Vibha Padalkar on Leadership, Insurance and Empowerment: Key Lessons from The Simple Hai! Podcast

Vibha Padalkar shared her inspiring journey from CFO to MD and CEO of HDFC Life, where she has worked for over 16 years. She revealed her “Monday Morning Test”: if she doesn’t feel energised at the start of the week, she knows it’s time to move on. Despite lucrative offers, she stayed at HDFC Life because the role continued to motivate her. Her message to the 33,000 employees at the company is clear: work where you feel driven, not just where the pay is highest.

Choosing Finance Against the Odds

Padalkar grew up in a family of high achievers; her mother was an IAS officer, and her father was a marine engineer. Rejecting traditional paths like medicine or engineering disappointed her parents. However, influenced by her uncle, a Finance Director at Kirloskar Cummins, she chose finance at the age of 16, a decision that set her on a path to corporate leadership.

Empowerment Within Organisations

Padalkar challenged the notion that happiness is limited to entrepreneurship. She explained that structured organisations can also offer safety and creativity when employees feel empowered. She urged professionals to avoid being “paper pushers” and to find meaning in their work.

Insurance as a Moral Commitment

Discussing the emotional aspect of insurance, she emphasised the responsibility of handling claims that affect people’s lives and dignity. With family support, her husband and son being great cooks, she finds balance in life and leadership, stressing the importance of empathy in decision-making.

More Women Leaders Needed

Padalkar addressed the gender gap in the financial services sector. She spoke about biases around relocation, motherhood, and leadership roles. Women, she said, are not always taught to advocate for themselves. She urged both organisations and women to work together to increase female representation at senior levels.

Changing Face of Insurance Post-COVID

Following the pandemic, more people are taking insurance more seriously. Term insurance, which was less than 1 per cent of HDFC Life’s new business earlier, now accounts for 6–7 per cent. Products such as “Return of Premium” plans and ULIPs are also experiencing higher demand.

Why You Should Get Insured Early

Padalkar explained how affordable early insurance can be; a 30-year-old can get a one crore term cover for around 500 a month. Once purchased, the premium remains fixed, even if health issues arise later. Her advice is to not wait for life milestones; get insured as soon as you start earning.

Mis-selling and Customer Responsibility

On mis-selling, she admitted that while some bad actors exist, customer ignorance and greed also play a role. She urged people to verify details directly with the company and use official apps, helplines, and vernacular tools.

Aligning Interests in Insurance Sales

Commissions have reduced, but Padalkar stressed the need to align the interests of insurers, distributors, and customers. She appreciated the regulator’s steps toward improving transparency and accountability.

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Leadership Lessons: Balancing EQ and IQ

Padalkar believes that leadership requires both emotional and intellectual intelligence. She explained that there is no rulebook in times of crisis like COVID-19, and leaders must create a culture where every employee feels a sense of ownership and responsibility.

Why You Should Listen to This Episode

This Simple Hai! conversation stands out because it blends leadership wisdom, personal finance advice, and real-world insights into the evolving insurance industry. Vibha Padalkar’s candid stories from choosing finance against expectations to leading one of India’s biggest insurers make this a must-listen. Simple hai! episode for anyone seeking career growth, financial planning tips, or inspiration on leadership.

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