Husband: Narender Sangwan
Age: 63 Years
|Famous For||Being the first female Managing Director of Life Insurance Corporation of India|
|Physical Stats & More|
|Height (approx.)||in centimeters- 161 cm
in meters- 1.61 m
in feet & inches- 5’ 3”
|Career Highlights||• November 2013 – September 2018: Managing Director, LIC
• 2009 – 2013: Executive Director, LIC
• May 2006 – May 2007: Regional Manager (Personnel and Industrial Relation), LIC
• May 2002 – May 2005: General Manager - Marketing and Regional Manager (LIC Housing Finance Limited)
• August 2002 – May 2004: Regional Manager (LIC Housing Finance Limited)
• January 2001 – May 2001: Divisional Manager (Incharge), LIC
• May 1996 – January 2001: Divisional Manager (Personnel and Industrial Relation), LIC
|Awards, Honours, Achievements||2016, 2017, 2018: Announced the "Most Powerful Women in Indian Business" by Business Today
2016: Featured in Business World as "Most Influential Women"
2015 - 2016: Management Woman Achiever of the Year by Bombay Management Association
2015: Featured in Forbes List of 50 Most Powerful Business Women in Asia
2014: Awarded "Women Leadership Role Model" by Top Rankers Management Consultants and "Corporate Leadership Award for 2014" by Colors TV
2013: Awarded Woman Achiever of the Year and "Sarvodaya Stree Sakthi Harmony and Empowerment Award" by Governor of Tamil Nadu
Featured in Femina – Most Powerful Women in India
Featured on the cover page of Bureaucracy Today
"Women Leadership Award" in BFSI sector by Institute of Public Enterprise
"Brand Slam Leadership Award" by CMO Asia
"Women Leadership Role Model" by Top Rankers Management Consultants
"CEO with HR Orientation Award" by Global HR Excellence arranged by Chartered Institute of Management Accountants
Felicitated by Free Press Journal and Doordarshan for "Women in Leadership Role"
|Date of Birth||Year, 1958|
|Age (as of 2021)||63 Years|
|School||• Government Model Middle School, Chandigarh
|College/University||• Indira Gandhi National Open University, Delhi
• Panjab University, Chandigarh
• Indian Institute of Insurance, Mumbai
• Indian Institute of Management, Lucknow
• Asian Institute of Management, Philippines
• Indian School of Business, Mohali, Punjab
• Government College for Girls, Chandigarh
• Management Development Institute, Gurgaon, Haryana
|Educational Qualification(s) LinkedIn - Usha||• Master’s Degree in Economics
• Post Graduate Diploma in Human Resource Management
• Bachelor's (Honors) in Economics
• Licentiate, Insurance
• Course on Leadership, Management
• Human Capital Management, Human Resources Management/Personnel Administration, General
• Marketing Strategies, Marketing/Marketing Management
• Course on Project Appraisal and Financing, and Communication skills for world-class leaders
|Relationships & More|
|Husband/Spouse||Narender Sangwan (Retired Chief Commissioner of Income Tax)
|Parents||Father- Lachman Das Mittal (Founder of Sonalika Group)
Mother- Raj Rani Mittal
|Children||Son- Akshay Sangwan (Director- Development and Commercial
at Sonalika/ITL and Executive Director at Sonalika Industries/ICML)
• Amrit Sagar Mittal (eldest) (Vice Chairman, Sonalika Group)
• Dr. Khush Mittal (Doctor in New York)
• Dr. Deepak Mittal (Managing Director, Sonalika Group)
Sister- Her sister is a former Associate Professor at the Patiala Medical College.
|Salary (approx.)||Rs. 7,50,000 compensation as Non-Executive Director at Axis Bank Ltd (2019) Economic Research Institute|
Some Lesser Known Facts About Usha Sangwan
- Usha Sangwan is an Indian business executive who is well-known as the first woman to lead Life Insurance Corporation of India from the front.
- She joined LIC as Direct Recruit Officer in 1981 and served the Corporation for over 37 years.
- She lives by the mantra: Magzter
Have the courage to change things you can, serenity to accept what you cannot, and wisdom to know the difference.”
- In her early career, Ms Sangwan held the positions of Managing Director at Life Insurance Corporation of India, Member-Governing Council at National Insurance Academy, Education Director at The Insurance Institute of India, and Chairman at LIC HFL Care Homes Ltd.
- Usha has Board level experience of almost 30 years, and she has been on multiple boards simultaneously. She sits as the Director on the Board of Bombay Stock Exchange (BSE), Axis Bank Ltd., Ambuja Cements, General Insurance Corporation of India, LIC Singapore, LIC Nepal, LIC Sri Lanka, and Grasim Industries.
- She has also been the Independent Director at Trident Group India, Torrent Power, and Godrej Housing Finance Part-time since 2021. LinkedIn – Usha
- In December 2013, Sangwan was appointed the Managing Director of Life Insurance Corporation of India (LIC). She became the first female to hold the position in LIC.
- During her five years as the LIC’s leading lady, the Corporation touched record premium collections, witnessed several customer relationship initiatives, and adopted new technologies. Business Today
- Ms Sangwan has worked in almost all core areas of Life Insurance including Marketing, Direct Marketing, Personnel, Housing Finance, Group Business, Investment, CRM, Corporate Planning, Information Technology, Regulatory Compliance, Actuarial, International Operations and Corporate Communications. LinkedIn – Usha
- Her expertise lies in analytics, people skill, customer centricity, strategy, execution, and use of technology.
- Usha was instrumental in turning around LIC Housing Finance Limited. She introduced Hub and Spoke model, risk-based pricing for retail loans and rating systems for projects and developers, and delinked marketing and risk appraisal system for better corporate governance. She was also responsible for introducing direct marketing in LIC. LinkedIn – Usha
- Sangwan led LIC to leverage social media, and now the Corporation has gained a fanbase of over 65.82 lakhs on its official Facebook page, as of 2021. Regarding this, Usha said in an interview, BSE India Business Today
There is no choice in today’s world. You have to listen to tech-savvy customers on these platforms and address their issues.”
- Apart from this, Sangwan also institutionalized many corporate communication activities like College Campus and Rozgar Melas, LIC Student of the Year, and Mobile Van. Her other new initiatives in marketing include Super-30, a mobile application for LIC Customers and agents, and an SMS-based helpline for customers. She also took LIC Housing Finance Limited to the international market and raised Rs. 1,853 million through global depository receipts. LIC HFL
- After a career spanning almost four decades, Usha Sangwan announced her retirement from the post of LIC India’s MD on 30 September 2018. Moneycontrol