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Impact 2023: 3 Years of AegisCovenant, a Milestone in Inclusive Leadership in the Insurance Sector

Published: July 28, 2023

Impact 2023, the celebration of AegisCovenant’s third anniversary reflects the companys commitment to collaborative and inclusive leadership. The teams efforts have played a crucial role in the companys phenomenal journey that has ultimately led to them acquiring over one million customers.

R to L: Sonendra Verma, Founder of AegisCovenant and Aditya Sharma, CDO – Bajaj Allianz General Insurance Giving Car Key of Mahindra Scorpio-N to one of AegisCovenants early joinee

“When I joined the company three years ago, I was perplexed about the stability and risks associated with it. Now, it has become an institution of 50 people which is more like a family,” Gaurav Arora, Regional Head, Business Development, AegisCovenant.

The company decided to reward all of their exceptional team members for their dedication and commitment with unique gifts and substantial cash prizes. Each employee received a Casio wristwatch, and nine performers received momento’s and cash prizes ranging from Rs. 50,000/- to Rs. 5,00,000/-. The two business development leaders who have contributed significantly to the company’s present standing, having been first team members to join, were celebrated with swanky new Mahindra Scorpio-N cars. This move was seen as an industry-first and aimed to acknowledge every single pillar of the organisations ecosystem. The key stakeholders from the industry recognised this gesture as an act of groundbreaking team equity and setting an example for others to follow.

Sonendra Verma, the founder of AegisCovenant, comes from a humble background. Born in a small town of Uttar Pradesh, he had the rich experience and learnings from three failed start-ups before starting AegisCovenant at 39. He started working at 15, founded his first start-up at 18 and joined his first full time job at 20. Sonendra’s belief is that the culture they are setting at AegisCovenant should be encouraged across the industry – to appreciate and recognize the efforts of all team members, not just the leadership team. This is a practice he never experienced and missed during his career spanning over 25 years. It made him create a company with a difference.

“At AegisCovenant, we look at intention and interest before skills and expertise – it has helped us innovate and fuel our journey with passion. No wonder, the average age of the team is just 28,Sonendra Verma, Founder and CEO, AegisCovenant.

As of the companys third anniversary on July 21, 2023, AegisCovenant has achieved significant progress and has grown to serve over one million customers across 403 locations.

To celebrate this milestone, the team was joined by Mr. Aditya Sharma, Chief Distribution Officer (CDO), Bajaj Allianz General Insurance Co. as the Chief Guest for the event. We were also joined by Mr. Manoj Kumar, Head, Virtual Sales Office (VSO), Bajaj Allianz General Insurance Co.; Mr. Jitendra Hodawadaker, Vertical Head – Alternate Channels, Bajaj Allianz General Insurance Co.; Mr. G.K. Bansal, Deputy General Manager and Mr. Sunil Kumar, United India Insurance; Mr. Kaushal Verma and Mr. Sanjeev Bahadur, Senior Leadership Team of Future Generali India Insurance Co.; Ms. Akanksha Rathee, Head – Operations, VentureX India.

It is heartwarming to see the trajectory of growth of AegisCovenant in such a short time. However, it is the first milestone and there are multiple avenues ahead. Bajaj Allianz will stand by you from tech to product – at all times, said Mr. Aditya Sharma, Chief Distribution Officer (CDO), Bajaj Allianz General Insurance Co.

AegisCovenant aims to be a trendsetter in the Finsure Tech ecosystem, which combines finance, insurance, and technology. The companys vision is to revolutionise the insurance industry by promoting transparency, commitment, and making it an attractive career choice for young people – while keeping the customer at the centre of it all. Their services include Roadside Assistance, Insurance Management Services, Business Process Outsourcing (BPO), and Vehicle Leasing Services, with a focus on simplifying these processes using technology.

Watch a two minute film on the journey of and life at AegisCovenant:

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