CarePal Group’s ‘CarePal Secure’ Elevates Pankaj Nawani to Chief Executive Officer, Pioneering Integrated Health Protection Marketplace

CarePal Group’s ‘CarePal Secure’ Elevates Pankaj Nawani to Chief Executive Officer, Pioneering Integrated Health Protection Marketplace

Bangalore, 4th Nov 2023 — CarePal Group, a prominent name in India offering integrated healthcare financing solutions, is proud to announce the appointment of Pankaj Nawani as the Chief Executive Officer of ‘CarePal Secure,’ the company’s integrated health protection marketplace.

With a robust and extensive 16-year background in the finance and insurance sector, Pankaj Nawani brings a wealth of experience to his new role. Pankaj joined CarePal Secure as the Chief Business Officer last year, having previously held key positions at prestigious organizations such as Standard Chartered Research & Technology, Max Life Insurance Company Ltd, Bajaj Finserv, and Polaris Software Labs.

“India faces a pressing healthcare financing challenge, with an annual gap of $72 billion attributed to high out-of-pocket expenses. The out-of-pocket expenditure (OOPE) in India stands at a staggering 62%, which is three times the global average. Under the guidance of Pankaj Nawani, CarePal Secure is poised to emerge as a comprehensive integrated health protection marketplace, delivering tailor-made solutions to address the escalating healthcare expenses in India. In his new role, Pankaj will spearhead the overall business and strategic direction of CarePal Secure,” said Piyush Jain, Co-Founder and CEO, CarePal Group.

Khushboo Jain, Co-Founder and COO of CarePal Group, said, “Pankaj brings a wealth of experience and a proven track record in the healthcare and insurance industry. His visionary leadership will be instrumental in driving CarePal Secure’s mission to revolutionize healthcare insurance and protection. Together, we are committed to providing innovative solutions that empower individuals and families to take charge of their well-being.”

“India’s out-of-pocket healthcare expenses are among the highest globally, causing financial distress to many. We believe that healthcare financing and protection represent a significant business and social responsibility in India today. We intend to build an ecosystem combining insurance, fintech, and health tech along with Carepal’s extensive hospital partnerships to make a full spectrum solution available in the country,” said Pankaj Nawani.

In its inaugural year, CarePal Secure successfully served over 10,000 customers, a milestone that quickly surged to an impressive 30,000 within the following six months. Demonstrating their commitment to enhancing their offerings, CarePal Secure aspires to serve approximately 50,000 customers within the current financial year.