Shri B. C. Patnaik has taken over charge as Director of the National Insurance Academy with effect from 26^th December’2024.

Prior to this he was Member (Life) - IRDAI. Along with the Dept of Life, he was also in charge of Department of Health, Legal and Customer Grievances including Communication wing. He also represented IRDAI in meetings of the National Health Authority and Organisation for Economic Cooperation and Development (OECD).

As a whole-time member of IRDAI, he contributed well for the ease of doing business wherein the number of regulations were reduced.  He also contributed to many customer centric initiatives in all forms of insurance.

He was also the Managing Director of LIC of India. He was in charge of Department of Personnel, Investment Monitoring, HRD, Bancassurance, New Business Underwriting & Reinsurance, and Inspection.  He played an important role in the success of LIC’s IPO.

As MD, he was on the boards of LIC Nepal, LIC credit cards, and LIC Mutual Fund Trustee Company, where he chaired the Trustee Board.

He also represented LIC on the boards of National Stock Exchange and Indiabulls Housing Company. During his tenure in NSE, he played an important role in supporting the formation of NSE IFSC International Exchange.  The initiatives for the transition of Indiabulls Housing to an NBFC were taken during his tenure.

He was also the Secretary General of Council for Insurance Ombudsman and the digital initiatives were established under his leadership leading to speedy settlements and cost effective transactions for all concerned.

In his operational roles in LIC, he has great first-hand experience of customer needs, marketing of Insurance products and effective customer service. He believes in a faster digitised service and has played an important role in many of the digital initiatives of LIC. He has been passionate about customer service all throughout his career.  He knows India well during his postings in Maharashtra, Gujarat, Uttar Pradesh, West Bengal, Odisha and Jharkhand.  His operational jurisdictions also included Assam, Uttarakhand, Tripura, Nagaland, Manipur and Mizoram, Arunachal Pradesh and Andaman & Nicobar.

He is always passionate about development of the human capacity in the insurance industry and believes that along with adoption of technology and awareness, the noble objective of IRDAI- Insurance for All by 2047-can be realised faster by effective human intervention.

As always, he stands committed to his assignment and believes that to be a Viksit Bharat, the role of Insurance, for all individuals, for all businesses and for all manufacturing industries should be a natural process and all support should be there in the ecosystem- most importantly- qualified, trained and motivated insurance professionals.