Usha Sangwan

Some Lesser Known Facts About Usha Sangwan

• Usha Sangwan is an Indian business executive who is well-known as the first woman to lead Life Insurance Corporation of India from the front.

• She joined LIC as Direct Recruit Officer in 1981 and served the Corporation for over 37 years.

• She lives by the mantra: ^[3]Magzter
  

  Have the courage to change things you can, serenity to accept what you cannot, and wisdom to know the difference.”

• In her early career, Ms Sangwan held the positions of Managing Director at Life Insurance Corporation of India, Member-Governing Council at National Insurance Academy, Education Director at The Insurance Institute of India, and Chairman at LIC HFL Care Homes Ltd.

• Usha has Board level experience of almost 30 years, and she has been on multiple boards simultaneously. She sits as the Director on the Board of Bombay Stock Exchange (BSE), Axis Bank Ltd., Ambuja Cements, General Insurance Corporation of India, LIC Singapore, LIC Nepal, LIC Sri Lanka, and Grasim Industries.

• She has also been the Independent Director at Trident Group India, Torrent Power, and Godrej Housing Finance Part-time since 2021. ^[4]LinkedIn – Usha

• In December 2013, Sangwan was appointed the Managing Director of Life Insurance Corporation of India (LIC). She became the first female to hold the position in LIC.

• During her five years as the LIC’s leading lady, the Corporation touched record premium collections, witnessed several customer relationship initiatives, and adopted new technologies. ^[5]Business Today

• Ms Sangwan has worked in almost all core areas of Life Insurance including Marketing, Direct Marketing, Personnel, Housing Finance, Group Business, Investment, CRM, Corporate Planning, Information Technology, Regulatory Compliance, Actuarial, International Operations and Corporate Communications. ^[6]LinkedIn – Usha

• Her expertise lies in analytics, people skill, customer centricity, strategy, execution, and use of technology.

• Usha was instrumental in turning around LIC Housing Finance Limited. She introduced Hub and Spoke model, risk-based pricing for retail loans and rating systems for projects and developers, and delinked marketing and risk appraisal system for better corporate governance. She was also responsible for introducing direct marketing in LIC. ^[7]LinkedIn – Usha

• Sangwan led LIC to leverage social media, and now the Corporation has gained a fanbase of over 65.82 lakhs on its official Facebook page, as of 2021. Regarding this, Usha said in an interview, ^[8]BSE India ^[9]Business Today
  

  There is no choice in today’s world. You have to listen to tech-savvy customers on these platforms and address their issues.”

• Apart from this, Sangwan also institutionalized many corporate communication activities like College Campus and Rozgar Melas, LIC Student of the Year, and Mobile Van. Her other new initiatives in marketing include Super-30, a mobile application for LIC Customers and agents, and an SMS-based helpline for customers. She also took LIC Housing Finance Limited to the international market and raised Rs. 1,853 million through global depository receipts. ^[10]LIC HFL

• After a career spanning almost four decades, Usha Sangwan announced her retirement from the post of LIC India’s MD on 30 September 2018. ^[11]Moneycontrol