1 Finance appoints Manju Dhake as Vice President – Insurance, for setting up insurance advisory and strategy planning for business excellence
Mumbai (Maharashtra) [India], July 8: Mumbai-based 1 Finance, a reimagined personal finance institution, announces the appointment of Manju Dhake as Vice President – Insurance, who is responsible for setting up the insurance advisory practice and strategic planning of the organisation for business excellence. Manju Dhake has a vast experience of 21 years of working with insurance companies, in both manufacturing and distribution. At 1 Finance, Manju Dhake is in charge of translating the conventional or traditional insurance industry practices into new-age solutions which will be customised based on the need based approach model of customers by creating and managing digital platforms. Her role is critical for managing insurance product integrations with internal and external stakeholders with the aim to ultimately lead to optimal customised offerings for the customer. She will be part of the 1 Finance lab’s core team which is working on setting new and transparent metrics in the insurance industry to enable individuals in the assessments of every available insurance product in the country, in one place.
Manju Dhake has attained a Fellowship in Insurance (FIII) from the Insurance Institute of India, ICWA from the Institute of Cost Accountants of India, and Post Graduate in Commerce from the University of Mumbai. She has worked with companies such as 5nance.com, ICICI Prudential Life, HDFC Life, Sushil Insurance Brokers, and L&T Finance where she has experience in the formulation of business strategies, liaising with the regulators and insurance partners, thereby contributing to the growth of the insurance businesses.
Keval Bhanushali, Co-founder & Chief Executive Officer, 1 Finance stated, “Insurance is the most mis-sold product in India. In an internal research conducted by 1 Finance, we found that at least 80% of MNIs in India who were sold insurance products later discovered that many important facts and information were either hidden or wrongly explained to them. We are on a mission to stop mis-selling in financial services in India. Taking the biggest problem first is our DNA. We are confident that Manju will be able to drive this change through 1 Finance labs. Customers need to be protected from mis-selling that can exacerbate their overall financial situation.”
Manju Dhake, Vice President – Insurance, 1 Finance mentioned, “It is a privilege to be associated with a financial institution that is focused towards the financial health of the customer. This is essential for the financial growth of not only the customer but also their families. I am pleased to become a part of the 1 Finance team, which is on a mission to eliminate the financial stresses of people when it comes to complex financial products. It really takes a deep thought process when you say upfront that you are not here to sell and generate revenues but to create value for customers by reimagining the personal finance space. The overall objective of my role is to create awareness by the right advisory engine, as an enabler for decision making for the customer and build processes to simplify the entire insurance journey for customers thereby contributing towards increasing insurance penetration.”
1 Finance Private Limited is a reimagined personal finance institution that offers qualified, unbiased, and hyper-personalised advisory on one’s personal finances including but not limited to assets, liabilities, income, expenses, and insurance.
The Mumbai-based company is backed and mentored by marquee investor Marwadi Chandarana Group, established in the year 1995 and marking its prominence in the higher education sector with Marwadi University, in retail financial services by Marwadi Financial Services, and with algorithmic, and high-frequency trading with Marwadi Chandarana Intermediaries Brokers Private Limited (MCIBPL).
1 Finance is the first of its kind ecosystem offering financial planning and advisory solutions to the emerging affluent individuals of India.