Puneet Gupta, a seasoned lawyer with over 15 years of experience, has joined Niva Bupa Health Insurance as its new Legal Head, after leaving Axis Max Life Insurance. Gupta has a rich background in litigation, having worked in both the general insurance and real estate sectors. He has also worked with various functions at Axis Max Life, including HR, investment advisory, and corporate advisory.
In his new role, Gupta is looking to bring innovation and excellence to the legal function, leveraging technology and strategic alliances to help achieve business goals. He also plans to develop future leaders within the legal team. However, he acknowledges that there will be challenges, particularly in adapting to the different business dynamics of health insurance compared to life insurance.
Gupta notes that health insurance involves shorter-term policies, a higher frequency of claims and renewals, and a customer-intensive litigation environment. He believes that understanding and adapting to these business dynamics will be crucial in his new role.
Gupta is optimistic about the future of the Indian insurance industry, citing the recent approval of 100% FDI in insurance as a significant development. He believes that this will attract global giants to the under-penetrated Indian market. Additionally, he expects the composite licensing regime to enable companies to offer integrated, one-stop insurance solutions to customers, enhancing customer convenience and satisfaction.
Overall, Gupta is excited about the new challenge and opportunities ahead, and is looking to make a strong contribution to Niva Bupa Health Insurance as its new Legal Head.