PolicyBazaar, has elevated cofounder and chief financial officer (CFO) Alok Bansal to executive vice chairman and has invested further in its insurance broking arm, it said in a stock exchange filing.
Bansal will step down as CFO on May 2 and will be succeeded by Mandeep Mehta, former executive vice president of finance at Max Life Insurance. Manoj Sharma, another cofounder of PolicyBazaar who was earlier the director of finance, has been elevated to deputy chief financial officer as of April 26.
Bansal will now lead inorganic growth and investment opportunities for the PolicyBazaar group while managing its investor relations.
The company also informed the exchanges that Sharat Dhall, chief operating officer of its direct insurance broking arm, Policybazaar Insurance Brokers, has resigned from the company and that Kheadup Dorji Bhutia is being elevated to chief sales officer.