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Tag: McKinsey & Company

  • WPP hires Mariel Maciá as senior director of strategic design for Open unit

    WPP hires Mariel Maciá as senior director of strategic design for Open unit

    MUMBAI: WPP has appointed Mariel Maciá as senior director of strategic design within its WPP Open team, strengthening the agency group’s push to blend human creativity with artificial intelligence in marketing and brand experience.

    Maciá joins after more than five years at McKinsey & Company, where she served as senior service design manager in Berlin. Before that, she held design leadership roles at Die Krieger des Lichts and the innogy Innovation Hub, and earlier worked in film acquisition, production and festival programming across Europe and Latin America.

    Trained in audiovisual narrative in Buenos Aires, Maciá has built a career spanning media, design and digital transformation. At WPP, she will focus on reimagining how design thinking and emerging technologies can unlock new opportunities in advertising, media and customer experience.

    “The journey ahead is incredibly exciting,” she said, adding that she looks forward to collaborating with “the brilliant minds across WPP.”

  • Anuja Trivedi named chief strategy and marketing officer as Shemaroo eyes next phase

    Anuja Trivedi named chief strategy and marketing officer as Shemaroo eyes next phase

    MUMBAI: Shemaroo Entertainment has expanded the remit of Anuja Trivedi, elevating her to chief strategy and marketing officer (CSMO). In addition to leading marketing, she will now head the central strategy team, cementing the company’s sharper focus on long-term growth, integrated brand positioning and closer consumer alignment.

    Since joining as chief marketing officer in 2023, Trivedi has driven brand growth and boosted visibility for Shemaroo’s TV, OTT and digital platforms. In her expanded role, she will spearhead strategic initiatives and work with cross-functional leaders to unlock synergies across the group’s diverse business verticals.

    She brings broad experience spanning strategy, revenue and content, with stints at Disney Star, World Gold Council (WGC), McKinsey & Company, Morgan Stanley and PwC. At Disney Star, she shaped content strategy for TV and digital, driving Disney+ Hotstar subscriptions and improving TV market share in key genres.

    “Anuja’s role expansion comes at a time when we are sharpening our strategic priorities to stay ahead in an evolving media and entertainment ecosystem,” said chief executive of Shemaroo, Hiren Gada. “Her deep understanding of consumer behavior, market dynamics, and business transformation will be instrumental as we move into our next phase of growth.”

    Chief operating officer of Shemaroo, Arghya Chakravarty added, “Over the last two years, Anuja has been instrumental in shaping Shemaroo’s brand story. Her expanded role reflects our belief in her ability to bridge strategy with execution, drive cross-functional alignment, and keep the consumer at the center of all decisions.”

    With Trivedi’s new mandate, the brand is amplifying its bet on strategy-led brand building and future-ready planning as it caters to the changing tastes of Indian and global audiences.

  • IBAI report pegs India’s insurance boom at Rs 25 lakh crore by 2030

    IBAI report pegs India’s insurance boom at Rs 25 lakh crore by 2030

    MUMBAI: The Insurance Brokers Association of India (IBAI) kicked off its silver jubilee year with a bold vision and bolder numbers. At its 24th Foundation Day celebration in Mumbai, the association unveiled its flagship report – ‘Leading the Path to Insurance for All: Broker of the Future’ – developed in collaboration with knowledge partner McKinsey & Company. The report, launched by Shri C.P. Radhakrishnan, Governor of Maharashtra, paints a bullish picture: India’s insurance sector could more than double from Rs 11 lakh crore in 2024 to Rs 25 lakh crore by 2030.

    Marking the occasion, Mr. M Nagaraju, IAS, secretary, Department of Financial Services, urged brokers to move beyond metros and into Bharat – Tier 2, Tier 3 towns, SMEs, and agri sectors. “IBAI must partner with public institutions and state governments to ensure truly democratic access to insurance,” he said.

    The McKinsey report doesn’t pull punches. India’s 91 per cent protection gap is among the highest globally. Just 1 in 2 Indians has life insurance; 2 in 5 have health cover. Strip away government schemes, and that number drops to 1 in 4. Rural India contributes 45 per cent of GDP, yet only 2 per cent of insurance branches exist in these areas.

    Retail and SME segments are projected to be the twin engines of growth. The retail market alone could swell to Rs 21 lakh crore, driven by mass-market demand. On the institutional side, non-life premiums could nearly triple to Rs 2.8 lakh crore, largely fuelled by health and property insurance.

    Speaking at the event, M Nagaraju, IAS, Secretary, DFS, MoF said, “I congratulate IBAI on embarking on its silver jubilee year and commend its efforts through initiatives like the Brokers Voice survey, I Broker Magazine, and the Claims Handbook. As India moves towards the goal of ‘Insurance for All by 2047’, the role of insurance brokers becomes increasingly vital. IBAI has emerged not just as a trade body but as a responsible stakeholder and thought leader in the insurance value chain. I urge brokers across the country to actively contribute to this national mission—especially in Tier 2 and Tier 3 cities, among small businesses, and in the agriculture sector. IBAI must work closely with the government and public institutions to build awareness, simplify products, and enhance capacity, ensuring truly democratic access to insurance. I also encourage brokers to actively participate in state-level insurance programs.”

