J B Bhaskar personal email
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40 Yrs of expertise in Life Insurance Technology – 20 Yrs as CIO. Worked with Allianz, BNP Paribas, Liberty Mutual, Sunlife Intl ( United Kingdom) & LICI.Seasoned Insurance IT Professional, Committed to Agile & Frugal IT. Open source evangelist and facilitator of Digital Transformation with expertise in Life Insurance Operations, Process, Technology, Core Systems, Investments, Training and Development.Currently practicing Enterprise Architect providing training and consulting to various institutes and Insurance companies in the area of IT, operations, digitalization. Retired in April 2019 as Chief Information Officer and President for SBI Life Insurance Company (past 11yrs). Carried out major transformation projects including replacement of Core policy administration system with large scale migration of data and steered the Digital transformation. Served as the coordinator for SBI Group ( Associates and Subsidiaries) building synergy between the companiesAs member of the executive committee reporting to MD & CEO, interfaced with the Board, Audit, Risk Management and IT & IS Committees of the board. Maintained the IT cost / GWP ratio under 1 %, and IT expense / Overall Expense under 8% ( Both Best in the Industry). SBI life is the top pvt Life Insurer with 95% of New business acquired through digital mode with an annual volume of 1.5 Million policies. ( Dec 2007 to Apr 2019)Previously worked as a CIO with Bajaj Allianz Life Insurance (6yrs). Part of the wining team at Bajaj Allianz Life Insurance, set up the greenfield operations leading to be the No 1 Pvt Life Insurer in India (2007) with 600+ Branches & 200,000 Agents, Implemented policy admin systems in Allianz India, Malaysia, Japan, Russia. ( Jul 2001 to Nov 2007).At LIC UK / Sunlife International (JV) operations (2 Yrs) at London, United Kingdom, carried out replacement of Core Policy Administration System along with Y2K compliance. Project certified by Deloitte (UK) and IIT Bombay and accepted by PIA (UK).Head of Technology ( Deputy Secretary) for the LIC's investment operations initiated modernization projects by inducting COTS systems.In career spanning 40 yrs delivered IT projects for Life Insurance Industry in excess of INR 4000Cr (US$ 600 Million).For more details please contact on jbbhaskar@gmail.com
Insurance Technology
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Chief ArchitectInsurance Technology May 2019 - PresentSeasoned Insurance IT/ Insurance Professional, committed to Agile & Frugal IT. Open source evangelist and facilitator of Digital Transformation with expertise in Insurance Operations, Process, Technology, Core Systems, Investments.Working as an InsureTech Expert, consulting Insurers / start ups / IT Companies in Insurance. Domain.Retired as President & Chief Information Officer for SBI Life Insurance Company ( Dec 2007 to Apr 2019, 11Yrs).Carried bout major transformation projects including replacement of Core policy administration system with large scale migration of data and steered the Digital transformation. As member of the executive committee reporting to MD & CEO, interfaced with the Board, Audit, Risk Management and IT & IS Committees. Maintained the ( IT cost / GWP) ratio under 1 %, and (IT expense / total expense) ratio under 8% ( Both Best in the Industry). Best in class integration with Parent Bank’s IT Systems.SBI life is the top pvt Life Insurer with 95% of New business acquired through digital mode. Annual volume of 1.5 Million NB policies with NB Premium of INR 140 Billion. Total GWP INR 330 Billion, AUM INR 1410 Billion, OPEX ratio 6.8%. Multi Channel distribution network of 1,80,000 Insurance professionals from 902 own offices across the country and 22,000+ Bank Branches.Previously worked as CIO with Bajaj Allianz Life Insurance ( July 2001 to Non 2007, 6.5 yrs). Part of the wining team at Bajaj Allianz Life Insurance, set up the greenfield operations leading to be the No 1 Pvt Life Insurer in India (2007) with 600+ Branches & 200,000 Agents, Implemented policy admin systems in Allianz India, Malaysia, Japan, Russia. In career spanning 35 yrs delivered IT projects for Life Insurance Industry in excess of INR 4000Cr (US$ 600 Million).
