Jaipur Based Square Insurance, Insurance Tech Startup, Hires Akash Parwal as CEO and Co-founder

Square Insurance, a Jaipur-based insurtech business, has announced the appointment of Akash Parwal as CEO and co-founder.

“We are delighted to welcome Akash as CEO at this key moment of our development. His extensive expertise, inventive thinking, and dedication to quality make him the right leader to bring Square Insurance into the next phase. As a Co-Founder, Akash’s contribution will assist improve our strategy and execution, ensuring that we continue to set industry standards while providing value to our clients,” stated Rakesh Kumar.

“I am thrilled to accept this role at such an exciting moment for Square Insurance. As CEO, I want to drive the company’s growth by employing cutting-edge technology, growing our product portfolio, and improving consumer interaction. We have a clear path forward, and I am convinced that with our team’s dedication and the backing of our partners, we will reach significant milestones in the coming years. Together, we will make Square a dominant force in the industry,” added Akash Parwal.

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With nearly two decades of experience in the insurance industry, Parwal has held senior positions at notable organizations such as HSBC Innovation Banking, ICICI Lombard, Tata AIG, and, most recently, as Vice President at Reliance General Insurance.

His extensive knowledge of industry dynamics, along with a demonstrated ability to implement growth-oriented initiatives, will be critical in determining Square Insurance’s direction.

As CEO, Parwal will prioritize increasing product penetration, scaling technology-driven solutions, and expanding customer reach. His leadership will strengthen the company’s digital-first strategy, increasing customer accessibility and convenience while driving innovation in product development.

The hiring comes as Square Insurance seeks to expand into neglected communities and become a prominent disruptor in both urban and rural insurance sectors.

Rakesh Kumar founded Square Insurance, which offers specialized insurance solutions and has a strong presence in rural India.

Since 2017, the firm has bridged the gap between client wants and options, collaborating with more than 53 insurers to provide reasonable premiums and bespoke coverage.

In August 2024, Square Insurance raised $3 million in a pre-Series A financing headed by Negen Capital and Bizdateup.