Visionary Leaders Awards 2023 CEO OF THE YEAR – Rohan Malhotra

We delved into the transformative power of generative AI and vehicular data in improving auto insurance and road safety with the recipient of this year’s CEO of the Year award, Rohan Malhotra – the CEO and co-founder of the leading insurance technology company Roadzen.

Spotlight Desk

Updated on: 12 September 2023 4:12 pm

Rohan Malhotra

How does it feel to receive this prestigious award?
As I often say, the real reward is not in the recognition, but in the work itself – the satisfaction of making something truly innovative that can change the world. It isn't an endpoint but a reminder that we must continually do the work, push boundaries, and stay foolish in our pursuit of revolutionizing the massive insurance industry. While I am honored, I see this as a symbol of what we've accomplished as a team and what we can further achieve together.

How would you use being the recipient of this award to influence others and how would it impact your organization?
We look forward to fostering partnerships, attracting talent, enabling innovation, and expanding customer base in technologies that enhance road safety, improve driving experience, and contribute to sustainable mobility solutions.
The award not only bolsters Roadzen’s position as a leader in the field of insurance technology, but serves as a symbol of our organization's accomplishments, inspiring others to join us in our mission of delivering a transparent, efficient, and safer mobility experience for millions of customers worldwide.

What is the mission of your company?
Our mission is to transform global insurance for mobility. It goes beyond just insuring vehicles. It's about empowering drivers, fostering safer roads, and ultimately, transforming the way drivers experience auto insurance. Our work in AI represents that next frontier for auto insurance. It's not just about automating claims or adjusting premiums - it's about completely reimagining the relationship between insurers and insured.

We believe in harnessing the power of technology not just to predict and respond to incidents, but to prevent them from happening in the first place. We are moving away from a one-size-fits-all model, to create truly personalized policies that reflect each driver's unique behaviors and risks. We can use machine learning to anticipate and mitigate risks before they even occur, to keep our customers safer on the roads. And if there is a claim, we can process it within minutes rather than weeks over a video rather than physically, all using computer vision and telematics.

How long has your company been in business?
Roadzen was founded in 2015, and in this short span of time it has grown to be a global team of 400 employees across offices in the US, India, UK and France, which service thousands of clients, from some of the world’s leading insurers, fleets and carmakers to small fleets, brokers and insurance agents, who use our technology to build new products, sell insurance, process claims and improve road safety.
Companies like Axa, Allianz, Tata, and Audi use Roadzen to provide a better auto insurance experience to drivers on the road. Roadzen has recently announced that the company will be going public on the NASDAQ in 2023.

What was the competitive strategy that helped you bag this award?
Our competitive strategy lies in offering a comprehensive platform and a vertically integrated AI stack that covers the entire insurance value chain. It delivers a strategic advantage to insurers, OEMs, and technology partners, equipping them with capabilities to launch products and services faster to their end customers.
Our focus on global growth and collaboration has allowed us to expand our reach and establish partnerships in key insurance markets worldwide. This achievement has been supported by the confidence and trust of leading global investors who recognize Roadzen's vision and support us to further our goals.
Our globally diverse teams of visionary engineers, researchers, data scientists, and insurance and mobility specialists are developing cutting-edge solutions that address complex challenges in the insurance and mobility sectors. We encourage innovation and growth by emphasizing organizational structure and employee empowerment, making our culture uniquely geared towards success.
Thanks to our pioneering technology solutions, strategic partnerships, and strong leadership, we've enjoyed significant growth, boasting an impressive 60x growth in revenues in just 3 years. Through the collective efforts of our global leadership, teams, partners, and investors, we have been able to transform insurance for mobility.

What sets you apart from your competitors in the context of your products and/or services?
Roadzen sets itself apart from competitors through its unique two-fold business-to-business-to-consumer (B2B2C) business model and strategic partnerships. This model encompasses both insurance brokerage and technology, which positions Roadzen for defined growth and success.
Our insurance brokerage licenses in 14 countries enable us to distribute our products and generate commission-based revenue as an insurance broker. By focusing on embedded insurance and distribution for automotive OEMs and fleets, Roadzen has tapped into specific market segments and established itself as a trusted partner for insurance solutions.
Moreover, Roadzen's partnerships with global insurers and carmakers have been instrumental in solidifying our position as a leading insurance technology company. These partnerships provide Roadzen with access to a vast network and expertise, enabling us to offer comprehensive and innovative solutions to our clients.
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