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Presient & Cio, Member Of Executive Committee & Group It Coordinator For Associates & SubsidiariesSbi Life Insurance Company Dec 2007 - May 2019Mumbai, Maharshtra, InI head overall IT for all the SBI non-banking subsidiaries and act as a member of SBI Group IT Committee. Provide strategic leadership and vision to craft and implement IT roadmaps, operations budgets & align them together. Prepared business cases for adoption and implementation of new technologies and presented them for board approval. Built enterprise digital strategy with a roadmap for organizational adoption covering social, mobile, analytics & cloud. Standardized IT / IS policies & governance. I have taken the initiative to set up the Enterprise Architecture unit to improve the effectiveness of IT interventions and bridge the gap between Business and IT using TOGAF framework.I leveraged on my past experience and drove various change management initiatives within the organization to enhance processes, streamline operations & improve profitability. I initiated & crafted target operating model for decentralized insurance operations with a pan-India presence. Also, I re-designed target operating model with BPR using Lean Six Sigma & image enabled workflow system.I strategized & replaced legacy policy administration system with a new product covering migration of 10 million policies and 80 products, at the same time ensuring that it is robust and error free. Successfully, handled deep integration between SBI’s core banking system and SBI Life’s core system with more than 5 million transactions.I provided vision and guidance for new branch roll-out plans and handled end-to-end execution including leasing and purchase of premises for 1000 branches and launched green-field operations. I also rolled out insurance call centre with CRM & CTI solutions. I provided deep insight to processes & imparted thought leadership to enhance processes and integrate them in order to achieve higher transparency in the processes and thereby maximizing customer satisfaction resulting in higher renewal premiums. -
President & CioSbi Life Insurance Company Dec 2007 - Apr 2019Mumbai, Maharshtra, In* Retired as President & CIO and member of Executive Committee for SBI Life & Coordinator for SBI Group Associates and Subsidiaries ( Dec 2007 to Apr 2019, 11Yrs). Carried out review and revamp of the Enterprise Architecture involving major transformation projects for setting up the digital platform. Replaced the Core policy administration system with large scale migration of data and steered the Digital transformation. As member of the executive committee reporting to MD & CEO, interfaced with the Board, Audit, Risk Management and IT & IS Committees. Maintained the ( IT cost / GWP) ratio under 1 %, and (IT expense / total expense) ratio under 8% ( Both Best in the Industry). Best in class integration with Parent Bank’s IT Systems. SBI life is the top pvt Life Insurer with 95% of New business acquired through digital mode. Annual volume of 1.5 Million New Business policies with Premium of INR 140 Billion. Total GWP INR 330 Billion, AUM INR 1410 Billion, OPEX ratio 6.8%. Multi Channel distribution network of 2 Lac Agents, 900 offices across the country and 25,000+ Bank Branches.
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CioBajajallianz 2001 - 2008Bajaj Allianz, a JV between Bajaj Auto and Allianz (AG) was the fastest growing and top pvt Life Insurance company in 2007.CIO and Head of IT, Business Process Reengineering and International Allianz Projects Reporting to CEOAs a CIO, set up the IT operations for Greenfield Life Office covering multiple business channels ( Banca , Agency with 200,000 agents and brokers), 1000 branches Pan India , GWP of US$ 2 Billion in five yrs. Recognized as employee of the year 2002 & 2003. Fastest growing and top pvt Life Insurer -. Bajaj Allianz Life Insurance Co. India (2001-07) Set up the IT operations for Greenfield Life Office to scale to cover multiple business channels ( Banca , Agency with 200,000 agents , and alternate channel), 1000 branches Pan India with a GWP of 10,000 crs in five yrs. Built the best-in-class information infrastructure for the startup company with lowest IT Expense ratio within Allianz Group. Rated amongst “INDIA’S 20 MOST WIRED COMPANIES” by Business Today in April 2007. Enhanced Allianz’s Core Insurance Framework (GIOS) to cover Unit Linked products. Replicated this system in Malaysia, Japan and Russia. Applied Allianz OPEX to optimize business processes and improve efficiencies. Gained OPEX Black Belt Certification Set up the Best “AGENT’s PORTAL” for 150,00 agents including on-line training. Awarded “ CIO AWARD 2006” as an Extended Manager”. Set up captive BPO with imaging & workflow solution to create Central Processing Hub for Insurance operations. Recognized as “Employee of the Year” for 2001 & 2002.
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Head - Insurance VerticalLiberty Mutual Insurance Co Us (Through Dsq Software) Dec 2000 - Jul 2001- Set up 200 seat ODC for Liberty Mutual and transitioned 6 P&C application to offshore maintenance.- Supported acquisition of Wasaua Insurance by integrating IT systems- Launched New Software Product initiative for Brokers in the Indian Market along with DSQ World on ASP model.
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Divisional ManagerLic / Sunlife United Kingdom Apr 1998 - Dec 2000Carried out platform migration of the core policy management system at Life insurance Corporation, UK operations along with Y2K compliance. Gained exposure to the UK Regulatory environment.
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Divisional Manager, Asst Div Manager,Ao,AaoLic Of India Apr 1984 - Mar 1998- Joined LIC as Directly Recruited officer and trained in Life Insurance- Built 3 versions of LIC's Core Policy Afministration System- Set up India's largest Metro Area Network
J B Bhaskar Education Details
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Lic Officers Training CeterLife Insurance -
National Institute Of Technology KurukshetraInstrumentation
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Kurukshetra UniversityPhysiucs
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Delhi UniversityChemistry
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Ramjas CollegeChemistry
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DteaHigher Secondary
Frequently Asked Questions about J B Bhaskar
What company does J B Bhaskar work for?
J B Bhaskar works for Insurance Technology
What is J B Bhaskar's role at the current company?
J B Bhaskar's current role is Enterprise Architect at InsureTech.
What is J B Bhaskar's email address?
J B Bhaskar's email address is jb****@****ail.com
What schools did J B Bhaskar attend?
J B Bhaskar attended Lic Officers Training Ceter, National Institute Of Technology Kurukshetra, Kurukshetra University, Delhi University, Ramjas College, Dtea.
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