HDFC Life Insurance Company has announced the appointment of Mr. Vineet Arora as an Additional Whole-time Director, designated as Executive Director and Chief Business Officer, effective May 1, 2025. His appointment is for a term of three years and is subject to the approval of shareholders and the Insurance Regulatory and Development Authority of India (IRDAI).
The decision was made at the Board of Directors meeting held on April 17, 2025, following the recommendation of the Nomination and Remuneration Committee. The company stated that Mr. Arora’s appointment will further strengthen strategic oversight and ensure alignment with HDFC Life’s long-term vision.
Mr. Arora joined HDFC Life in November 2022 as Chief Operating Officer, where he led initiatives focused on enhancing customer experience and operational transformation, including the launch of Project Inspire aimed at building a future-ready tech and data stack. He also oversaw several applications of AI and Generative AI to improve efficiency and service quality.
In August 2024, he was elevated to Chief Business Officer and successfully steered the company through significant regulatory changes while maintaining key performance metrics like Embedded Value and Margins.
With over 29 years of experience across sectors such as FMCG, banking, wealth management, and insurance, Mr. Arora has previously held leadership roles at Paytm Payment Bank, Paytm General Insurance, Aegon Life Insurance, ICICI Securities, ICICI Prudential, Godrej, and Marico. He holds a PG degree in Finance and Marketing from Xavier Institute of Management, Bhubaneswar, and a Mechanical Engineering degree from Delhi College of Engineering.
The company also confirmed that Mr. Arora is not related to any of the current Board members.
