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Aviva introduces SME assist tool
MUMBAI: Aviva Life Insurance announced the launch of Aviva SME Assist, a first-of-its-kind digital tool for business owners. Further strengthening the company’s digital portfolio, Aviva aims to educate business owners about the importance of good financial planning to secure not just their business, but also their family.
Aviva SME Assist involves a simple three-step process that provides business owners with a comprehensive online report within 10 minutes that showcases their risk profile, evaluates their financial needs while also providing recommendations on the best-suited solutions for their financial requirement depending on their current financial planning.
Commenting on the launch customer, marketing, digital & IT officer Anjali Malhotra said, “The MSMEs sector contributes as much as 40 per cent to Gross Domestic Product (GDP) of India. The lower penetration of insurance in the sector creates the need to offer a customized and transparent solution to cater to the needs of the SMEs. Business Owners wear 3 different hats: apart from being the Owner of the business, they are an Employer and also Head of the family. Each of these roles require specialized solutions to help them protect their business as well as ensure a secured future for their family. We are delighted to launch Aviva SME Assist, a customised tool that helps them assess the financial planning gaps in just a few minutes”.
Because a business owner has primarily three roles to play as an individual, they need different insurance solutions for different financial needs, which can include business expansion and protection, employee retention through gratuity and other solutions, keyman cover, and loan protection. Additionally, these individuals also need a solution to secure their child, health, and prepare a savings plans for their family, including those covered under MWPA Act.
With this digital business tool, Aviva provides a one-stop solution to the Next Gen Business Owners. It performs a complete need assessment of the modern business owner through 3 simple steps, and gives them an instant customised Financial Needs Report that is emailed directly to them. It helps business owners understand their financial gaps, thus equipping them with the much needed information to help them secure their key assets. The specially curated tool helps them access to tailor-made solutions and propositions to meet their unique and diverse needs with regard to their vulnerability to different risk aspects.
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YES Bank appoints S Anantharaman as chief risk officer
Former Jio Financial Services group chief risk officer takes charge of enterprise-wide risk at the embattled private lender
MUMBAI: YES Bank is not taking chances with risk anymore. The private lender has appointed S Anantharaman as its chief risk officer, a hire that signals the bank’s continued effort to rebuild credibility and tighten the controls that once famously slipped.
Anantharaman arrives from Jio Financial Services, where he served as group chief risk officer and built a risk management architecture spanning lending, payments, insurance broking and asset management from the ground up. Before that, he held the chief risk officer role at Bank of Baroda and senior leadership positions at HDFC Bank and L&T Finance Holdings. Three decades in banking and financial services, in other words, with scars and qualifications to match. He is a chartered accountant and a CFA charterholder.
At YES Bank, his brief is considerable. Anantharaman will oversee the bank’s entire enterprise-wide risk framework, covering credit policy, market risk, operational risk, information security, data governance, analytics, model governance and data privacy. It is, in short, every lever that matters when a bank is trying to prove it has grown up.
YES Bank’s turbulent past needs little rehearsing. What it needs now is exactly what Anantharaman has spent thirty years building: the kind of risk culture that stops problems before they become headlines. The appointment suggests the bank knows it.
