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Raise Financial Hires Ex-Upstox Exec Abhishek Singh To Helm New Insurtech Bet

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Raise Financial Hires Ex-Upstox Exec Abhishek Singh To Helm New Insurtech Bet

Fintech unicorn Raise Financial Services has roped in former Upstox executive Abhishek Singh as the chief executive officer (CEO) of its new insurtech vertical Pluto Insurance.

Singh confirmed the development in a post on LinkedIn. His bio on the networking platform also reflected the new designation. 

“Twenty-three years in this industry, and I am as excited as I was on day one. Happy to announce that I am joining Pluto Insurance… I’ve spent most of my career wanting to build things that solve real problems for real people, not just move numbers on a board. Pluto Insurance gives me that shot, at scale, in a category that badly needs it,” said Singh.

In his post, Singh added that Pluto plans to build a platform for “what the customer actually needs, backed by cutting edge tech and AI”.

An alumnus of ICFAI Business School, Singh counts more than two decades of experience under his belt. He previously served at companies like Aviva India, PNB Metlife and Edelweiss Tokio Life Insurance. He was last working as a senior director at Upstox, according to his LinkedIn profile. 

While the website of the new platform is yet to go live, it is already inviting users to join its waitlist. As per its website, Pluto Insurance will be housed under GreenLife Insurance Broking Pvt Ltd (GIBL), and bears the same IRDAI registration number and licence code as GIBL. 

The appointment comes three months after Raise Financial acquired GIBL in an undisclosed cash-and-stock deal. At the time, the fintech unicorn had said that it would invest $15 Mn in GIBL to build a direct consumer insurance distribution platform.


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