InsuranceDekho is currently in an exciting phase of growth: Divya Mohan

With a rich background spanning critical roles in diverse conglomerates and startups like Mahindra & Mahindra, Jubilant FoodWorks Ltd., and VLCC Healthcare Ltd., Divya Mohan brings a wealth of expertise to her current position. Since joining InsuranceDekho in August 2023, she has been instrumental in shaping HR processes to support the company's rapid growth trajectory.

In an exclusive interview with Adgully, Divya Mohan, Chief Human Resources Officer (CHRO), InsuranceDekho, shares insights into her experiences and strategies in the dynamic insurance industry, the company’s approach talent acquisition and development, emphasis on collaborative decision-making, and much more...

You started your journey with InsuranceDekho in August 2023. How is the experience, specifically of working in the insurance industry?

Being in the insurance sector at this time is a defining moment for many, and I am no different. The industry is poised to grow like never before and with that comes a host of opportunities to build and problem-solve. At InsuranceDekho (ID), we say we don’t just sell policies, but we sell trust – which has become a defining factor in our business. Trust is not only a business foundation, but also a guiding principle in all HR practices. The synchronisation between business and people practices sets us apart, creating a workplace where transparency and trust are foundational.

Being a complex and regulated industry, the insurance sector comes with exciting challenges and opportunities. Moreover, InsuranceDekho is currently in an exciting phase of growth, making it imperative for us to address human resources issues comprehensively – from talent acquisition to preparing our workforce for future needs. Our focus on a tech-enabled employee experience underscores the importance of staying ahead in HR practices, implementing solutions, and ensuring set seamless integration for sustained growth.

Having worked in critical roles across diversified conglomerates and startups like Mahindra & Mahindra, Jubilant FoodWorks, VLCC Healthcare, etc., what changes have you inculcated in the HR process of InsuranceDekho? How have your previous roles prepared you for the challenges of being the CHRO at InsuranceDekho?

My diverse professional journey across conglomerates and startups has been instrumental in shaping my approach as the chief human resources officer (CHRO) at InsuranceDekho. Being industry-agnostic, I have tailored HR processes to meet the unique demands of each sector. Having primarily focused on recruitment, learning, and development in HR, direct management practice has been a differentiating factor in my career trajectory. What makes this experience more substantial and challenging is the diverse set of problems presented by different businesses. The nature of these challenges is intricately tied to macro- and micro-environments, including the specific sector in which the business operates.

Throughout my career, I have had the opportunity to work across multiple sectors, encouraging agility and enabling me to adapt my overall experience to the unique needs and challenges of each industry.

InsuranceDekho is currently in a pivotal position to scale up its business. In my role as CHRO, I am tasked with bringing stability to HR practices, infusing technology for efficiency, and enhancing our employer brand. Moreover, with InsuranceDekho preparing for extensive expansion, the role demands a forward-thinking approach. We are poised for growth, both organically and strategically, and my responsibility extends beyond immediate HR needs to fuel the talent demands for our future endeavours.

InsuranceDekho is a total online platform. How different is it working here as compared to Jubilant FoodWorks, or VLCC?

The most notable difference lies in the business model. InsuranceDekho operates in both B2B and B2C, with a predominant focus on being an agency-led business. This is distinct from my previous roles which were primarily B2C. The online nature of InsuranceDekho adds another layer of differentiation. In the highly regulated environment of InsuranceDekho, employees, including those onboarding agents and those working in the call center, are tasked with comprehending technical products such as insurance. There is a huge demand for a heightened level of intellect and technical expertise to grasp complex processes and then simplify them for agent partners and customers. I have experienced a similar trend where the requirement for a sophisticated understanding of the insurance industry and technical acumen is a consistent feature in the other organizations I have worked with.

InsuranceDekho is undergoing a period of rapid growth as the company is expecting to grow to Rs 6,000 crore over the next year, as shared by Ankit Agrawal, Co-Founder and CEO of InsuranceDekho. Being the CHRO, how would you approach talent acquisition and development to ensure the organisation has the right people in place to support this expansion?

Our strategy revolves around competency-based evaluations, transparent communication, internal talent development, and strategic external hiring.

Firstly, we emphasise on competency-based evaluations during the recruitment process. This involves assessing candidates based on their technical expertise, sales skills, and, most importantly, their alignment with our cultural tenets. We understand that cultural fit is crucial for long-term commitment and engagement, so we have implemented extensive training programs for our interviewers. Transparency is the basis of our hiring process. We believe in a two-way assessment where candidates evaluate if our company is the right fit for them, just as we assess their suitability for our organization. Given our commitment to trust, we provide clear insights into the responsibilities and expectations, making sure we attract individuals who genuinely identify with our mission. Internal talent development is a key priority, facilitated by a talent framework that supports vertical and horizontal growth.

