Head of Insurance

About Balancehero

Balancehero India Pvt. Ltd. (BHI) is the wholly owned subsidiary of Balancehero Co. Ltd., Korea, which operates the mobile app True Balance a one-stop destination for financial services.

Founded by Charlie Lee in Korea in 2014, Balancehero began operations in India in 2016 as a balance check application and has since evolved into a comprehensive financial services provider. Today, we are building a platform for the next billion, offering solutions across loans, utility services, pay-later, and commerce services.

About True credit

BHI's wholly owned subsidiary, True Credits Private Limited, is a licensed NBFC committed to bridging India's financial gap by making credit accessible to all.

About True Balance

True Balance, owned and operated by the BalanceHero Group, is an RBI-authorized Prepaid Payment Instrument (PPI) issuing entity. Through its subsidiary True Credits Private Limited (RBI-licensed NBFC) and other RBI-approved partners, it offers a range of financial services including instant loans, utility bill payments, and mobile recharges.

Launched in 2016, True Balance has grown into one of India's leading financial services platforms with US$84 million in equity funding from global investors such as Softbank, Naver, and Line. The company's mission is to become the go-to financial platform for the next billion Indians by driving financial inclusion for the unbanked and underbanked.

Website: www.truebalance.io

Job Title: Head Insurance

We are looking for a seasoned leader to build, scale, and own our Insurance vertical from the ground up. This role carries full P&L responsibility and will shape the insurance strategy for a large, digitally engaged customer base in a fast-growing fintech ecosystem.

Key Responsibilities

1. P&L Ownership

• Full accountability for revenue, margins, cost structures, and unit economics of the insurance business.
• Drive sustainable growth while maintaining profitability and operational efficiency.

2. Strategic Roadmapping

• Define the product strategy across Life, Health, General, and Credit-linked insurance.
• Evaluate and execute the right model Buy vs. Build vs. Partner.
• Create a scalable roadmap aligned with our fintech ecosystem and lending customer base.

3. Regulatory & Compliance Leadership

• Lead licensing processes (Corporate Agency / Brokerage model as applicable).
• Ensure 100% compliance with IRDAI regulations and evolving regulatory frameworks.
• Build governance structures to support a compliant and scalable insurance business.

4. Partnership & Carrier Management

• Negotiate and manage deep integrations with leading insurance carriers.
• Drive API-led partnerships to launch exclusive, sachet-sized products tailored to our demographic.
• Build long-term strategic alliances for differentiated offerings.

5. Data Monetization & Embedded Insurance

• Collaborate with data and product teams to leverage lending and payments data for:
• Pre-approved underwriting models
• Personalized cross-sell and upsell campaigns
• Contextual and embedded insurance offerings
• Build intelligent nudge-based marketing strategies to maximize attach rates.

6. Team Building & Execution

• Recruit, mentor, and scale a cross-functional team spanning Product, Operations, Claims, and Partnerships.
• Establish operational excellence frameworks for policy issuance, servicing, and claims management.
• Drive a high-performance, ownership-driven culture.

Required Experience

Experience

• 10+ years in BFSI, with at least 45 years in a leadership role within a leading InsurTech or digital-first insurer.

Proven Track Record

• Demonstrated experience in scaling a digital insurance business from 0 to significant GMV.
• Experience owning or co-owning P&L with measurable growth outcomes.

Domain Expertise

• Deep understanding of the Insurance Value Chain.
• Strong knowledge of digital distribution models including POSP, Embedded Insurance, and Direct-to-Consumer.

Technical & Strategic Capability

• Comfortable working with API-led integrations and automated claims workflows.
• Strong commercial acumen combined with regulatory understanding.
• Ability to operate at both strategic and execution levels in a fast-paced environment.