Parag Ved Named Director & CEO Designate At Liberty General Insurance
Liberty General Insurance has appointed Parag Ved as its Director & CEO Designate, effective 20 September 2023. Prior to joining Liberty, Ved served as the President of Consumer Lines at Tata AIG General Insurance. With a career spanning over 24 years, he has dedicated nearly two decades to the insurance industry, holding senior leadership positions in renowned organisations, including ICICI Lombard General Insurance. Known for his commitment to innovation and excellence, as well as his expertise in managing strategic channels, Ved has established himself as a prominent figure in the General Insurance sector.
Ved's journey in the insurance sector underscores his ability to drive sustainable growth through innovation and tailored product offerings for the Indian market. His tenure with industry leaders demonstrates his proficiency in managing diverse strategic channels.
Ved holds a bachelor’s degree in Electronics Engineering from K.J Somaiya College of Engineering, Mumbai, and a master’s in management from SVKM's Narsee Monjee Institute of Management Studies (NMIMS).
Defne Turkes, President – Asia Retail Markets, Liberty Mutual Insurance, welcomed the new Director & CEO designate, stating, "We are delighted to welcome Parag Ved to Liberty General Insurance. His extensive experience, combined with his visionary approach, positions him uniquely to lead the future of Liberty General Insurance in India. His appointment not only marks the beginning of an exciting new chapter but also underscores our unwavering commitment to providing top-notch insurance solutions to our customers."
Parag Ved, Director & CEO designate, Liberty General Insurance, commented on his appointment, saying, “In recent years, Liberty has established a strong presence, and it is a privilege to lead the organisation, especially in these dynamic times and evolving insurance landscape. As the industry undergoes rapid transformations, my focus will be on harnessing innovation, enhancing operational efficiency, and optimising stakeholder engagement. Additionally, using a data-driven approach will underscore the continuous refinement and expansion of product offerings to align with customer needs and industry standards. I look forward to collaborating closely with the team. Together, I believe we can significantly contribute to taking Liberty to new heights. As we progress, our commitment remains steadfast in aligning strategies and operations with the regulator's vision of achieving widespread insurance coverage across the nation by 2047.”
Ved assumes this role following the retirement of Roopam Asthana, who played a pivotal role in establishing Liberty’s business operations in India. Under Asthana's visionary leadership for over a decade, the company thrived and set substantial industry benchmarks.
