Page 33 - The Insurance Times January 2025

Interview

“A key development at

New India Assurance is

our continued focus on

digital transformation,

enhancing customer

experience through

technology-driven

initiatives. ”

Ms. Girija Subramanian

Chairman-cum-Managing Director
New India Assurance Company

About Ms. Girija Subramanian across the industry. The ini a ve saw rate improvements in
Mrs Girija Subramanian has the unique dis nc on of India and helped improve the ICR of most companies- a
heading two of India’s major insurance companies as great learning curve in her career. Quintessen ally a team
Chairman cum Managing Director in quick succession. On person, her efforts along with her team significantly
19th June 2024, she joined as chairman and managing brought down the TAT( Turn Around Time) and claims
director (CMD) of the largest general insurer, New India pendency at GIC Re. Online claims payment was another
Assurance Co.Ltd. Mrs Subramanian joined as CMD of ini a ve, she remembers with a nge of pride. The increase
Agriculture Insurance Company of India Limited in in life insurance market share in the GIC Re por olio along
September 2022 which she held ll the me she joined New with her team and senior colleagues was yet another effort,
India Assurance Co.Ltd. Mrs Subramanian carries with her she remembers fondly.
experience of more than 35 years in the industry and has Daughter of the Late Narayanan Lakshmanan, a noted
discharged many coveted responsibili es with actuary and academic ( he was appointed actuary of HDFC
consummate elan. Mrs Subramanian holds a bachelor's Ergo) she is the second genera on in the insurance industry.
degree in sta s cs. She is a fellow member of the Insurance A worthy daughter of a worthy father. Old- mers even
Ins tute of India and also an associate member of the today remember the late Mr Lakshmanan for his teaching
Chartered Insurance Ins tute, (ACII) London. acumen at NIA Pune. Her father was a big influence in her
Way back, in 1988 She started her career as a direct recruit life.
officer in GIC Re which was then known as GIC of India. In a Her striking simplicity, down-to-earth approach and easy
career spanning over three decades, she worked in accessibility leave a las ng impression. In a way, she is
reinsurance departments across various lines of business, humility personified. A true servant-leader, who believes
including avia on, life, health, and property classes. leading is all about serving others—subordinates,
While in GIC, she played a crucial role in the execu on of the superiors, peers, stakeholders; family and friends and this
management decision to adopt average industry burn rates leadership a ribute, strikes a chord immediately with
for fire insurance as minimum rates for propor onal whoever she meets. She believes in customer-centricity and
reinsurance cessions to GIC Re by Indian General Insurance strives relentlessly for customer delight. A travel aficionado,
companies. – which saw a significant increase in price she is deeply wedded to spirituality.

The Insurance Times January 2025 29