Sameer Samdani: A Trailblazing Leader Driving Growth In Insurance Industry
Sameer Samdani
CEO
Could you please share details about your background, including your educational qualifications and career journey up to this point?
I am Sameer Samdani (Sam). I bring over two decades of experience in the insurance industry. Commencing my career with Bajaj Allianz, I have held diverse roles with notable companies such as Reliance General Insurance and Toyota Tsusho Insurance Broking. At Reliance, I managed various verticals like travel, motor, and Banca and later served as a branch manager.
In 2014, I took charge of the national insurance program at Toyota Tsusho, boosting the business from 800 Crores to nearly 2000 crores in about seven years. I then led the establishment of Hyundai's Insurance Broking Company in 2021. I spearheaded the regulatory licensing process, and within a year, our team has grown to 60 employees. Despite being in operations for just a year, we have achieved multiple accolades from our customers and 500+ Dealer partners on the value we add in the Insurance business.
On the educational front, I hold a degree from the Indian School of Business (ISB), where I completed my Executive MBA in 2022, during the pandemic. This blend of
education and extensive work experience forms the foundation of my professional journey.
How does your industry expertise guide your role in overseeing the day-to-day operations at Hyundai India Insurance, and how does your past career experience influence your decision-making?
Hyundai Motors has primarily focused on manufacturing and selling cars, without venturing into insurance. In contrast, during my seven years at Toyota, I managed five insurance programs, covering a diverse range of vehicles. With this vast experience of managing MISP Programs, I was able to impress Hyundai Motors to appoint me as the CEO. Drawing from my background, I played a pivotal role in enhancing the Insurance business through best practices at all Dealerships. This industry knowledge not only facilitated successful operations but also informed ongoing efforts to strengthen Hyundai India Insurance's position in the market.
How do you utilize your industry back ground to shape your employees, ensuring they are customer-centric and equipped with innovative strategies?
I consider people management as my greatest strength. Ensuring their satisfaction cascades positively – happy employees lead to content dealers, and content dealers contribute to satisfied customers. One critical gap I've identified in the insurance industry is the lack of emphasis on education and training. Unlike many large organizations, I allocate dedicated budgets for training. I take a hands-on approach, providing personal training and collaborating with external agencies.
Given the nature of our industry, customers usually reach out in distressing situations, such as accidents or personal losses. It's paramount for us to empathize with them. Unlike a typical retail transaction, our customers seek assistance during challenging times, and I instill this empathy in my team. Resolving claims swiftly and ensuring the customer's expectations are met is crucial. The goal is to bring them back to a state of normalcy swiftly.
I instill these values in my team, fostering a culture of openness and experimentation. A core principle we uphold is respect for people, which extends beyond mere greetings to respecting diverse viewpoints.
How does your industry expertise guide your role in overseeing the day-to-day operations at Hyundai India Insurance, and how does your past career experience influence your decision-making?
Hyundai Motors has primarily focused on manufacturing and selling cars, without venturing into insurance. In contrast, during my seven years at Toyota, I managed five insurance programs, covering a diverse range of vehicles. With this vast experience of managing MISP Programs, I was able to impress Hyundai Motors to appoint me as the CEO. Drawing from my background, I played a pivotal role in enhancing the Insurance business through best practices at all Dealerships. This industry knowledge not only facilitated successful operations but also informed ongoing efforts to strengthen Hyundai India Insurance's position in the market.
Pursue your dreams with resilience, embracing a 'Never Say Die' attitude to achieve your aspirations
How do you utilize your industry back ground to shape your employees, ensuring they are customer-centric and equipped with innovative strategies?
I consider people management as my greatest strength. Ensuring their satisfaction cascades positively – happy employees lead to content dealers, and content dealers contribute to satisfied customers. One critical gap I've identified in the insurance industry is the lack of emphasis on education and training. Unlike many large organizations, I allocate dedicated budgets for training. I take a hands-on approach, providing personal training and collaborating with external agencies.
Given the nature of our industry, customers usually reach out in distressing situations, such as accidents or personal losses. It's paramount for us to empathize with them. Unlike a typical retail transaction, our customers seek assistance during challenging times, and I instill this empathy in my team. Resolving claims swiftly and ensuring the customer's expectations are met is crucial. The goal is to bring them back to a state of normalcy swiftly.
