Global CEO Excellence Awards 2020

42 CEO MONTHLY / GLOBAL CEO EXCELLENCE AWARDS 2020 , Insurance CEO of the Year 2020 (Southeast Asia): Nishit Majmudar In Singapore, Aviva is one of the biggest providers of employee benefits and healthcare. This includes protecting Singapore Armed Forces servicemen since 1983 and being appointed provider for the Ministry of Home Affairs. Aviva is also the appointed insurer for all eligible public officers and their families. The comprehensive suite of insurance solutions Aviva offers includes protection and health, general insurance, savings and investment, as well as group insurance, all of which is vitally important to sustain normality to a life. At Aviva, the firm helps its customers look to the future with confidence, because it understands that what its clients does today, creates what is possible for tomorrow. None of this would be possible, without the exceptional leadership of CEO Nishit Majmudar. Nish, as he is affectionately known by colleagues, brings more than three decades of experience in the life insurance market, and has held a variety of senior roles across the Asia Pacific region including Singapore, India, Thailand, and the Philippines, as well as the United Kingdom. Nish took over the role of CEO for Aviva Singapore eight years ago in February 2012, and is currently appointed to a number of other roles, including Executive Director of Aviva Ltd. In this capacity as CEO and leader, Nish is responsible for recommending strategic and tactical plans to the Board of Directors in order to achieve targets set for Business Units, and he also oversees the implementation of these plans. However, it is arguably Nish’s past roles that have most effectively paved the way for his current role as CEO. The sheer breadth of roles have helped him to become a strong communicator, and someone who is able to influence people by connecting the dots and helping others see the big picture. Having previously served in roles such as consultant, regulatory, chief actuary, head of marketing, and regional actuarial head, Nish has a wealth of experience to draw upon for any situation in which he finds himself. The experience of learning and working in different countries has also taught Nish that it is not always about accumulating experience, but learning how to apply that in an effective manner. His first learning experience on breadth was working with the Prime Minister and Tharman Shanmugaratnam (Senior Minister of Singapore), at the Monetary Authority of Singapore. Since taking over as CEO, Nish has had a measurable impact on the work being done at Aviva Singapore, with the firm experiencing stellar business growth. In 2015, Nish refreshed the company strategy by focusing distribution in the Financial Advisers channel. As a result of that differentiated strategy, Aviva Singapore is well- positioned to deliver sustained growth, and the three year CAGR between 2016 to 2019 is at 26%. With Nish’s steadfastness and leadership, Aviva Singapore has become stronger than ever and closer to its goal of being the leading insurer in Singapore. Nish may have come from a modest background, growing up in a small suburb in Mumbai to parents who instilled his love of learning, but his current achievements are a perfect example of hard work and determination. However, along the way he has experienced failure. What is always important to remember, and a key life lesson that Nish often imparts, is that failure is just as insightful as success. Since then, he has viewed every problem as an opportunity for learning and growth. It is this mindset that has served him so well, and he constantly urges young talents in Aviva Singapore to be curious, learn things in other areas, and invest time in growing personally as well as professionally. Nish is a truly inspiring leader, and Aviva Singapore has felt the benefits of his outstanding leadership for the last eight years. Company: Aviva Singapore Contact: Nishit Majmudar Website: www.aviva.com.sg/en/ Jun20154 Aviva isundoubtedlyoneof themost recognisablefirms intheworld, asa trulyglobal composite insurancebrand that is respectedall around theglobe.However, theSingaporeanarmof the company is the focus today,withits excellent insurance servicecoveringapproximately1.5million customers andmanagingclose to twelvebillionSingaporeandollars inassets.Muchof this success canbeattributed toCEONishitMajmudar, orNish, ashe is affectionatelyknownbycolleagues.We findout justhowthisCEOhasdone somuchforAvivaSingapore, andwhat isnext forboth.