Board of Director
Dr. Balla Swamy
Dr. Balla Swamy is a Veterinary Graduate (B.V.Sc) from Andhra Pradesh Agricultural University, Hyderabad and Post-graduate in Business Administration (M.B.A Marketing) from Dr. B.R. Ambedkar Open University, Hyderabad, India. He is also Associate of the Insurance Institute of India and attended various training programmes at national and international levels on Insurance, Reinsurance and Management studies including Corporate Governance
With an experience of two years in Rural India, joined as Direct Recruit Specialist Officer in 1985, The New India Assurance Co Ltd, Mumbai, (Wholly Owned by the Govt. of India) and Largest General Insurance Company with A- Excellent Rating given by A.M. Best Company, U.S.A. rated A-(Excellent – Stable outlook) by AM Best. Indicating that the Company has the highest degree of financial strength to honor its Policyholders obligations.
He worked in various Offices and attained Administrative and Underwriting skills in ranks of Assistant Administrative Officer, Assistant Manager for a period of twelve years in handling major catastrophic losses and Rural Mass Insurance Programmes. He is recognized as Specialist for Agriculture and Rural Insurance business in Andhra Pradesh.
He assumed the marketing activities from 1997 to 2004 as Divisional Manager and Senior Divisional Manager in Andhra Pradesh and serviced Major Divisional Office at Vishalkaptnam. His services were recognized and deputed to Philippines to head the operations of 78 years old Branch Office of The New India Assurance Co Ltd, in Manila. The office grew with two branch offices and two general agencies, resulting in premium growth and profitability out of expansion of reinsurance support from the corporate office and remained as major player in Philippines from the year 2004 to 2007.
In the year 2008, he was elevated to Chief Manager and posted as Head of Reinsurance Department of The New India Assurance Co Ltd, at Head Office, Mumbai up to the year 2010. Subsequently, he was recognized to handle the Health Insurance Department of The New India Assurance Co Ltd, the largest Health Insurer in India. To his credit, successful implementation of Health Insurance Module in centralized web based Insurance Systems and centralized payment of all the claims to the customers and hospitals directly through electronic payment, resulting in the bagging of Award of Best Health Insurer by Outlook Express Magazine. The New India Assurance Co Ltd also instituted the Health Achievers Award in coordination with Times of India to recognize the services of the best doctors, hospitals and innovations in the field of Health Management Services.
He was deputed to Prestige Assurance Plc as its Managing Director in November 2014 subsequent to his elevation to the exalted position of Deputy General Manager in the same year.