Sumit Madan

About Sumit Madan

In my journey of over 25 years across FMCG, banking, and now insurance, I have been fortunate to build and scale businesses with a focus on people, customers, and disciplined execution. From setting up networks from scratch to reviving underperforming units, each experience has reinforced the power of clarity, consistency, and deep customer understanding. At Axis Max Life, the excitement continues as we scale new heights, deepen partnerships, and work towards our vision of being the most admired life insurance company in India by securing the financial future of millions of households. A key part of this journey has been integrating technology with distribution strategies, which has strengthened customer access, enhanced productivity, and helped position Axis Max Life among the fastest-growing private life insurers in the country. Along the way, we are building a culture that combines innovation with trust and execution with empathy, ensuring we remain relevant to an evolving India. India today stands at the cusp of a unique opportunity. An increasing number of Indians are recognizing the importance of insurance, products are evolving to match the needs of a dynamic customer base, and the regulator is enabling transformative changes that are reshaping the industry. This convergence of awareness, innovation, and policy support makes it a defining moment for life insurance. At Axis Max Life, we see this as both a responsibility and an opportunity to create meaningful impact for generations to come.

Experience

1. MD and Chief Executive Officer

   Axis Max Life Insurance Limited

   Oct 2025 — Present · Gurugram, Haryana, India

   CEO of Axis Max Life Insurance, one of India’s fastest-growing life insurers, with a team of over 25K employees and 1.3L agent advisors. The company today is valued at USD 7.5 billion, manages assets of USD 22 billion, and has an embedded value of USD 3 billion, reflecting the strength of its growth and long-term performance. Guided by a clear purpose, Axis Max Life works to inspire people to increase the value of their life while securing their financial future

2. Chief Distribution Officer

   Axis Max Life Insurance Limited

   Feb 2024 — Oct 2025

   In my current role, I’m leading the development and execution of distribution strategy for Proprietary, Partnerships, Group and online business. Driving the company’s revenue growth and profitability, with focus on both the quality and quantity of business, ensuring regulatory compliance and maintaining strong relationships with customers and channel partners. Would also be leading the organization’s growth plans through evaluation and acquisition of new business partners. And actively fostering relationships with key partners, including the JV partner, channel partners, the Board, Independent Directors, regulatory bodies, government agencies, industry forums, and the media. One of the key elements of the role also is to oversee and ensure availability of capacity and infrastructure to cater to growing business needs.

3. Head - Retail Liabilities & Branch Banking at IDFC FIRST Bank

   IDFC FIRST Bank

   Mar 2022 — Feb 2024 · India

4. Head - Branch Banking

   IDFC FIRST Bank

   Sep 2019 — Feb 2024 · Mumbai, Maharashtra, India

5. President

   AU SMALL FINANCE BANK

   Sep 2016 — Sep 2019

6. Chief - Branch Banking

   AU SMALL FINANCE BANK

   Sep 2016 — Sep 2019 · Jaipur, Rajasthan, India

7. Regional Head - North India

   Citibank

   Dec 2014 — Sep 2016

8. Senior Vice President, Head Sales Planning & Strategic Initiatives

   Citibank

   Mar 2013 — Nov 2014 · Mumbai

9. Citibanking Head - Gujarat & Madhya Pradesh

   Citibank India

   Apr 2010 — Feb 2013 · Ahmedabad

   Managed branches of the Bank across Gujarat & MP. Responsible for financial delivery and growth of the franchise.

10. Cluster Head

    Citibank India

    Aug 2008 — Mar 2010 · Ahmedabad

    Managed the branches of Ahmedabad, Bhopal and Indore

11. Branch Head, Ahmedabad

    Citibank India

    Mar 2006 — Jul 2008 · Ahmedabad

12. Relationship Manager

    Citibank India

    Dec 2003 — Feb 2006 · Mumbai

13. Sales Manager, Cards

    HDFC Bank

    Apr 2003 — Nov 2003 · Mumbai

14. Sales Manager Cards, Aurangabad

    GESBI Cards

    Sep 2002 — Mar 2003 · Aurangabad

15. Area Sales Manager, Delhi

    JL Morison

    Apr 2000 — Aug 2002 · Delhi and Rajasthan

Education

• Delhi University

  Bachelor of Commerce (BCom)

• St. Xavier School - Delhi

• Lal Bahadur Shastri Inst. Of Management

Skills

• Leadership
• Time Management
• Credit
• Management
• Retail Banking
• Team Management
• Risk Management
• Wealth Management
• Sales
• Relationship Management
• Portfolio Management
• Banking
• Financial Services