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MUMBAI: Mahindra Manulife Life Insurance has appointed Ruchika Malhan Varma as chief marketing and customer officer (CMCO), as the 50:50 joint venture between Mahindra Group and Manulife looks to build an AI-driven and customer-centric life insurance business in India.
Varma will oversee brand and marketing communications, corporate communications, digital and growth marketing, customer and digital experience, partnerships, DEI, sustainability and AI enablement.
She brings more than 25 years of experience across financial services, media, entertainment, travel and consumer businesses in India and Asia, with expertise spanning brand building, digital transformation, customer experience and business-led marketing.
Prior to joining Mahindra Manulife, Varma was chief marketing, customer and impact officer at Generali Central Insurance. She led brand and marketing communications, digital marketing, corporate communications, product strategy and innovation, customer experience, digital acquisition, web sales and telesales, along with CSR, DEI and sustainability.
Earlier, she served as chief marketing officer at IDFC FIRST Bank, where she played a key role in building the IDFC Bank and IDFC FIRST Bank brands. Her career also includes leadership roles at BBC Worldwide, Lonely Planet, Singapore Tourism Board, VIP Luggage and Electrolux.
Mahindra Manulife Life Insurance managing director and chief executive officer Suresh Agarwal said Varma’s experience across brand, customer, technology and business would support the company’s ambition to become an AI-first, consumer-driven insurer. Her mandate will include creating simpler customer experiences and relevant protection solutions.
Varma said AI, data and deeper consumer understanding are reshaping how customers discover, buy and experience insurance. At Mahindra Manulife, she will focus on combining technology with human insight to make insurance more relevant, intuitive and accessible.
The joint venture aims to offer long-term savings and protection solutions for India’s diverse customer base, supporting the country’s Insurance for All vision by 2047. It will combine Mahindra’s distribution reach across rural and semi-urban markets with Manulife’s agency, product development and underwriting capabilities.
