Digit Life Insurance has named insurance industry veteran Venkatesh Naidu as chief distribution officer, the insurer announced on Monday.
Naidu joins after spending more than four years at Bajaj Capital Insurance Broking, most recently as chief executive officer. Earlier in his career, he also worked at Exide, ING Life, Bharti Axa Life, and ICICI Prudential Life (now ICICI Life).
He brings more than 26 years of experience in life and health insurance distribution spanning across agency, bancassurance, broking, direct, and digital channels.
Commenting on his appointment, Naidu said, “India needs insurance more than almost anywhere, yet remains deeply under-penetrated. Closing that gap needs serious, organized innovation, and Digit Life is well placed to deliver it.” He added that Digit Life will focus on expanding access to its solutions through both digital and physical channels over the next 12 months.
Digital distribution is expected to play an increasingly important role in the sector’s growth. According to GlobalData, India’s life insurance industry is projected to grow to ₹12.9trn (US$130bn) by 2030 from ₹9.8trn in 2026. The data and analytics firm said growth will be supported by regulatory liberalisation, tax reforms, and the upcoming launch of the Insurance Regulatory and Development Authority of India-backed Bima Sugam digital insurance marketplace.
