(Credit: PARIMA) 

Introduction of Profile:  

Pranati K, currently an Associate Vice President at Mphasis, began her career as a Deputy Manager of Underwriting at Bajaj Allianz General Insurance. From initially aspiring to join the military to entering an industry she knew little about, she shares how a chance encounter led to a fulfilling journey in insurance — one that has now spanned over two decades. 

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For Pranati K, a career in risk management was never part of her plan. In fact, her aspirations once lay far from the corporate world — on the frontlines of the Indian Army. 

“I was very inclined to serve in the defence,” she explains. “I applied for the Women Short Service Commission, cleared all the levels — written tests, physical examinations, group discussions — but I didn’t make it to the final list. That’s when I started looking for alternative paths.” 

(Credit: Pranati)  

At the time, insurance was an industry she barely understood. However, a conversation with her father introduced her to a role in the insurance industry.  

What began as a temporary detour soon became a long-term pursuit. Over the next nine years, Pranati gained exposure to various lines of insurance, from third-party motor claims to engineering, property, and techno-marketing.  

A Defining Moment  

Despite the accidental start, there came a moment when Pranati recognised the significance of her chosen path. 

“I realised insurance is not just a job — it’s a career,” she reflects. “The industry was evolving. There were joint ventures between global reinsurers and Indian corporates, and suddenly, insurance became something much more strategic.” 

Driven by this realisation, she pursued professional certifications through the Insurance Institute of India, earning her Licentiate, Associate, and Fellowship levels within four years.  

A Transition to the Buy Side 

After nearly a decade in underwriting, she started exploring liability insurance — an emerging line in the Indian market — and faced challenges due to the limited industry guidance at the time. 

“There were no structured learning paths, so most of the knowledge came through hands-on experience,” she explains.  

This curiosity eventually led her to Mphasis, where an opportunity to lead the company’s insurance function opened the door to a new chapter — as a risk manager on the buy side. 

“I had always been on the selling side, advising clients. But I started to see gaps — many corporates didn’t fully understand how to structure their insurance. That’s when I felt that the buyer side also needs experienced professionals.” 

At Mphasis, Pranati took on the responsibility of managing the entire risk transfer strategy of the organisation. Her remit includes assessing risks, designing insurance programmes, reviewing coverage structures, and ensuring alignment with the company’s broader risk appetite.  

While progressing in her role, Pranati also sought to deepen her expertise through professional certifications. She completed the Management Liability Insurance Specialist (MLIS) programme from the International Risk Management Institute (IRMI), as well as a certification from the Institute of Risk Management (IRM), UK.  

“Learning has always been a continuous focus for me,” she shares. “I’m currently exploring the intersection of risk and artificial intelligence through a specialised programme at a premier institute.” 

Credit: Pranati)  

Looking ahead  

Even though Pranati has already spent over 20 years associated with the insurance industry, she constantly sees the industry as still evolving.  

“India is only just gaining momentum when it comes to risk management. Many companies are still building dedicated functions. There is so much room to grow.” 

Her long-term aspiration is to lead enterprise-wise risk strategies at a senior leadership level.  

“Right now, my focus is on risk transfer. But in the future, I want to be involved in risk avoidance, mitigation, and strategic planning at an organisational level.” 

Advice to the Next Generation 

“This is the right time. Insurance is a sunrise industry in India, and the risks around us are only growing. This profession keeps you curious, keeps you challenged, and constantly evolves with the world.” 

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