The real cost in a turnaround is investment in people, says Ashish Vohra

We manage the risks better and with whatever processes and controls we have put in place, we are covering our mortality expenses with what we collect from customers

Ashish Vohra, executive director and chief executive officer, Reliance Nippon Life Insurance, tells Advait Rao Palepu about the issues he faced over the past 18 months in trying to turn around the company. Edited excerpts:

What changes have you brought about on products in the past year?

Sales is an important driver for growth; in insurance, you need profitable growth. The first task in the turnaround strategy was on margin expansion. So, we worked on the ticket-size(s) of our products. Two years earlier, when we used to sell a policy, this was around Rs 25,000 per customer. It is now 71 per