T.C. Suseel Kumar
Non-Executive (Nominee) Director - Axis Bank
T.C. Suseel, Kumar, 60 years, has retired as Managing Director of Life Insurance Corporation of India in January 2021. A University Rank-holder in Post Graduate, he joined the Corporation as a Direct Recruit Officer in 1984. During a span of more than 3 decades in the Corporation, he held various distinguished positions in the Corporation pan India and abroad. Holding the senior position as Executive Director at the Corporate Office, he has the distinction of working in all major streams that included Marketing, Customer Relationship Management, Personnel, Finance & Accounts, Audit, Corporate Planning, Inspection, Estates, Human Resource Development, Bancassurance and Investments besides heading foreign operations in Mauritius.
Quite strong at analytics and interpretation of data, he had authored the business strategies of the Corporation aligning the short and long term goals to regain the market share. During his stewardship in Marketing, the LIC has crossed many a milestone with all time high First Year Premium Income and consolidated its market leadership with appreciable growth.
He also pioneered the market research program to target the millennial for both new business and agency recruitment. The Corporation, after over a decade, could add more than a lakh of agents during the year 2020-21. He was also instrumental in rolling out automated business data compilation and analysis in real time across the Corporation and that enabled the managers to strategise and execute the business plans.
Given his rich experience and expertise in the field of insurance and finance, he has held positions on the Boards of many important companies viz. National Mutual Fund- Mauritius, LIC Lanka Limited, LIC HFL AMC Limited, LIC Pension Fund, LIC Mutual Fund Trustee Company, National Insurance Academy. His contribution as Board member was significant as companies derived rich benefits from his cross functional expertise.
He has attended various senior management training seminars, including sessions at Asian Institute of Management, Manila, Indian School of Business, Hyderabad and various Indian Institute of Management.
Presently he is on the board of BSE Limited and Lakshmi Machine Works Limited.
He is a Member of Special Committee of the Board of Directors for Monitoring of Large Value Frauds, Customer Service Committee and Audit Committee of the Board of the Bank.
He is not related to any other Director or Key Managerial Personnel of the Bank.