Rutvik Panchal
Purpose-driven strategy professional with a track record of driving retention through product innovation, analytics and stakeholder management. Delivered ₹900Mn+ in measurable business impact at ICICI Lombard by designing and executing data-backed initiatives , strengthening business governance, deepening channel partnerships and accelerating digital adoption across motor insurance verticals.
Work Experience:
5.5 Years
Industry:
BFSI | Technology
Function:
Consulting & Strategy | Data Science & Analytics | Project & Program Management
ICICI Lombard (Largest private general insurance company in India) l Mumbai
Senior Manager, Central Strategy Team
- Growth & Retention Strategy : Expanded the proprietary CRM and online policy booking platform towards CEO-Club Agents and Broker channels, generating ~₹70Mn in incremental annual revenue. Collaborated with BCG to identify high potential channel partners and redesign customer engagement journeys, improving portfolio retention by 5% and delivering ~₹220Mn in incremental revenue.
- Control Strategy: Designed governance frameworks to improve portfolio control across channels by introducing retention guidelines to reduce inter-vertical customer leakage, minimized MD-level escalations and strengthened control over channel retention. Responsible for Board and MD communications for the department.
- Stakeholder Management : Partnered with Business Heads, NSM, Finance, Underwriting, Audit, Product and key technology vendors to align product investments, annual budgeting and strategic initiatives. Served as the departmental SPOC for financial planning and vendor negotiations, delivering ~₹50Mn in annual cost savings while enabling enterprise-wide execution of retention programs.
- People & Performance : Designed KPI frameworks aligning 80+ consultants with organizational strategy and mentored a team of 38 consultants, strengthening execution discipline, analytical capability and performance culture across the department.
- Program and Product Management : Owned the business roadmap for the proprietary CRM platform, translating market insights into AI-powered executive dashboards, vernacular CRM capabilities, mobile applications, automated data integration and AI-driven customer engagement solutions, accelerating product adoption while reducing customer churn.
- Process Excellence : Redesigned product rollout governance to reduce activation timelines from 3 months to 2 weeks, while introducing standardized launch and monitoring mechanisms that improved operational visibility and reduced portfolio COA by 0.5%.
Senior Consultant and Analyst, Central Strategy Team
- Strategic Initiatives: Identified emerging online growth opportunities, automated retention journeys and optimized customer engagement through targeted interventions, collectively generating ₹98Mn+ in incremental annual business while strengthening digital adoption and retention performance.
- Program Management: Led strategic initiatives across Product, Finance, Business Intelligence and OEM partners including TVS, Royal Enfield and Hero, delivering digital transformation programs spanning online payments, pricing engine optimization and customer engagement.
- Process Excellence: Redesigned consultant operating models through a Hub-and-Spoke framework, improving the consultant-to-client ratio from 28 to 45, reducing manpower costs by 19%, and streamlining customer journeys to reduce call-to-click time from 30 to 10 minutes, driving ₹180Mn in annual incremental collections.
- Knowledge Analyst: Leveraged customer behaviour, claims data and e-funnel analytics to identify high-conversion cohorts, redesign lead prioritization and optimize communication strategies, reducing targeted leads by 30%, saving ₹4Mn in operational costs while improving marketing efficiency.
Consultant and Analyst
- Business Consulting: Partnered with dealership principals to improve customer retention through CRM analytics, implemented incentive mechanisms that increased regional retention by 6% and generated approximately ₹21.6Mn in incremental revenue.
- Analytics: Developed SQL-based analytical models and automated dashboards to streamline reporting, reducing manual effort by 15% while enabling faster, data-driven decision-making across client portfolios.
- Initiatives: Analysed vehicle service schedules to identify insurance renewal opportunities, designing targeted cross-selling interventions that improved rollover business by 2% and generated approximately ₹7.2Mn in incremental revenue.
- Client Management: Managed the P&L of 40+ dealership partners across four regions and successfully onboarded all clients to the online policy booking platform within a month during COVID, ensuring uninterrupted business operations and sustaining approximately ₹8Mn in collections.
- Highflier Certificate - 2025 , One of the top performer across 14,000 employees at ICICI Lombard.
- Highflier Certificate - 2024, One of the top performer across 14,000 employees at ICICI Lombard.
- B. Tech(Mechanical Engineering), Nirma University, Ahmedabad
- Minor in Finance , Nirma University, Ahmedabad
- Advanced Business Analytics, University of Colorado Boulder.
- Statistics for Business Analytics and Data Sciences.
- Lean Six Sigma Yellow Belt, Gerald India.
- Essential of Peoples Management, Ahmedabad Management Association.
- Diploma in Purchase and Supply Chain Management, Ahmedabad Management Association.
- Sales Excellence, Ahmedabad Management Association.
- Drumming, Trinity Certified, Grade 3
- Karate Brown Belt Practitioner
- Himalayas Summiteer - Roopkund Peak, 16000 Ft