ICICI Lombard has announced the appointment of Parag Lokhande as the Head of Data Science, AI, and Startup Initiatives. This strategic move indicates the company’s focus on leveraging artificial intelligence (AI) to drive innovation and growth. Lokhande will be responsible for developing and implementing advanced machine learning solutions that align with the company’s long-term goals of digital transformation and growth.
As the Head of Data Science, AI, and Startup Initiatives, Lokhande’s primary objective will be to build and deploy AI and machine learning solutions that drive business growth. He will also focus on collaborating with emerging startups to co-create innovative solutions that are future-ready. With over 20 years of experience in the BFSI sector, Lokhande brings a wealth of knowledge in analytics, AI, and digital transformation.
Prior to joining ICICI Lombard, Lokhande served as Vice President and Head of Data Science, AI, and Analytics at HDFC Life. During his tenure, he led several data-driven initiatives that enhanced customer experience, underwriting, and operational efficiencies. His career also includes leading roles at Kotak Securities, Bajaj Finserv, and ICICI Prudential.
Lokhande’s appointment at ICICI Lombard is expected to strengthen the company’s AI capabilities and shape a robust innovation roadmap. His mandate includes deepening engagement with the startup ecosystem to co-create innovative solutions. With his strong educational background, including an engineering degree from Mumbai University and executive education from IIM Ahmedabad, Lokhande is well-equipped to lead ICICI Lombard’s AI-led innovation initiatives.
The appointment of Lokhande is a significant move for ICICI Lombard, as it demonstrates the company’s commitment to embracing AI and digital transformation. By leveraging Lokhande’s expertise and experience, ICICI Lombard aims to drive business growth, enhance customer experience, and stay ahead of the competition in the insurance industry. Overall, Lokhande’s appointment is a strategic step towards establishing ICICI Lombard as a leader in AI-led innovation and co-creation with startups.