Kamalakar Sai Palavalasa
Kamalakar Sai Palavalasa
Overall Experience – 27 years, Age – 51 years
Kamalakar is a Mechanical Engineering graduate with a Master’s in Business Administration. He started his Engineering career with Hindustan Machine tools but later shifted to the financial services with a stint in Stock Holding Corporation of India Limited.
With the opening of the insurance Industry, Kamalakar joined Birla Sunlife Insurance as a founding member and was one of the founding members of the Alternate Channels which was the pioneer in the Bancassurance business with relationships which included foreign banks, Public sector banks and Private sector banks. With 12 banks it was the largest Bancassurance Distribution network. He later moved to Reliance Life Insurance as a founding member to set up the fully variable agency model (CDA model) and the Third Party distribution network (which included Banks, Brokers, Corporate agents etc). The CDA and TPD model together contributed around 35% of the overall Business.
In his next role as Founding member and Director of Sales & Distribution of IndiaFirst Life Insurance he was responsible for setting up the Business and deliver results based on Business Plans. The focus was on building the business from the 2 public sector promoter banks by engaging and activating the branches and making the staff productive. His major accomplishment was in building a highly profitable business which enabled IndiaFirst to breakeven in 4 years and 6 months.
In the last 6 years, Kamalakar has setup his own consultancy firm Kayfour which works in building distribution networks and takes products to market. He worked as the MD & CEO of Geosansar a company promoted by the Metdist group. Geosansar provided financial services which included banking services, Insurance products, billing, ticketing, recharges and other financial products to the most deserving. As part of Kayfour he has worked with major Insurance companies in building new distribution models. He has also worked as CEO and Principal officer of the Insurance Business at Manappuram between April 2017 and August 2019.
Kamalakar today is working as Director & Principal Officer with InsuranceInbox a fintech Insurance Intermediary and taking Insurance to the masses using technology. He also promoted MicroNsure a micro insurance consulting firm which works with Insurance companies to build products and process for the underserved and unserved. He is also a Director on the boards of Velicham Finance an NBFC supporting micro and small enterprises and Ingenious Education which provided Pre-school education through the canvas brand of schools.
Kamalakar is also the ‘WINNER OF THE 101 TOPMOST INFLUENTIAL BFSI LEADERS IN INDIA FOR 2019’ by ET NOW WORLD BFSI CONGRESS