Priyank Sapra : Excelling In Financial & Insurance Domains With Forward Perspectives
Priyank Sapra
Executive Director & Co-Founder
In a candid interview with CEO Insights, Priyank shared with us his overall experience with the industry and the latest industry trends.
Share the story of your growth journey and the lessons you've learned from both the challenges and successes along the way.
I've spent 22 years in the insurance industry, primarily in health and general insurance, working with brands like ICICI Lombard, HDFC ERGO, and Aditya Birla Capital. Over the past decade, I've held a national level role in top management. Throughout my journey, I've learned that creating value for customers is essential for driving business success. My extensive experience has shown me that customer centric products, efficient processes, and strategic use of technology naturally align with both top-line and bottom-line goals.
The challenge lies in developing the right product propositions and delivering them effectively. By prioritizing customer needs, ensuring efficient operations, managing risks effectively, and leveraging technology for
enhanced service, we can achieve our objectives. Compliance with regulations, paired with the right sales models, ensures everything else falls into place, balancing both growth and profitability. These lessons have significantly shaped my leadership and business management approach in the insurance sector.
What inspired the foundation of Finizon Insurance, and how do you leverage your experiences to guide its strategic growth?
Finizon is an organization that uncovers new market opportunities, driving Delta forward and expanding the industry landscape. I was part of the initial journey with ICICI Lombard and HDFC ERGO as they established their retail businesses. This experience allowed me to be involved in the foundational stages of these startups, gaining valuable insights and expertise in building a business from the ground up and understanding the challenges of the industry's early phase. With this deep industry knowledge, I recognized that a startup with Finizon's vision could disrupt the market, motivating me to join the team. Given that 93percent of the broking industry’s business is in non-life insurance, where I’ve spent 22 years, my expertise in product, process, and P&L management is invaluable. This experience enables me to build the Finizon franchise meaningfully and achieve growth faster than typical broking companies.
Given your extensive experience in the banking and insurance industry, what practices do you mentor your team on to ensure both organizational and personal growth?
One thing I expect from my team is agility and speed. I am a strong believer in no-excuse leadership. Challenges and difficulties will arise, but finding solutions is crucial. I don't evaluate people solely based on outcomes; I look at their intent first. Success isn’t guaranteed every time, but the key is making the right efforts, having the correct intent, and aligning with organizational goals. In the long run, you will encounter speed bumps and challenges. However, if your intent is right and you remain committed and sincere in your work, you will overcome
What inspired the foundation of Finizon Insurance, and how do you leverage your experiences to guide its strategic growth?
Finizon is an organization that uncovers new market opportunities, driving Delta forward and expanding the industry landscape. I was part of the initial journey with ICICI Lombard and HDFC ERGO as they established their retail businesses. This experience allowed me to be involved in the foundational stages of these startups, gaining valuable insights and expertise in building a business from the ground up and understanding the challenges of the industry's early phase. With this deep industry knowledge, I recognized that a startup with Finizon's vision could disrupt the market, motivating me to join the team. Given that 93percent of the broking industry’s business is in non-life insurance, where I’ve spent 22 years, my expertise in product, process, and P&L management is invaluable. This experience enables me to build the Finizon franchise meaningfully and achieve growth faster than typical broking companies.
I believe that a sustain able system thrives on its own, proving its strength & reliability over time
Given your extensive experience in the banking and insurance industry, what practices do you mentor your team on to ensure both organizational and personal growth?
One thing I expect from my team is agility and speed. I am a strong believer in no-excuse leadership. Challenges and difficulties will arise, but finding solutions is crucial. I don't evaluate people solely based on outcomes; I look at their intent first. Success isn’t guaranteed every time, but the key is making the right efforts, having the correct intent, and aligning with organizational goals. In the long run, you will encounter speed bumps and challenges. However, if your intent is right and you remain committed and sincere in your work, you will overcome
these obstacles over time. I believe in supporting such team members, appreciating their efforts, and encouraging them to restart and deliver their work. As a leader, I demonstrate the expectations I have for my team and deliver on my commitments.
How do you attract industry leaders to join your venture?
To attract market leaders, I showcase the meaningful and innovative plan we have to build the organization. Our business model includes creating incentives and instilling confidence in people. In just 18 months, our achievements in the industry and against competition have inspired confidence, encouraging others to join us. We’ve built an ecosystem where people join our startup, contributing to meaningful projects and receiving due credit and success for their efforts. Our goal is to grow as an organization while recognizing our team’s contributions and fostering trust and collaboration to build a great brand together. The experience of building sustainable and successful business models for three organizations gives us confidence in our ability to add value and create meaningful outcomes for our clients.
Our achievements provide a foundation for sustained success and growth. We emphasize hard work and trust in our processes, ensuring our team contributes effectively and receives deserved respect and rewards. Our commitment to their growth fosters a supportive, motivating environment, driving the company's success and longevity. The co-founding team’s 100+ years of combined insurance experience helps attract the top talent. Our employees are driving the company's growth together and are rewarded with the success of the company. They are invested in the company's success. Despite not being a large corporation, we work with like-minded individuals who share our passion and vision for transforming the industry.
Priyank Sapra, Executive Director & Co-Founder, Finizon Insurance
Priyank Sapra, an experienced sales leader, mentors his team, develops customer centric products and creates sales tools for a progressive business. His strong work ethic and passion have driven success in building partnerships and improving profitability.
How do you attract industry leaders to join your venture?
To attract market leaders, I showcase the meaningful and innovative plan we have to build the organization. Our business model includes creating incentives and instilling confidence in people. In just 18 months, our achievements in the industry and against competition have inspired confidence, encouraging others to join us. We’ve built an ecosystem where people join our startup, contributing to meaningful projects and receiving due credit and success for their efforts. Our goal is to grow as an organization while recognizing our team’s contributions and fostering trust and collaboration to build a great brand together. The experience of building sustainable and successful business models for three organizations gives us confidence in our ability to add value and create meaningful outcomes for our clients.
Our achievements provide a foundation for sustained success and growth. We emphasize hard work and trust in our processes, ensuring our team contributes effectively and receives deserved respect and rewards. Our commitment to their growth fosters a supportive, motivating environment, driving the company's success and longevity. The co-founding team’s 100+ years of combined insurance experience helps attract the top talent. Our employees are driving the company's growth together and are rewarded with the success of the company. They are invested in the company's success. Despite not being a large corporation, we work with like-minded individuals who share our passion and vision for transforming the industry.
Priyank Sapra, Executive Director & Co-Founder, Finizon Insurance
Priyank Sapra, an experienced sales leader, mentors his team, develops customer centric products and creates sales tools for a progressive business. His strong work ethic and passion have driven success in building partnerships and improving profitability.