Mumbai | 13 August 2025 – FatakPay, one of India’s fastest-growing digital financial services platforms, has named Bikash Choudhary as the Chief Executive Officer of FatakSecure, its newly launched insurance vertical. This strategic appointment marks FatakPay’s formal entry into the insurance sector, with a mission to make affordable protection a core part of financial wellness for India’s underserved and emerging segments.
A seasoned actuary with over 22 years of leadership experience in actuarial, risk management, product strategy, and governance, Bikash brings deep expertise from both Indian and international markets. Most recently, he served as Chief Actuarial and Governance Officer at IndiaFirst Life Insurance, where he steered governance frameworks, launched new product lines, and shaped organizational strategy. His career also spans leadership roles at Future Generali India Life Insurance, Willis Towers Watson, Bajaj Allianz Life, and Aviva Life.
Under his leadership, FatakSecure will focus on bridging India’s protection gap by offering simple, digital-first insurance products seamlessly integrated into FatakPay’s existing ecosystem of lending, payments, and investments. Special emphasis will be placed on gig workers, blue-collar employees, and underserved families in Tier II and Tier III cities, who often remain uninsured or underinsured.
“The growing population in Tier II and beyond remains largely uninsured,” said Bikash Choudhary. “FatakSecure’s mission is to make insurance simple, affordable, and transparent—solving the twin challenges of awareness and access. We aim to support the Government’s vision of ‘Insurance for All’ and make FatakPay a true financial wellness partner for Bharat.”
Welcoming him, Amit Lodha, Group CEO of FatakPay, said:
“Bikash’s appointment comes at a defining moment for us. With over 70% repeat users, we deeply understand our customers’ financial needs. FatakSecure allows us to extend that trust into insurance—offering products that are relevant, easy to understand, and simple to act upon.”
According to IRDAI, India’s insurance penetration stands at just 4.2% of GDP, compared to a global average of over 7%. FatakSecure aims to close this gap by delivering high-impact, digitally accessible insurance as part of FatakPay’s broader vision to democratize financial wellness—integrating lending, protection, and wealth-building tools on a single platform.
About FatakSecure
FatakPay Insurance Solutions Pvt Ltd, operating under the brand FatakSecure, is a subsidiary of FatakPay Digital. The platform offers full-stack digital insurance solutions across health, accident, life, and device categories. With personalized recommendations powered by lifestyle, income, and behavior data, FatakSecure aims to remove complexity, increase transparency, and boost insurance penetration in India. Policies will be issued under a composite Corporate Agent license (pending IRDAI approval).
