IndiaFirst Life
Prasad Rao is an accomplished procurement specialist with over 18 years of experience in strategic sourcing and procurement strategies. Currently serving as Associate Vice President & Lead - Procurement at IndiaFirst Life since May 2023, Prasad has a proven track record in leading the end-to-end P2P cycle and implementing innovative techniques for cost optimization. Previous roles include Chief Manager & Lead - Procurement at Aon, Sr Manager - Procurement at Aegon Life, and Associate Manager - Procurement at Bharti AXA Life Insurance. Prasad's expertise encompasses IT contract processes, including RFP drafting, vendor evaluation, and commercial negotiations. Educational background includes a PGDM from SVKM's Narsee Monjee Institute of Management Studies.
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IndiaFirst Life
IndiaFirst Life, the 22nd entrant in the Indian life insurance industry, launched its operations in November 2009. IndiaFirst Life is promoted by two large public-sector banks, Bank of Baroda (65% stake) and Union Bank of India (9% stake). Their footprint and experience offered by these entities continue to fortify the value proposition it offers to all stakeholders. Carmel Point Investments India Private Limited incorporated by Carmel Point Investment Ltd, a body corporate incorporated under the laws of Mauritius and owned by private equity funds managed by Warburg Pincus LLC also holds 26% stake in IndiaFirst Life. Declaring its maiden profits in FY 2014-15, IndiaFirst Life is amongst few Life Insurance companies in India to break-even within five years since inception. IndiaFirst Life’s footprint today, extends to over 1000 cities and towns pan-India, through over 12,000 points of sale. IndiaFirst Life’s competitive advantage is its new-age intuitiveness that delivers value through state-of-the-art digitalisation initiatives across its complete value chain, that stems from the company’s “CustomerFirst” ideology.