Tapan Singhel
Tapan Singhel | |
|---|---|
 | |
| Born | 12 August 1966 Varanasi, Uttar Pradesh, India |
| Nationality | Indian |
| Education | Banaras Hindu University Kaziranga University |
| Occupation | Insurance Professional |
| Employer | Bajaj Allianz General Insurance Co. Ltd. |
| Known for | Chairman, General Insurance Council Member, Insurance Advisory Committee (IRDAI) Member, Pension Advisory Committee (PFRDA) Former Chair, CII National Committee on Insurance & Pensions |
| Title | MD & CEO, Bajaj Allianz General Insurance Co. Ltd. |
| Spouse | Sangeeta Singhel |
| Children | Neelashma Singhel, Tushita Singhel |
| Website | www |
Tapan Singhel (born 12 August 1966) is an Indian insurance executive that has been the Managing Director and Chief Executive Officer (CEO) of Bajaj Allianz General Insurance company since April 2012. He has held leadership positions in various industry bodies, including the General Insurance Council, CII National Committee on Insurance & Pensions, and the Indo-German Chamber of Commerce. In 2023, he was appointed as an Honorary Professor of Practice at the Birla Institute of Management Technology (BIMTECH).[1]
Early life and education
[edit]Tapan Singhel was born on 12 August 1966, in Varanasi, Uttar Pradesh, India. His basic education was at La Martiniere for Boys in Kolkata and St. Peters, college in Agra. He holds a Master of Science degree in physics with a specialization in lasers & spectroscopy from Banaras Hindu University. He was also awarded an honorary doctorate in management from Kaziranga University.
Career
[edit]From 1991, Singhel started working as a direct officer at New India Assurance Company Limited, where he was in charge of several portfolios, which were accounts, IT, underwriting, claims, marketing as well as sales.
Later in 2001, he began working with Bajaj Allianz General Insurance as one of the first employees and held the position of the Chief Marketing Officer, where he was responsible for retail channels and territories. He was also involved in international projects such as establishing a retail business for Allianz in China.
Before joining Bajaj Allianz General Insurance as the Managing Director and Chief Executive Officer, Singhel took up the position in April 2012. Under his leadership, the customer base exceeded 140 million marks and the distribution network expanded to more than 1,000 outlets across India.[2] His reputation made Bajaj Allianz the most profitable general private insurer in the country. As for Bajaj Allianz, Singhel has worked with various industry bodies. Under Singhel's leadership, Bajaj Allianz General Insurance reported a 33% increase in net profit for the fiscal year 2020-21, reaching ₹1,330 crore.[3]
He was appointed as the Chair of the CII National Committee on Insurance & Pensions for the period 2020-21. He also acted as the President of the Indo German Chamber of Commerce after being the Vice President in 2013-14. Moreover, he has been serving as a director on the board of Berkshire India Limited and Berkshire Hathaway Services India Private Limited since 2011-12.
He is serving as the Chairman of the General Insurance Council, Insurance Advisory Committee (IAC) member of the Insurance Regulatory and Development Authority of India (IRDAI), and Pension Advisory Committee member of the Pension Fund Regulatory and Development Authority (PFRDA). He is also a founder director of Bima Sugam, a digital insurance platform and an Institute of Insurance and Risk Management (IIRM) board member. In 2023, Singhel was designated as an Honorary Professor of Practice at the Birla Institute of Management Technology (BIMTECH) for his role in advancing the insurance industry.
In January 2025, Singhel participated in the World Economic Forum (WEF) in Davos, where he discussed the role of technology in managing risk and driving innovation in the insurance sector. He addressed emerging challenges in the industry and highlighted the impact of digital advancements on insurance solutions.[4]
Other interests
[edit]Singhel is an active contributor to industry discussions and thought leadership.[5] He has authored articles on topics such as the role of health insurance in empowering senior citizens and the benefits of surety bonds for the infrastructure sector.[6] Tapan also has his own podcast, where he shares his insights on a wide range of topics, from insurance to entrepreneurship and a lot more.
Awards and Recognition
[edit]In 2016, Singhel won the ASSOCHAM Leadership Award-CEO. In 2017, he was recognised as one of the most promising business leaders of Asia by the Economic Times. He was honored as the 'Personality of the Year' at the Indian Insurance Summit 2017, 22nd Asia Insurance Industry Awards 2018,[7] India Insurance Summit & Awards 2019 and the Quantic’s BFSI Excellence Awards in 2021. He was also awarded the title of Best CEO at Insurance Asia Awards. In 2022, The Economic Times recognized Singhel as the 'Most Inspiring CEO'.
References
[edit]- ^ Web, The Statesman (11 November 2024). "BIMTECH appoints Tapan Singhel as honorary professor of practice". The Statesman. Retrieved 24 March 2025.
- ^ "WEF 2025 | India may have 1,000 insurance companies within a decade, says Bajaj Allianz CEO - CNBC TV18". CNBCTV18. 20 January 2025. Retrieved 8 April 2025.
- ^ "Bajaj Allianz FY21 net profit grows 33% to Rs 1,330 crore". Business Today. 3 May 2021. Retrieved 8 April 2025.
- ^ "Davos 2025: Bajaj Allianz can withstand any turbulence, Allianz withdrawal not a cause of worry: CEO Tapan Singhel". Money Control. 20 January 2025. Retrieved 8 April 2025.
- ^ "'Mandate companies to give health covers to all staff'". The Times of India. 12 September 2024. ISSN 0971-8257. Retrieved 8 April 2025.
- ^ "Tapan Singhel on Transforming Insurance in the Era of Digital Revolution". Outlook Business. 1 March 2024. Retrieved 8 April 2025.
- ^ "Home". www.asiainsurancereview.com. Retrieved 8 April 2025.