MAM
Vivek Sharma steps down as MD, Panasonic Life Solutions India
MUMBAI: Panasonic Life Solutions India announced that Vivek Sharma, the company’s managing director, will step down from the operational leadership on 30 September 2020.
Sharma with his commitment to excellence and inimitable leadership style, has led Panasonic Life Solutions India (PLSIND) to great success. Under his leadership the Company has had a tremendous growth journey over the last 3 years. PLSIND’s revenue grew from Rs 22.9 billion in 2016-17 to approximately Rs 33.9 bn in 2019-20. Similarly, the operating profit more than doubled from Rs 2.65 billion in 2016-17 to Rs 5.8 billion in 2019-20. The Company’s sales grew at a CAGR of 15 per cent and operating profits at a CAGR of 22 per cent, during this period. This helped PLSIND emerge as the fastest growing Indian Fast Moving Electrical Goods (FMEG) company, both in terms of sales and profitability. A reflection of this stellar performance was when, earlier this year, Forbes magazine rated Anchor as the No. 1 FMEG brand in the country.
It was during Sharma’s tenure that the company took a certain far-reaching and path breaking initiatives, like moving from a dealer driven channel to a multi-channel, distributor led GTM strategy that also included a strong participation in alternate channels like E-com, MFR, Exclusive Brand Outlets, etc. This was preceded not only by the setting up of separate sales teams for B2C and B2B/B2G segments, but also introducing exclusive business verticals for the Power, Lighting and Indoor Air Quality businesses.
During this period significant expansions of the company also took shape on the industrial and SCM side, including setting up of manufacturing units through an expansion of the vendor base across India, in addition to the mega project coming up at a 35-acre land parcel in Sri City, Andhra Pradesh. The brand’s presence in markets across the country was also strengthened with a robust retail strategy, straddling over 500, Tiers 1-5 markets in India.
Having realized the critical importance of brand equity in the twenty-first-century business, Sharma decided to invest in brand building. Partnering with cutting-edge advertising, media and digital Agencies, during his tenure, the marketing team led the development of a new communication platform for Brand Anchor ‘Naye India Ke Badhte Load Ke Liye’. To connect with the contemporary and aspirational Indian consumers the campaigns that have been undertaken for the last two years have led to the brand be re-evaluated by the trade and the consumer. These initiatives will help the brand sustain the momentum in the years to come.
With an outstanding career spanning over 35 years, Mr. Sharma is considered an industry expert. He has honed his iconic skills at speedily ramping up operations and nurturing them into sustainable, profitable and strong businesses. Mr. Sharma is an effective coach, trainer and public speaker having made his presence felt, through lectures and presentations, at various prominent educational institutions and industry platforms.
Panasonic Life Solutions India MD Vivek Sharma said, “These last 3 years have been a journey of immense satisfaction. It is a befitting way to end a career spanning over three and a half decades. I have had the privilege of working in the FMEG/FMCD industry for more than 35 years and leading Panasonic Life Solutions India has been the highlight of my career. It has been a pleasure partnering all the stakeholders both internal and external to re-invent the Company and set it on a higher growth trajectory by focusing on the employees and the consumers while enhancing skills and competencies across the stakeholder spectrum. We have had very significant achievements, with regard to our factory operations in India. Our manufacturing has traditionally been manpower intensive, however during the last three years, we have put in a lot of efforts and investments and have technologically upgraded it, with state-of-the-art robotics and automation solutions. These technological upgradations have given us a competitive edge, with the highest cost efficiencies, in the entire ECM industry”.
“A strong and vibrant culture is the best legacy of a successful leader. I am particularly proud that during my tenure at PLSIND we transformed from being a conventional electrical switches Company to becoming a part of an iconic transnational organisation. Most importantly, during this exciting journey, our existing internal talent culturally transformed itself to adapt to contemporary best practices which are the hallmark of a performance-based culture that we have established. This transformation of the team changed the way we do business, from the historical individual-oriented method of the past to a process-oriented technology-driven way of doing business, with complete autonomy and empowerment. I can proudly say that as I depart from PLSIND, it is poised to achieve far greater success and scale newer highs in the years to come”.
When you plan to buy medical insurance for your family, the first question is often about savings. You may assume that buying online automatically means paying less, but that is only part of the picture. The real issue is not just whether the premium looks lower, but whether the policy gives you suitable family health insurance without adding avoidable costs later.
Buying online can sometimes appear more budget-friendly because you can compare plans, review features, and complete the process without depending entirely on offline assistance.
Still, a lower visible price does not always mean better value. To understand whether you can truly save more, you need to look at the full buying experience and the policy terms together.
Why Online Purchase Can Look More Economical
When you explore family health insurance online, you usually get access to plan details in a more direct and organised way. This can make the buying journey feel simpler and more transparent.
A few reasons online purchases may seem cost-effective include:
● Easier comparison of policy features
● Direct access to premium details
● The ability to review inclusions and exclusions at your own pace
● Fewer chances of making a rushed decision
● More control over the plan selection process
This does not mean every online option is automatically cheaper. It simply means the online route may help you assess choices more carefully, and that itself can influence how much value you get from the policy you choose.
Saving Money is Not Only About a Lower Premium
A lower premium often catches your attention first, but that should not be the only measure of savings. If you buy medical insurance based only on what looks affordable at the start, you may overlook conditions that matter later.
A family health insurance policy should be judged on overall value, including:
● The scope of cover
● Waiting period terms
● Exclusions
● Room eligibility conditions
● Sub-limits, if any
● Claim-related terms
● Renewal conditions
If the premium is lower but the policy has stricter internal conditions, the apparent saving may not feel meaningful when you actually need hospitalisation support.
So, the better question is not only whether online purchase costs less, but whether it helps you select a plan that remains financially sensible over time.
Comparing Plans Online Can Prevent Overspending
One clear advantage of the online route is that it allows you to compare different options without pressure. This can help you avoid paying for features you may not need or missing features that matter for your family.
Before you buy medical insurance online, look closely at:
● Who can be covered under the plan
● How the sum insured works for the family
● Whether day care procedures are included
● How pre-existing illness rules are explained
● Whether add-ons are optional or built in
● How clearly the policy wording is presented
This level of comparison can support better decision-making. In many cases, savings come not only from the premium itself but from choosing a policy with fewer surprises.
Online Discounts Should be Viewed Carefully
Online discounts can make a plan look attractive, but they should always be read alongside the policy details. A discount may reduce the upfront cost, yet the true worth of the policy depends on what it covers and how it responds during a claim.
When reviewing discounted online plans, check whether the policy has:
● Treatment-specific limits
● Room rent restrictions
● Co-payment clauses
● Disease-wise waiting periods
● Claim deductions linked to the hospital category
● Limited cover for selected benefits
These points are important because a policy that looks cheaper at purchase may involve more out-of-pocket spending later. That is why discount-led buying should be replaced with detail-led buying.
Final Thoughts
Yes, buying online can sometimes help you save more when choosing family health insurance, but only if you look beyond the headline price. The online route may give you better visibility, easier comparison, and more time to review the policy terms.
That can support smarter choices and may reduce the chances of paying for a plan that does not suit your family well.
If you want to buy medical insurance online, treat savings as more than a discount. The real advantage lies in choosing family health insurance that balances affordability, clarity, and meaningful coverage for your household.
