CEO Insights Magazine

Astrong CEO is critically important to an organization. Strong leadership at the top of any organization creates an environment for success in the constantly evolving business landscape. Narayan Babu Lohani is an industry stalwart who holds the office of CEO at Reliable Nepal Life Insurance which is a trusted life insurance company that has been able to make impressive strides in the finance & insurance industry across Nepal.

Before moving into the insurance sector, Narayan was associated with the Nepalese Banking & Financial industry for more than a decade successfully spearheading companies and delivering above & beyond industry-average returns to investors. He has extensive experience working as a consultant for reputed banks, financial institutions, and insurance companies.

Apart from being a great business leader, he is involved in many social institutions and organizations including the Nepal Engineering Council (NEC) and the Management Association of Nepal (MAN). Additionally, he is also the Founder Chairman of a Merchant Banking and Micro-Finance Company. His unrivalled industry knowledge and leadership skills have enabled Reliable Nepal Life Insurance to achieve massive milestones and become a prominent market player in the insurance industry of Nepal.

Let’s hear it from the versatile leader as he speaks about the company and more.

What is your success mantra?
Success has a different meaning for everyone but all have one thing in common - a strong willpower that provides the necessary boost to people on the path to success. I believe success comes to those who refuse to give up irrespective of the number of falls they experience and the number of obstacles they face. Having strong willpower and determination to achieve bigger goals has been my mantra to success.

How would you define Reliable Nepal Life Insurance as an organization and its position in the market?
Reliable Nepal Life Insurance is a life insurance company approved by Nepal Insurance Authority, the regulatory body. The company is promoted by an eminent group of economists, industrialists, bankers, and reputed professionals, and is being led by 300+ experienced professionals. We leverage cuttingedge technology and our philosophy of customercentricity to offer products & services that are unique & innovative. With our ability to offer various kinds of policies for long-term savings and protection to meet different life stage requirements of our customers, so far, we have been able to serve the highest number of insurance policies, and claim settlement for customers in Nepal.

What are the fundamental factors you consider while suggesting financial/wealth management plans to your customers?
We offer a wide range of life insurance products based on the needs of the customer. Our services include Endowment Life Insurance Policy, Single Premium Insurance Policy, Endowment Cum Whole Life Insurance Policy, Anticipative Endowment Life Insurance Policy, Child Endowment Life Insurance Policy, Term Insurance Policy, Micro Insurance Policy, and Health Insurance Benefits, all focused on the need-based analysis of the insurance of the customer.

Tell us about your leadership and governance approach.
I believe in a participative style of leadership. As a democratic leader, I encourage my teams to bring in their unique inputs and participate in the company’s decision-making. I have an open-door policy for my employees where they can approach me with their concerns, no matter how big or small, and I involve in listening to them and empowering them to engage in effective two-way communication. Moreover, I believe in leading with transparency, openness, and honesty. I keep my team, clients, and stakeholders in the loop and share information with them freely. This kind of open culture has helped us in increasing productivity and trust within and outside the organization.

 
What is the future destination you are heading towards?
I have been serving the banking & financial industry of Nepal for over two decades and look forward to offering a lot more innovative products & solutions to this industry and its people with the same zeal and enthusiasm. The global life insurance industry has seen significant changes over the past decade. Currently, as the CEO of an insurance company, I am striving to empower insurers so that they can re-invent and re-establish their vital roles in customers’ lives.

In light of your strong industry experience, what advice would you give to budding leaders who aspire to make a benchmark in the industry?
There is a very thin line between success and failure, and that line is essentially willpower. Willpower is the basis of success. Budding leaders must increase their willpower. And as a result, they will increase the likelihood of success where that willpower will be channeled. Anyone can become successful in their profession if they have integrity, persistence, a learning attitude, self-awareness, knowledge, and the determination to achieve higher goals.

Narayan Babu Lohani , CEO, Reliable Nepal Life Insurance 
A Civil Engineer with a Master’s degree in Business Administration, Narayan is a highly reputed leader in the corporate sector and the banking & financial sector and is recognized as one of the competent CEOs in Nepal with a proven track record of establishing and leading organizations across the country.

• Hobbies: Reading Books
• Favorite Book: You Can Win
• Favorite Travel Destination: Pokhara in Nepal
• Favorite Cuisine: Nepalese