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Puneet Gupta
Puneet Gupta is embarking on a fresh career challenge as legal head at Niva Bupa Health Insurance after leaving Axis Max Life Insurance (formerly known as Max Life Insurance).
“Having worked across nearly all functional areas within a legal department [at Axis Max Life], stepping into a legal head position felt like a natural progression,” Gupta told India Business Law Journal.
Gupta said that while his work was “constructive and fulfilling” at Axis Max Life, “the opportunity with Niva Bupa Health Insurance came at an ideal time and aligned perfectly with my career aspirations to lead, contribute and shape legal strategy on a larger scale.
“What also excites me is the opportunity to work with Bupa, an established global health insurance leader.”
Gupta has more than 15 years of experience in litigation — both as a practising advocate and as in-house counsel across the general insurance and real estate sectors. At Axis Max Life, he worked with HR and investment advisory, setting up new business channels, raising market debt through non-convertible debentures, IPR, automation and digitisation of contract workflows, marketing, and corporate advisory.
On his new role, Gupta is enthusiastic, saying his “vision is both structured and aspirational — starting with establishing a solid foundation and evolving towards building a best-in-class legal function”.
Gupta hopes to bring “innovation and excellence, augmenting the use of technology and enhancing strategic alliances” to help achieve business goals. He believes in training future leaders within the legal team.
He said he faced challenges in the “shift from life to health insurance which involves a change in business dynamics”, as well as adapting to a different work culture and “customer-intensive litigation environment”.
“Life insurance deals with long-term policies, whereas health insurance is comparatively short-term, with a higher frequency of claims and renewals. Understanding and adapting to this business model will be a key area of focus,” Gupta added.
“Health insurance, by its nature, faces a higher volume of litigation, often around claims and service-related issues, demanding a more immediate and empathetic legal strategy.”
Gupta told IBLJ, “The Indian insurance industry, post-liberalisation, is stepping into a new era — one marked by progressive statutory reforms, regulatory vision and digital transformation.
“Among the most impactful developments is the approval of 100% FDI in insurance. This move by offering greater autonomy in business decisions to global players is sure to attract global giants to tap the under-penetrated Indian market.”
He added that, “another transformational change on the horizon is the composite licensing regime, which once implemented will allow insurers to operate across multiple lines of business.
“This will eliminate existing silos, enabling companies to offer integrated, one-stop insurance solutions to customers — a significant step towards enhancing customer convenience and satisfaction.”
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