TheNFAPost Podcast

Chennai, NFAPost: SBI General Insurance Company Limited has announced the appointment of Prakash Chandra Kandpal as its new Managing Director and Chief Executive Officer. He was nominated by parent State Bank of India for the position and has been appointed w.e.f July 20, 2020.

Kandpal has been with SBI General Insurance as the Deputy CEO since June 2019.

PC Kandpal, DMD SBI, is a seasoned banker, and has more than 33 years of experience with SBI. His stint at SBI involves experience in both retail and international banking, human resource, technology and learning and development. He also had a stint in SBI Mutual Fund as the Chief Operating Officer.

Pushan Mahapatra, the former MD & CEO has been appointed as Director-Strategic Investments & Digital Initiatives and continues to be Whole Time Director, SBI General Insurance.

Ever since its establishment in 2009, from 17 branches in 2011, SBI General Insurance has expanded its presence to around 123 branches pan-India.

The company follows a robust multi-distribution model encompassing Bancassurance, Agency, Broking and Retail Direct Channels. Today, its distribution family includes over 22,900 IRDAI certified employees including the State Bank Group employees, and over 12,000 Agents to make insurance easily available even in the remote areas of the country.

On the distribution network front, it has strong distribution partners adding up its reach to every nook and corner of India, with SBI’s over 22,000 branch network, other financial and digital partners. The insurance company’s current geographical exposure covers over 125 cities pan-India with a presence of another 350 locations through satellite resources.

It currently serve three key customer segments – Retail Segment (catering to Individual & Families), Corporate Segment (catering mid to large size companies) and SME Segment; and are future-ready to serve the growing needs of Indians with new age-processes and services at affordable prices.

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