Jaipur-based insurtech startup, Square Insurance, has announced the appointment of Akash Parwal as its new Chief Executive Officer (CEO) and Co-Founder. Parwal brings nearly two decades of experience in the insurance industry, having held leadership roles at notable institutions such as HSBC Innovation Banking, ICICI Lombard, Tata AIG, and most recently as Vice President at Reliance General Insurance.
With a strong track record of crafting growth-driven strategies and deep industry knowledge, Parwal is expected to play a critical role in shaping the future of Square Insurance. The startup, founded by Rakesh Kumar, offers customized insurance solutions with a strong presence in rural India, bridging gaps between customer needs and available insurance products. Since its inception in 2017, Square Insurance has partnered with over 53 insurers, delivering competitive premiums and personalized coverage.
In August 2024, Square Insurance raised $3 million in a pre-Series A funding round led by Negen Capital and Bizdateup. As the new CEO, Parwal plans to focus on expanding product reach, scaling technology-based solutions, and improving customer accessibility. His leadership is set to reinforce the company’s digital-first strategy, enhance customer convenience, and drive innovation in product offerings.
Commenting on the appointment, Rakesh Kumar said, “We are pleased to welcome Akash as CEO at this critical stage of our growth. His vast experience, innovative mindset, and commitment to excellence make him the ideal leader to guide Square Insurance into its next phase. As Co-Founder, Akash’s collaboration will help refine our strategy and execution, ensuring that we continue setting industry standards while delivering value to our customers.”
Parwal shared his excitement, saying, “I am honored to take on this responsibility at such an exciting time for Square Insurance. As CEO, my goal is to accelerate the company’s growth by leveraging cutting-edge technology, expanding our product portfolio, and enhancing customer engagement. We have a clear roadmap for the future, and I’m confident that with our team’s dedication and the support of our partners, we will achieve significant milestones in the coming years. Together, we will shape Square into a leading force in the industry.”
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