I instill these values in my team, fostering a culture of openness and experimentation. A core principle we uphold is respect for people, which extends beyond mere greetings to respecting diverse viewpoints.
In our pursuit of fostering innovation, I run campaigns such as 'Idea Express,' where employees contributing implementable ideas are acknowledged. We allocate 10 percent in every individual Key Performance Indicator (KPI) for innovation, underscoring our commitment to encouraging independent thinking. This strategy ensures that our team doesn't merely follow instructions but actively engages in thoughtful problem-solving.
How do you stay updated on the latest technologies, industry trends, and consumer dynamics?
I believe that maintaining a contemporary understanding of industry dynamics is paramount. Being an alumnus of the Indian School of Business has proven instrumental in this regard. The robust network I've cultivated through this affiliation facilitates a continuous exchange of insights among business leaders. Additionally, strategic partnerships with major organizations like Amazon, Precision & Binary Semantics, serving as our IT partners, play a pivotal role.
Collaborating closely with these partners ensures that I am apprised of any updates or innovations in the realm of digital technology. This collaborative approach, coupled with insights from my internal IT team, collectively ensures that I am well-informed and equipped to navigate the dynamic landscape of technology and industry trends.
What advice do you have for aspiring professionals in the insurance sector?
Firstly, prioritize technical qualifi-cations, given the industry's complexity with over 300 products and the ever-changing risks, Embrace continuous learning, viewing interactions with industry leaders as opportunities to glean knowledge. Thoroughly understand insurance nuances to avoid financial ramifications. Secondly, recognize technical intricacies, ensuring accurate policies for safe-guarding individuals and businesses. Precision is crucial, especially when dealing with high-value assets. Lastly, cultivate a passion for your work, as hard work and unwavering commitment are indispensable. Pursue your dreams with resilience, embracing a 'Never Say Die' attitude to achieve your aspirations.
Sameer Samdani, CEO, Hyundai India Insurance Broking
Sameer Samdani is a seasoned insurance leader with decades of experience, navigating pivotal roles at Bajaj Allianz, Reliance, and Toyota Tsusho. Now, as the CEO of Hyundai India Insurance Broking, his visionary leadership achieved a stellar 3500 crores premium within a year, reshaping the industry landscape.
How do you stay updated on the latest technologies, industry trends, and consumer dynamics?
I believe that maintaining a contemporary understanding of industry dynamics is paramount. Being an alumnus of the Indian School of Business has proven instrumental in this regard. The robust network I've cultivated through this affiliation facilitates a continuous exchange of insights among business leaders. Additionally, strategic partnerships with major organizations like Amazon, Precision & Binary Semantics, serving as our IT partners, play a pivotal role.
Collaborating closely with these partners ensures that I am apprised of any updates or innovations in the realm of digital technology. This collaborative approach, coupled with insights from my internal IT team, collectively ensures that I am well-informed and equipped to navigate the dynamic landscape of technology and industry trends.
What advice do you have for aspiring professionals in the insurance sector?
Firstly, prioritize technical qualifi-cations, given the industry's complexity with over 300 products and the ever-changing risks, Embrace continuous learning, viewing interactions with industry leaders as opportunities to glean knowledge. Thoroughly understand insurance nuances to avoid financial ramifications. Secondly, recognize technical intricacies, ensuring accurate policies for safe-guarding individuals and businesses. Precision is crucial, especially when dealing with high-value assets. Lastly, cultivate a passion for your work, as hard work and unwavering commitment are indispensable. Pursue your dreams with resilience, embracing a 'Never Say Die' attitude to achieve your aspirations.
Sameer Samdani, CEO, Hyundai India Insurance Broking
Sameer Samdani is a seasoned insurance leader with decades of experience, navigating pivotal roles at Bajaj Allianz, Reliance, and Toyota Tsusho. Now, as the CEO of Hyundai India Insurance Broking, his visionary leadership achieved a stellar 3500 crores premium within a year, reshaping the industry landscape.