The International Insurance Society (IIS) has named Vishakha RM, MD and CEO of IndiaFirst Life Insurance, the Vanguard Market Development Award 2024 honoree. Vishakha will be formally honored at an awards ceremony on Nov. 17, 2024, at the Hyatt Regency Miami. The awards ceremony kicks off the Global Insurance Forum, running from Nov. 17-19.

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Vishakha RM, MD and CEO, IndiaFirst Life Insurance, is the Vanguard Market Development Award 2024 honoree from the International Insurance Society. (Photo: Business Wire)

The Vanguard Market Development Award recognizes leaders who have made exceptional strides in advancing the development of insurance in an underserved market or emerging economy. Recipients are recognized for their innovative approaches, leadership, and commitment to driving positive change. Nominees for the Vanguard Market Development Award are submitted by insurance executives and evaluated for selection by the IIS Executive Council, a body of senior insurance executives representing all sectors of the industry across a broad range of markets.

Vishakha RM is a seasoned leader in the insurance industry with a proven track record of driving strategic growth and innovation. With over three decades of experience, she has consistently demonstrated a results-oriented approach, particularly in challenging conditions such as start-ups, restructuring, and reorganization. Notably, her tenure as MD and CEO at IndiaFirst Life saw significant strides in bancassurance, where she pioneered innovative models that accessed customers at their preferred point of sale.

Vishakha's strategic acumen and commitment to achieving a balance between functional and company objectives have earned her widespread acclaim. Her accomplishments include the establishment of the retail bancassurance model and the development of robust Group Insurance business frameworks.

In addition to the Vanguard Market Development Award, Vishakha has been honored with the Individual Achievement Award by ASSOCHAM and the CA Business Leader - Woman Award by the Institute of Chartered Accountants of India. She has also been recognized as one of the "Most Powerful Women in Business" by esteemed publications such as Fortune, Forbes, and Business Today.

Beyond her corporate achievements, Vishakha has emerged as a thought leader within the BFSI (banking, financial service, science, insurance) fraternity, sharing insights and philosophies aimed at inspiring the next generation of leaders. Her contributions have garnered widespread acclaim from both the public and social media spheres.

She has been the co-chair of the Confederation of Indian Industry (CII) National Committee on Insurance and Pension for close to 5 years, contributing to the development of the industry.

“This recognition underscores Vishakha's unwavering dedication to driving positive change and innovation in the insurance sector, cementing her position as a visionary leader and a catalyst for growth,” says Josh Landau, President of the International Insurance Society. “Her dedication, innovation, and commitment to excellence converge to pave the way for transformative change in the insurance sector, inspiring growth and opportunity.”

About International Insurance Society: IIS is a diverse and inclusive platform for all stakeholders of the global insurance and risk management community, providing knowledge, research, thought leadership and connectivity to support the betterment of society. Founded in 1965, IIS is a global not-for-profit organization that serves as a neutral platform for active collaboration and examination of issues that shape the future of the insurance industry. IIS is an affiliate of The Institutes.

About The Institutes: The Institutes are a global not-for-profit comprised of diverse affiliates that educate, elevate, and connect people in the essential disciplines of risk management and insurance. Through products and services offered by The Institutes’ nearly 20 affiliated business units, people and organizations are empowered to help those in need with a focus on understanding, predicting, and preventing losses to create a more resilient world.

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Vishakha RM, MD & CEO, @IndiaFirst_Life, & 2024 #VanguardAward honoree, is a seasoned leader in the #insurance industry with a proven track record of driving strategic growth and innovation."