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Naveen Kukreja has stepped down as CEO of Paisabazaar after 11 years at the helm. Santosh Agarwal, who is currently the chief business officer of life insurance at Policybazaar, will take over as CEO starting March 1, 2025.

PB Fintech Ltd, the parent company of Policybazaar and Paisabazaar, announced these leadership changes in a regulatory filing.

“Ms Santosh Agarwal would be taking over as Chief Executive Officer and a Key Managerial Personnel of Paisabazaar to drive the business,” the company said.

PB Fintech highlighted Agarwal’s strong track record, noting that “she has been a top performer in the company almost every year of the last decade.”

Kukreja will transition into the role of group president at PB Fintech and will remain on Paisabazaar’s board as a non-executive director.

“He has decided to step away from running Paisabazaar operationally and explore other opportunities within PB Fintech,” the company stated, adding that it hopes to back him in new ventures within the group in the coming months.

The restructuring also extends to the finance leadership of both Paisabazaar and Policybazaar. Vivek Audichya, CFO of Paisabazaar, will step down on February 28 and move to Policybazaar as its new CFO starting April 1, replacing Ashutosh Mishra, who is leaving the position due to an internal job rotation.

Neeraj Tripathi, who is currently the head of taxation and financial reporting at Policybazaar, will take over as CFO of Paisabazaar from March 1.

PB Fintech stated that these changes were part of a structured process to align leadership roles with the company’s long-term growth strategy and were made through a “competitive” process,

The company has been expanding its footprint in India’s financial services sector, with a focus on digital lending and insurance.

“We have ambitions for Paisabazaar to not just grow its unsecured and secured lending footprint, but also expand into the world of pensions and savings,” the company said.