MC EXCLUSIVE Acko Life CEO Sandip Goenka steps down

Sandip Goenka, CEO, ACKO Life

Acko Life Insurance managing director and chief executive officer Sandip Goenka has quit, people familiar with the matter have told Moneycontrol. Goenka, who took charge on October 15, 2024, stepped down this month, ending an 11-month tenure at the company.

The reasons for his exit remains unclear and Acko Life is yet to issue a statement. It is also not immediately known who will succeed him in the top role.

"At ACKO, we remain committed to building a strong and agile leadership team aligned with our long-term strategic ambitions. We extend our sincere gratitude to outgoing leaders for their valuable contributions and wish them continued success in their future endeavors. As part of this transition, we are actively bolstering our leadership across key business verticals with seasoned professionals to guide the next phase of ACKO’s growth. This change underscores ACKO’s sustained focus on scaling with purpose, delivering innovative insurance solutions, and creating lasting value for our customers, partners, and stakeholders. ACKO is confident in its current capabilities and remains well-positioned to lead the next wave of transformation in digital insurance. We are executing a deliberate succession plan to ensure continuity and stability during this period of change," the company responded to an email seeking a confirmation on Goenka's exit.

Goenka departure comes at a crucial juncture for Acko Life, which is working to scale its presence in the life insurance space. The company is a part of Acko, the insurtech unicorn that made its mark in the general insurance sector with a digital-first, direct-to-customer approach.

By entering the life insurance market, Acko sought to replicate its success with products aimed at younger, digitally-savvy consumers who prefer seamless online experiences over traditional distribution-led insurance models. (https://www.moneycontrol.com/banking/our-primary-focus-is-to-remain-on-protection-biz-says-acko-life-s-ceo-sandip-goenka-article-12946083.html)

Goenka is a seasoned insurance professional with two decades of experience in life, health, general insurance, reinsurance, and insurance consulting.

Before Acko, he was associated with Exide Life Insurance as the chief financial officer. He was also served in leadership roles at Tata AIA, EY and other companies.