Max Bupa appoints Ashish Mehrotra as MD & CEO
A retail banking veteran, Ashish will help the business fortify its position and achieve quantum growth
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 is set 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.
About Max Bupa Health Insurance
Max Bupa is a, 74:26, joint venture between Max India Limited, a multi-business corporate with expertise in life insurance and health care and Bupa, a leading global health and care company with 65 years of healthcare knowledge. Max Bupa brings together a combination of Bupa’s health insurance and customer service expertise with Max India’s understanding and experience of the Indian health and insurance sectors. Max Bupa offers quality health insurance services through a dedicated team of over 1400 people and its network of 26 offices across 16 cities - Delhi, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Ludhiana, Chandigarh, Jaipur, Surat, Kochi, Kolkata, Patna, Goa and Jodhpur. Max Bupa offers individual and family oriented health insurance policies for Indians across all age groups. Max Bupa has a direct working relationship with a network of over 3500 top quality hospitals and healthcare providers, with plans to extend its network of hospitals to other parts of the country. Max Bupa services customers directly without third party involvement. For more details about the company and a list of all our network hospitals please visit www.maxbupa.com.
About Max Group
Max Group is a leading Indian multi-business corporate with a commanding presence in the Life Insurance, Healthcare and Health Insurance sectors. In the financial year 2015, the Group recorded a consolidated turnover of Rs 14,877 Cr. It has a total customer base of over 7.5 million, nearly 300 offices spread across India and people strength of around 17,000 as on 31st March 2015. Max India Limited is a widely held company, listed on the BSE and the NSE. Its founder sponsor Analjit Singh holds 40.5% stake in the company. Other shareholders include some of the world’s best Institutional Investors such as Goldman Sachs, Temasek, IFC (Washington), Fidelity and New York Life.
Bupa’s purpose is longer, healthier, happier lives.
As a leading global health and care company, we offer health insurance, medical subscription and other health and care funding products; we run care homes, retirement and care villages, primary care, diagnostic and wellness centres, hospitals and dental clinics. We also provide workplace health services, home healthcare, health assessments and long-term condition management services.
We have 29m customers in 190 countries. With no shareholders, we reinvest our profits to provide more and better healthcare and fulfil our purpose. We employ almost 80,000 people, principally in the UK, Australia, Spain, Poland, New Zealand and Chile, as well as Saudi Arabia, Hong Kong, India, Thailand and the USA.
For more information, visit www.bupa.com.