Mumbai: FatakPay, a digital financial services platform, has announced the appointment of Bikash Choudhary as the Chief Executive Officer of FatakSecure, the company’s newly launched insurance vertical. This strategic move marks a major milestone in FatakPay’s growth journey, as it formally ventures into the insurance space with a vision to make protection a foundational pillar of financial wellness for India’s underserved and emerging segments.
Bikash Choudhary, a seasoned actuary with over 22 years of experience across actuarial, risk, product, and governance functions, will lead FatakSecure’s strategy and execution. He previously served as Chief Actuarial and Governance Officer at IndiaFirst Life Insurance, where he played a pivotal role in governance, disclosures, new product lines, and organizational strategy. His career also includes leadership roles as Appointed Actuary and Chief Risk Officer at Future Generali India Life Insurance, and prior stints with Willis Towers Watson, Bajaj Allianz Life, and Aviva Life. With experience spanning Indian and international markets, Bikash remains actively engaged in industry development through regulatory forums and thought leadership platforms.
As CEO of FatakSecure, Bikash will be responsible for building an insurance platform aimed at closing the protection gap for millions of uninsured or underinsured Indians. Leveraging FatakPay’s growing user base across lending, payments, and investments, he plans to integrate simple, digital-first insurance solutions into everyday financial behaviour. His priorities will include expanding access, increasing awareness, and building trust in insurance, particularly among gig workers, blue-collar employees, and underserved families in Tier II and III cities.
Commenting on his new role, Bikash said, “The growing population segment in Tier II and beyond remains largely uninsured. It is our aim to make insurance simple, accessible, affordable, and transparent to meet the real needs of such segments. Insurance in India must evolve to serve people at the grassroots level to support the Government’s vision of ‘Insurance for All’—to solve issues of awareness and availability of insurance products for the general public with simplified products and a transparent approach, making FatakPay a truly Financial Wellness partner for its customers. FatakSecure represents an opportunity to bring protection into the daily lives of Bharat. I’m excited to build a platform that truly puts people first.”
Amit Lodha, Group CEO of FatakPay, added, “We’re excited to welcome Bikash as CEO of FatakSecure at a defining moment for FatakPay. With over 70% of our users returning to us, we’ve earned their trust and deeply understand what they need to feel financially secure. FatakSecure is a natural step forward as we grow from a lending platform into a complete financial wellness partner. We already know our users—how they earn, borrow, and save, which gives us a unique advantage in offering insurance that’s simple, relevant, and easy to act on.”
Bikash’s appointment underlines FatakPay’s commitment to developing inclusive, high-impact insurance solutions. With IRDAI data showing India’s insurance penetration at approximately 4.2% of GDP—well below the global average of over 7%—FatakSecure seeks to bridge this gap by delivering accessible, easy-to-understand insurance offerings. As part of FatakPay’s broader mission to democratize financial wellness, FatakSecure will integrate protection alongside lending and wealth-building tools, fostering financial resilience across Bharat.
