Edelweiss Tokio Life Insurance Appoints Nilesh Parmar as Chief Operating Officer

MUMBAI, November 28, 2013 /PRNewswire/ --

Edelweiss Tokio Life Insurance Company Limited, the new-age private life insurance company, has appointed Nilesh Parmar as the company's Chief Operating Officer (COO) in-charge of Operations and Technology. Nilesh brings with him close to two decades of experience in handling operations, systems and processes for large scale set-ups that can be leveraged by Edelweiss Tokio Life Insurance, which is currently in a transition phase from start-up to scale-up.

Speaking on the appointment, Deepak Mittal, Chief Executive Officer, Edelweiss Tokio Life Insurance said, "With his expertise and experience, we believe that his appointment is a significant addition to our leadership capability; we hope that together we will be able to create bigger success stories. Nilesh's guidance will enable us to enhance our services and leverage our focus on customer centricity. We are sure that our clients too will benefit immensely from his expertise."

Commenting on his new role, Nilesh exclaimed, "I am indeed proud to be associated with the Edelweiss Group. The life insurance industry is currently going through a challenging phase and being a new entrant in the industry, Edelweiss Tokio Life Insurance is best placed to put in place robust systems and processes that will enhance customer service and experience."

Nilesh holds an expertise of over 20 years in re-engineering, quality improvement of processes, service delivery and change management in the banking domain. Prior to joining Edelweiss Tokio Life Insurance, he worked with HSBC for 18 years in various roles in operations and change management. He was Head of Operations from 2005-2009. Apart from running day-to-day Operations, he was also spearheading Business Transformation projects with a team of Six Sigma master black belts. During his tenure, his team won the 'Best of the Best' Operations team (across 19 countries) two times in a row. In his last role at HSBC, Nilesh was Senior Vice President, Change Delivery, Service Delivery where he was responsible for driving strategic initiatives for Operations, globally.

Nilesh is a graduate from IIT Mumbai and a post-graduate from IIM Ahmedabad.

About Edelweiss Tokio Life Insurance

Edelweiss Tokio Life, a life insurance company, is a joint venture between Edelweiss Capital, one of India's leading diversified financial services companies, and Tokio Marine Holdings Inc., a global leader with over 130 years of experience in the insurance business. This lineage brings together Edelweiss Group's deep understanding of the Indian customers and Tokio Life's international benchmarks. Edelweiss Tokio Life Insurance is registered with a paid up capital of Rs 550 crore. The company's approach is to help its customers meet their life-stage financial goals by providing them innovative insurance products that have been designed with the needs of the Indian customers in mind.

To learn more about Edelweiss Tokio Life Insurance, please visit www.edelweisstokio.in

Primary Media Contact: Revathi Pandit, [email protected], 91-22-4063 5433

Secondary Media Contact: Liena Thakur, [email protected], 91-22-4086 3774