Insurtech startup Square Insurance appoints Akash Parwal as CEO and Co-founder

Jaipur-based insurtech startup Square Insurance recently announced the appointment of Akash Parwal as Chief Executive Officer (CEO) and Co-Founder. 

With nearly two decades of expertise in the insurance sector, Parwal has excelled in leadership positions at prominent institutions like HSBC Innovation Banking, ICICI Lombard, Tata AIG, and, most recently, as Vice President at Reliance General Insurance.

His deep understanding of industry dynamics, coupled with a proven ability to implement growth-oriented strategies, will be pivotal in shaping Square Insurance’s trajectory.

What does Square Insurance do?

Founded by Rakesh Kumar, Square Insurance provides tailored insurance solutions with a strong foothold in rural India.

Since 2017, the startup has bridged the gap between customer needs and offerings, working with over 53 insurers to deliver competitive premiums and personalized coverage.

In August 2024, Square Insurance secured $3 million in a pre-Series A funding round led by Negen Capital and Bizdateup.

Enhancing product penetration

As CEO, Parwal will focus on enhancing product penetration, scaling technology-driven solutions, and expanding customer reach. His leadership will further fuel the company’s digital-first approach, enhancing customer accessibility and convenience while driving innovation in product development.

The appointment comes as Square Insurance positions itself to tap into underserved markets, becoming a leading disruptor in both urban and rural insurance sectors.

Leadership comments

"We are pleased to welcome Akash as CEO at this critical stage of our growth. His vast experience, innovative mindset, and commitment to excellence make him the ideal leader to guide Square Insurance into its next phase. As Co-Founder, Akash’s collaboration will help refine our strategy and execution, ensuring that we continue setting industry standards while delivering value to our customers," said Rakesh Kumar. 

“I am honored to take on this responsibility at such an exciting time for Square Insurance. As CEO, my goal is to accelerate the company’s growth by leveraging cutting-edge technology, expanding our product portfolio, and enhancing customer engagement. We have a clear roadmap for the future, and I’m confident that with our team’s dedication and the support of our partners, we will achieve significant milestones in the coming years. Together, we will shape Square into a leading force in the industry," said Akash Parwal.