked in the BFSI sector with companies like Axis Bank and Future Generali India Life Insurance.

An alumni of IRMA, NMIMS, and BHU, Ruchira is GTML certified (what does this mean / stand for) from The Wharton School, USA. She is a visiting faculty at NMIMS and is zealous about mentoring working women professionals in her personal capacity.

Ruchira creates time to learn and hone new skills outside of the workplace. She is an avid photographer and considers herself as a decent story-teller.

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Mr. Vivek PrakashKotak Mahindra Life Insurance Company Ltd. | Joint President & Head of Agency

Vivek Prakash is the Head of Agency Channel at Kotak Mahindra Life Insurance Company Ltd. (Kotak Life). He joined the company in 2012 and has made this channel one of the fastest growing agency channel as well as one of the largest recruiter of new advisors in the Indian Life Insurance Industry.

With overall experience exceeding 25 years in NBFC and Life Insurance Industry, Vivek has worked in different parts of the country with core area of expertise being Agency Channel. Prior to joining the Kotak Mahindra Group, he spent a decade with Tata AIA Life Insurance Co. Ltd (Formerly known as Tata AIG)

An MMS in Finance from Sydenham Institute of Management Mumbai – batch of 1996, Vivek also completed his Accelerated Development Program in General Business Administration & Management from the Wharton school in 2018.

Vivek likes to travel in his free time.

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Mr. Piyush TrivediKotak Mahindra Life Insurance Company Ltd. | Joint President & Head – Alternate, Direct & Digital Channels and Product Marketing

Piyush Trivedi heads the Alternate, Direct & Digital Channels and Product Marketing at Kotak Mahindra Life Insurance Company Limited (Kotak Life). In addition to leading product development, Piyush manages various distribution verticals and the digital business.

In his journey with Kotak Life sine 2004, Piyush has driven a number of new initiatives right from concept level to making them large profitable business units. He has helped scale the alternate channel and has strengthened the company’s customer engagement process across distribution channels - bancassurance, brokers, corporate agents and also the new bancassurance and strategic tie-ups.

Piyush has over two decades of work experience, all of which has been with the Kotak Mahindra Group. Prior to that, he was heading Kotak Mahindra Prime Limited’s Credit and Risk function.

Piyush is a qualified Chartered Accountant from ICAI and a Certified Management Accountant (CMA) from CIMA, UK.

An avid reader with interests ranging from business, finance, technology to history & philosophy, he sees each activity as an opportunity to learn something new and enjoys converting complex business situations into value creating business models.

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Mr. Subhasis GhoshKotak Mahindra Life Insurance Company Limited | Joint President & Head - Financial Institutions, Employee Benefits, Marketing & Alliances

Subhasis Ghosh helms the Marketing, Group Insurance, and Strategic Alliances divisions for Kotak Mahindra Life Insurance Company (Kotak Life).

With over three decades of experience in the BFSI sector, most of which is with the Kotak Mahindra Group, Subhasis has worked in diverse areas such as retail assets and liabilities, corporate finance, treasury and life insurance. Subhasis was part of the founding team that set up Kotak Life in 2001. He was instrumental in setting up and overseeing the Tied, Alternate and Group business divisions in eastern India.

Subhasis has done his B.Com (Hons) from Calcutta University.

Mythology, Vedic and ancient Indian history fascinate Subhasis, and he loves to read, write and speak on the subjects.

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