Our goal is to nurture a culture where employees view their career progression within the company as a long-term commitment. Furthermore, we recognize the need for strategic external hiring, especially for critical roles essential to our expansion.

As we aim to grow exponentially, we understand the importance of having the right talent at every level. We are actively training our internal employees to take on bigger roles, aligning with our priority of nurturing talent from within. Simultaneously, for roles where internal talent may be insufficient, we engage in market mapping to identify external candidates who possess the necessary skills and experience. Our talent acquisition and development strategy is designed to not only meet current needs but also to future-proof InsuranceDekho against the challenges of rapid growth. We want to build a team that not only excels professionally but also aligns with our values.

Given the dynamic nature of the insurance sector, how do you plan to address the unique HR challenges, such as talent retention and skill development, within the industry?

Addressing talent retention and skill development in the dynamic insurance sector involves a multi-faceted strategy. We are one of the few companies that offer comprehensive training programs to equip employees with industry-specific skills. We must emphasize cultural fit during recruitment to ensure alignment with the company’s values.

InsuranceDekho prioritizes a meticulous onboarding approach, investing in each team member's understanding of industry intricacies and company products. Talent retention goes beyond monetary incentives, encompassing a commitment to a supportive and collaborative work environment. Our strategy involves continuous learning, mentorship programs, and a focus on individual growth. Besides, transparent communication about industry challenges fosters mutual understanding. Internal talent development is prioritized, with a talent framework supporting growth from within. Market mapping for critical roles ensures readiness for strategic external talent acquisition. This holistic approach aims to navigate the unique challenges of talent retention and skill development within the insurance industry.

In what ways do you see technology playing a role in HR practices at InsuranceDekho, especially in areas like talent management, employee engagement, and performance evaluation?

Technology plays a significant role in shaping HR practices at InsuranceDekho, with a particular focus on talent management, employee engagement, and performance evaluation. Our investment in a learning management system (LMS) is a testament to our commitment to creating a seamless learning experience. This LMS enables employees to access diverse learning resources, including online certifications, fostering continuous learning from multiple sources beyond traditional classroom settings. This all-encompassing framework aligns with our tech-centric approach to talent development.

InsuranceDekho values innovation and agility. How would you incorporate these principles into HR strategies to adapt to changes in the industry and market conditions?

At InsuranceDekho, where innovation and agility are paramount, codifying the culture no longer remains a fuzzy term. We have codified our culture through a framework we named IMPACT: inclusive, meritocratic, prudent and frugal, action-oriented, customer centric and trust & transparency. This framework becomes the foundation for talent acquisition, learning and development, and feedback processes. By clearly defining our culture tenets, we ensure that our organizational culture is not a vague concept but a tangible and actionable set of principles. This provides clarity for existing employees and serves as a benchmark for evaluating the cultural fit of new hires, ensuring alignment with the dynamic and innovative ethos of InsuranceDekho.

What is your approach to change management, especially when implementing new HR policies or procedures? How do you ensure smooth transitions and gain employee buy-in during such changes?

Our approach to change management, particularly when introducing new HR policies or procedures, centers around effective communication and collaboration to build trust and transparency within the organization. We believe that collaborative decision-making is crucial for gaining buy-in from our stakeholders, ensuring that every significant change is thoroughly understood and supported. We adopt a staggered implementation plan, allowing for ample communication and providing avenues for employees to voice concerns. Trust and transparency remain paramount; employees need to comprehend the reasons behind organizational changes and understand how these changes will benefit them. Addressing the "what's in it for me" question is essential, reinforcing the importance of clear communication and promoting a culture of openness.

Could you provide an example from your past experience where you successfully handled a challenging HR issue or implemented a strategic HR initiative that had a positive impact on the organization?

In my past experience, I successfully navigated a challenging HR situation and implemented a strategic initiative during a period of hyper-growth. In a startup environment, creating a lean structure was pivotal. I focused on organization design, identifying the immediate talent needs, and implementing bench planning to prepare for future talent requirements. Motivating and retaining talent in a fiercely competitive landscape was a key aspect of this effort. Dealing with companies in hyper-growth, where HR structures needed simultaneous building and scaling, posed a significant challenge. I have successfully managed this dynamic growth while ensuring effective HR practices contributed to the positive impact on the organization's overall performance.