    Insurance Brokers Association of India president Narendra Bharindwal said, “India’s insurance sector is entering a new era of opportunity, with the potential to more than double by 2030. The growth, however, needs to be secured by fast focus on bridging the massive 91% protection gap that exists in the country. At this moment, brokers have a strategic inflection point. Moving away from merely intermediaries, brokers are becoming trusted advisors that will translate awareness into action and build trust in underserved markets. Regulations permitting, with access to growth capital and investments in digital capabilities, brokers would be able to scale, drive inclusion, and form the bedrock of India’s journey toward ‘Insurance for All’ by 2047. This empowerment must begin now.”

    McKinsey & Company senior partner Peeyush Dalmia said, “The Indian insurance industry is at an inflection point. Despite significant growth in premiums, the sector continues to face challenges such as a protection gap and low coverage. Transforming Indian insurance requires innovation and collaboration from all stakeholders, including insurers, brokers, industry bodies, and regulators. Brokers are situated at the intersection of demand and supply, could potentially lead the journey towards the aspiration of ‘Insurance for All by 2047’.”

    The report, based on surveys of 2,500 retail customers and 100 institutional clients, uncovered a startling insight: while awareness is rising, intent to buy remains low. Among affluent individuals and HNIs, 60 per cent believe their life insurance should be 10× their salary, but only 30 per cent actually have that cover. Trust is key as 70 per cent of HNIs rely on advisors, while mass-market consumers trust friends and family.

    On claims, the story is grimmer. Half of HNIs and over 55 per cent of SMEs report dissatisfaction with claims handling, citing delays, paperwork, and poor support.

    India has 735 licensed insurance brokers, but the top 36 control 85 per cent of revenues. Capital access is limited. Regulatory support and digital investment, the report suggests, could transform brokers into true financial allies — especially in mass and SME markets.

    The study outlines four strategic interventions to become the Broker of the Future:

    ●    Drive demand through segment-specific, omnichannel engagement

    ●    Unlock access in underinsured markets

    ●    Partner on product innovation

    ●    Create transparent, hassle-free claims and after-sales experiences

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  • Myntra CEO Ananth Narayanan quits

    Myntra CEO Ananth Narayanan quits

    MUMBAI: Myntra’s chief executive officer (CEO) Ananth Narayanan has resigned and Flipkart executive Amar Nagaram will head Myntra, according to a report by Livemint.

    Before joining Myntra, Narayanan has worked with Marico Ltd as a board member for 17 months and prior to that he was with McKinsey & Co for almost 15 years across four offices (Chicago, Shanghai, Taipei and Chennai). As a director in the organisation he was responsible for leading the product development practice in Asia and worked with several companies on strategy, operations and organisational models.

    Ananth has a vast experience and knowledge from years in consultancy and managing operations to mentor start-ups. He also has deep expertise in driving performance improvement and product development.

    Key Myntra leaders such as chief revenue officer Mithun Sundar, who took charge in April, and human resources head Manpreet Ratia, who also oversaw operations, supply chain and customer experience at Myntra, have also resigned, according to reports.

    While Myntra has been growing fast, Jabong has struggled. Myntra bought Jabong in July 2016 from Rocket Internet for $70 million mainly to avoid a rival buying it. It is still unclear whether Flipkart will choose to keep the Jabong brand and platform alive. While Jabong will continue to operate for now, Flipkart may shutter the platform after a few months.

    Key leaders such as former strategy head Ananya Tripathi and former Jabong head Gunjan Soni have resigned from Myntra. The list is expected to grow over the coming weeks.

  • Facebook declares Internet.org innovation challenge

    Facebook declares Internet.org innovation challenge

    NEW DELHI: Facebook has declared the Internet.org innovation challenge in India today. The objective of the campaign is to make internet more accessible and relevant to four sections of the population that are currently underserved in India: women, students, farmers and migrant workers.
     
    These communities face maximum structural barriers when it comes to using the internet. McKinsey & Company’s recent study affirmed that the lack of relevant local and multilingual online content and services is one of the primary barriers to internet adoption. Even if they get connected online, the material they find turns out to be insignificant. Internet.org’s initiative will give people access to apps, websites and services that are relevant to their lives and readable in their own languages.
     
    Facebook will be presenting four $ 250,000 innovation challenge award prizes: one to the leading app, website or service or idea that best meets the needs of each of the designated population categories. Two $25,000 impact award prizes will also be granted in each category.
     
    Winners will be announced at Mobile World Congress in March 2015 and interested individuals, organisations and groups can submit applications through 31 January 2015.
     
    Companies, governments and individuals need to work together to remove connectivity barriers. This will ensure everyone has access to the internet globally.