Simmi Singh Bisht: Strategizing Compliance For Healthcare Excellence
Simmi Singh Bisht
CCO & Company Secretary
Simmi holds bachelor's degrees in law and commerce from the University of Mumbai and a master's degree in law from Shreemati Nathibai Damodar Thackersey (SNDT) Women's University, Mumbai. A qualified company secretary with the Institute of Company Secretaries of India (ICSI), she leads Medi Assist, India's largest health benefits administrator managing around 20 percent of the total health insurance premiums of India in FY24, amounting to Rs.19,000 crores.
It has a 40 percent share in the TPA industry and has acquired 4 TPAs in the last 7 years including erstwhile-United Healthcare group's TPA and Raksha TPA. It also owns a global health benefits administration business in the UK which manages health benefits for Indian corporates and seafarers across 140+ countries. Recently, Medi Assist celebrated its listing on BSE and NSE, marking a significant milestone in its journey. Let’s hear more from her in this one-on-one interaction.
What motivated you to pursue a career in the legal field, and what fuels your passion as an industry leader today?
Legal and compliance are essential pillars of any company.
The legal department plays a critical role by strengthening agreements, safeguarding the company's intellectual property, and managing conflicts in business relationships. Compliance is vital for building trust among stakeholders. Professionals in legal and compliance interact with nearly everyone associated with the company, including the board of directors, leadership, various departments, shareholders, regulators, and counsels. This broad interaction and the pivotal role of legal and compliance in business intrigued me and motivated me to pursue a career in this domain.
What factors do you consider when developing and implementing compliance policies and procedures?
Compliance is crucial, especially in today's era. When developing and implementing compliance policies and procedures, I strive to make them simple for users to understand and follow. I pay close attention to timelines, ensuring that implementation occurs within the compliance due date. Additionally, I consider the unique needs and challenges of the organization to create practical and effective compliance measures. This approach ensures that compliance is not only achieved but also maintained efficiently.
Can you describe your leadership approach and the guidelines or methodologies you adhere to as a leader?
My leadership approach is flexible and adapts based on my team's needs, the tasks we are tackling, and the environment we are operating in. I believe in fostering a fair and open culture. I consistently remind my team that while I am their leader today, they will be leading their own teams in the future. With this in mind, I guide, encourage excellence, motivate, and engage in thoughtful discussions with my team. However, my primary focus remains on getting the task done effectively and efficiently.
What factors do you consider when developing and implementing compliance policies and procedures?
Compliance is crucial, especially in today's era. When developing and implementing compliance policies and procedures, I strive to make them simple for users to understand and follow. I pay close attention to timelines, ensuring that implementation occurs within the compliance due date. Additionally, I consider the unique needs and challenges of the organization to create practical and effective compliance measures. This approach ensures that compliance is not only achieved but also maintained efficiently.
My leadership approach is flexible & adapts based on my team's needs, the tasks we are tackling, & the environment we are operating in
Can you describe your leadership approach and the guidelines or methodologies you adhere to as a leader?
My leadership approach is flexible and adapts based on my team's needs, the tasks we are tackling, and the environment we are operating in. I believe in fostering a fair and open culture. I consistently remind my team that while I am their leader today, they will be leading their own teams in the future. With this in mind, I guide, encourage excellence, motivate, and engage in thoughtful discussions with my team. However, my primary focus remains on getting the task done effectively and efficiently.
This balance ensures both immediate productivity and long-term leadership development.
How do you stay current with industry trends to effectively guide your organization towards the future?
To stay current with industry trends, I read newsletters, publications, and industry reports, attend webinars, and network with industry peers. When I come across a relevant update, I ensure to share it with my team and the appropriate department. This proactive approach keeps everyone informed and helps steer the organization towards future success.
What major challenges did you face when establishing yourself as a successful leader, and how did you overcome them to emerge as a successful professional?
As mentioned before, I started heading the department at an early age. Initially, it was challenging for people to accept my authority due to my youth.
However, over time, as colleagues got to know me better, they became more receptive to my leadership and suggestions. I am highly intuitive and understood the reluctance towards me. Despite this, I did not let it affect my work or my confidence. I firmly believed that if I remained true to myself, performed my job diligently, and prioritized the company's interests, everything would eventually fall into place.
This approach proved to be effective. By consistently demonstrating my competence and dedication, I gradually earned the respect and trust of my colleagues. This experience reinforced my belief that authenticity, hard work, and a focus on the greater good are key to overcoming initial challenges and establishing oneself as a successful professional. This principle continues to guide me in my career today, ensuring that I maintain the trust and respect of those I work with.
What future destination are you aiming for?
I am aiming for a larger platform with more impactful and meaningful assignments in the future. While pursuing these goals, I also intend to savor every moment of my professional journey, enjoying the challenges and opportunities that come my way.
How do you stay current with industry trends to effectively guide your organization towards the future?
To stay current with industry trends, I read newsletters, publications, and industry reports, attend webinars, and network with industry peers. When I come across a relevant update, I ensure to share it with my team and the appropriate department. This proactive approach keeps everyone informed and helps steer the organization towards future success.
What major challenges did you face when establishing yourself as a successful leader, and how did you overcome them to emerge as a successful professional?
As mentioned before, I started heading the department at an early age. Initially, it was challenging for people to accept my authority due to my youth.
However, over time, as colleagues got to know me better, they became more receptive to my leadership and suggestions. I am highly intuitive and understood the reluctance towards me. Despite this, I did not let it affect my work or my confidence. I firmly believed that if I remained true to myself, performed my job diligently, and prioritized the company's interests, everything would eventually fall into place.
This approach proved to be effective. By consistently demonstrating my competence and dedication, I gradually earned the respect and trust of my colleagues. This experience reinforced my belief that authenticity, hard work, and a focus on the greater good are key to overcoming initial challenges and establishing oneself as a successful professional. This principle continues to guide me in my career today, ensuring that I maintain the trust and respect of those I work with.
What future destination are you aiming for?
I am aiming for a larger platform with more impactful and meaningful assignments in the future. While pursuing these goals, I also intend to savor every moment of my professional journey, enjoying the challenges and opportunities that come my way.