Canadian billionaire Prem Watsa’s Fairfax India Holdings-backed general insurance company Digit Insurance, operated by Go Digit General Insurance Ltd, has appointed Jasleen Kohli as its new Managing Director and Chief Executive Officer.
Go Digit General Insurance Ltd is a subsidiary of IIFL Asset Management-backed cloud insurance unicorn Go Digit Infoworks Services Pvt Ltd.
Unicorns are startups with over $1 billion valuation.
Kohli will be taking charge as Digit Insurance’s MD and CEO on April 20, the company said in a statement on Monday.
Kohli will succeed Vijay Kumar, who was in charge of Go Digit General Insurance since its inception in 2017. Kumar will superannuate from the organization on April 19.
Prior to being appointed as the Managing Director and Chief Executive Officer, Kohli overlooked all sales and distribution channels of Digit as its Chief Distribution Officer, Digit Insurance said.
She has been with the company since its inception and is also the first employee of Digit, the company said.
“I am confident Jasleen will execute Digit's ambitious growth plans with ease and take the company to greater heights in the coming years. As a passionate veteran of this industry, I will keenly keep an eye on Digit as it transforms the insurance space through its tech capabilities in the coming years,” said Kumar.
Digit Insurance said Kohli has nearly 19 years of experience in the life and general insurance industry. She last served as the Director at Allianz Technology before joining Digit Insurance in 2017.
At 42, Kohli will become one of the youngest CEOs in the insurance industry, Digit Insurance said.
“The bold ideas that Vijay brought to the table and the guidance he provided across the board will surely be missed by all our colleagues including me.
Jasleen’s agile market strategies and her prudent operational planning have aided the company in expanding its presence at an accelerated pace despite the pandemic,” said Kamesh Goyal, Chairman, Digit Insurance.
“Her people and resultoriented focus will surely put Digit on the path of rapid growth that we have all envisioned,” Goyal added.
The company also said that it promoted Adarsh Agarwal from the role of Appointed Actuary to Chief Distribution Officer.
Go Digit General Insurance had recorded a net loss of a little over Rs 122 crore for 2020-21 (FY21), down from 2019-20 (FY20)’s net loss of Rs 175.2 crore, according to the company’s filings with the Ministry of Corporate Affairs. Its parent--Go Digit Infoworks Services Pvt Ltd, meanwhile, had reported a consolidated net loss of Rs 58.67 crore for FY21, against a net loss of more than Rs 193 crore for FY20.
