Women to Watch 2024: Ruchika Varma, Future Generali India Insurance Company

Ruchika Varma

Chief marketing, customer and impact officer
Future Generali India Insurance
India

As the chief marketing, customer and impact officer at Future Generali India Insurance (FGII), Ruchika Varma’s campaigns and products helped the company achieve top-10 industry status with a CAGR of 23% and a Net Promoter Score of 66.4, the highest in the sector. 

Since joining FGII in 2020, Varma’s efforts have been pivotal in establishing FGII as a trailblazer in inclusive insurance. She has a rare knack for transforming insights into impact by spotting market gaps through insight mining and customer engagement. 

Varma’s brainchild, ‘Health PowHER’, is a comprehensive health insurance plan tailored for women. At the same time, her LGBTQ-inclusive #RedefiningFamily campaign boldly reshaped the scope of family coverage in India to cover all family members regardless of gender and sexuality. The latter campaign set a new benchmark in insurance and generated over 10,000 leads within three months. Varma’s creativity also shines through innovative campaigns such as #DontBeAPlus1, which encourages women to take charge of their insurance, and #MakeYourChoice, a digital-first initiative utilising AI to personalise customer engagement and kickstart new conversations about women’s financial independence. 

A proactive champion for women’s leadership, Varma mentors the leaders of tomorrow in ‘She Leads,’ a six-week mentoring FGII program for over 150 women employees. She was also instrumental in establishing a robust DEI ecosystem, with a strong governance structure and employee resource groups alongside a firm bedrock of policies, programmes, and training interventions for women, LGBTQ, and specially abled employees. 

It’s no wonder that FGII has achieved a five-time Great Place to Work certification with her at the helm, achieving an increase of 22% in women employees since 2022 and attrition levels of 25% below the industry average. Varma’s commitment to inclusivity and innovation makes the future of insurance a hopeful one.