Y-Combinator backed Bimaplan appoints Yogesh Gupta as chief business officer

Y-Combinator backed insurtech startup Bimaplan has brought on board Yogesh Gupta as its chief business officer.
Bimaplan had earlier strengthened its core leadership team with the hiring of Chandan Mittal as chief technology officer and Gaurav Jindal as chief operating officer, as part of its recent pre-series A funding earlier this year.

Gupta has joined the firm from Bajaj Allianz Life Insurance, where he was executive vice-president and chief financial inclusion officer. He played a pivotal role in developing the entire third-party distribution channel and strategic alliances at the company, and was instrumental in building the microinsurance vertical. Over the last decade, he led the financial inclusion drive at Bajaj Allianz, working with more than 100 MFIs and NBFCs, insuring more than 40 million lives and generating premium revenue of over Rs. 1,500 crore annually.

“The insurance penetration in India is low, and there is massive scope to educate our masses and offer the right solutions for life, general, and health insurance. Bimaplan has ventured into the insurance industry with a vision to help millions of underserved Indians have easy access to relevant and affordable solutions for their insurance needs, and I am excited to be a part of this noble mission,” said Gupta.

At Bimaplan, he will build upon his work over the last decade in the microinsurance segment and scale it with the help of technology to reach millions of underserved households in India. His product knowledge, operational expertise, and industry relationships will help Bimaplan strengthen its product line-up, and tap new consumers specially from tier-II and tier-III cities, providing them with a range of customised insurance products covering their specific needs.

“Yogesh brings in a unique combination of product understanding and customer need, and exceptional execution capabilities to drive large-scale implementation with partners. This coupled with our proprietary technology platform will be a game-changer in increasing the penetration of micro-insurance in India and help millions of families have a better future,” Vikul Goyal, founder and CEO at Bimaplan, said.