It is no surprise that in contemporary times, women have been dominating the business sector, with female entrepreneurs and business leaders taking the lead and changing the face of the corporate world. According to research, the insurance sector has actively supported and encouraged women to work in the profession. Women made up 6.15 lakh agents in the insurance business as of March 31, 2020, accounting for 27 percent of the individual agency staff.

One such woman making a name for herself in the insurance sector is Toshita Chauhan. Her journey is a living, breathing example of how hard work and determination can help one achieve unreachable heights. Toshita currently works with Policybazaar.ae, an insurance aggregation, as the Business Head for the General Insurance business. However, her ascent to this position hasn't been an easy one. Hailing from a humble background, the drive to make something great of her life was instilled in her at a very young age.

Holding work experience of more than a decade, Toshita counts being able to help businesses become market leaders in their area of expertise as her most significant achievements.

In an in-depth interview with the Women Entrepreneur Magazine team, Toshita takes us through her professional journey and the various facets of the insurance aggregation industry.

Take Us Through Your Early Years Of Your Educational And Professional Journey. Recount Some Of The Challenging Situation That Had To Face Through This Journey.

Unlike most people, my struggle began quite early. I kick-started my career when I was pursuing UG degree in English Honors from Symbiosis University, Pune. Coming from a financially humble background, I knew I had to build a life by myself, so I took up a full-time job with Fabindia as a sales executive. While my friends were partying after college, I was busy tackling college and a full-time job. In the three years that I worked there, I got promoted twice and soon started working as a merchandiser. This is where I realized my strengths and inclination towards business development, customer, and business relations.

Subsequently I earned a master's degree in Business Management from University of Westminster in London. The university experience was utterly different from the Indian education system as I had to self-sustain in terms of education and personal life. I worked at multiple part-time jobs to pay my bills and education fees alike. When the recession hit in 2008, despite having a two-year post-study visa, I couldn't find a full-time job and ended up coming back to India. Amidst all the chaos and confusion, I got the opportunity to explore an entirely new career path in marketing.

I started working with a 190-year-old jewelry brand called PNG Jewelers in Pune to revamp their brand image. They wanted to recreate the brand's image and expand within Maharashtra. I worked with various agencies and celebrities formulating campaigns and completely restructured their brand image. After working with them for three years, I I felt like I wanted to set my life in a more global environment and started to look for work opportunities outside of India. I interviewed with Gulf news. Even though it felt like a step backward as I was doing well in India, I moved to Dubai starting from scratch in business development and did this for three years.

Tell Us About Your Professional Journey In Dubai Before Coming Onboard Policybazaar.Ae?

Launched in 2018, Policybazaar.ae works precisely in the same manner as Policy Bazar India does, i.e., insurance aggregation. My time with Policybazaar.ae has been short-lived since I came onboard in January this year as the business head for the general insurance business, including travel, motor, and home.

Before this, I was working with a leading newspaper, Gulf News when I moved to Dubai in 2013 and joined their business development department. After working with them for two years, I joined an insure-tech startup called `Yallacompare' again in the business development department, which focused on insurance aggregation and retail banking product comparison. Even though it did not feel like the wisest decision leaving a reputed organization to join a smaller team, it worked out for the best as the company went on to become one of the leading companies to set up insurance aggregation in the UAE region. In four years of working with them, I managed a team of over 80 people, including sales, business development, and insurance company partnerships.

“Academically you might not be the smartest person in the room and that's okay. You don't have to be academically smart in school to be a great leader”

I then moved on to join another startup in the travel sector called Holiday me, but within a year, the pandemic hit, and I was forced to take a break. Post this; I had approached by Policybazaar.ae and finally joined the company returning to the space that I started my career with; insurance aggregation.

Tell Us About The Major Business Challenges That You Encounter As A Leader In The Insurance Aggregation Industry?

The major challenge that we face at Policybazaar.ae is moving the insurance companies and customers both from a traditional way of doing business to a more digital friendly way. Striking a balance between customer and business satisfaction is another challenge. As an aggregator, we deal with numerous insurers and insurance companies together where both parties have different requirements. Fulfilling those demands and keeping both of them happy has been the real challenge.

As A Leader, Are There Any Specific Leadership Mantras Or Philosophies You Follow While Leading The Team?

The most important thing that I follow and believe in is appropriate delegation of roles and responsibilities. One cannot succeed doing everything on their own, so we have a capable team that takes care of various responsibilities. The other important aspect is as a senior manager; you move away from micromanaging. Trust the team and let them do their thing. The only requirement is to align everyone to the goals, values, and vision of the organization.

What Advice Would You Give To Young Women Who Also Aspire To Become Business Leaders Or Entrepreneurs In The Future?

Start young! The most important thing you can learn in life is what you don't like. We always aspire to be many things, but you can never really know where your interests and expertise lie unless you operate in this space. You need to know what you don't want because that will shape your career and future. What really matters is consistency and driving that consistency in your work, results will always follow.

Toshita Chauhan, Business Head- General Insurance, Policybazaar UAE

Toshita counts being able to help businesses become market leaders in their area of expertise as her most significant achievements. Toshita currently works with Policybazaar.ae, an insurance aggregation, as the Business Head for the General Insurance business.