By Singapore/ New Delhi [India]: OCKTOLIFE, the most comprehensive employee benefits platform is pleased to announce the appointment of Rajesh Sabhlok as its Co-Founder and CEO effective April 1, 2024. With around 25 yrs. of extensive experience in employee benefits; work site marketing; insurance distribution; insurance strategy, innovation and M&A consulting; scaling tech platform and building tech-enabled, customer-focused businesses; Rajesh brings a wealth of knowledge, domain expertise and leadership to Ocktolife, positioning the company for accelerated growth and innovation in the Employee Benefits (EB) market.
Ocktolife aggregates all insurance, non-insurance benefits, health and wellness ecosystem and rewards program on a single platform making it easy for companies to administer and monitor consumption; run employee engagement programs and drive benefit utilisation, thereby improving the RoI on their EB spend. Additionally, offers flexibility to employees to curate their own EB plans and buy voluntary insurance top-ups, non-insurance benefits and other discounted merchandise on the marketplace, powered by a digital wallet, which holds the available EB spend as well as reward points earned by them.
In his new capacity, Rajesh will drive the business and commercial aspects for Ocktolife. He will work closely with Arjun Chopra, Chairman and Co-Founder, to further enhance the company’s offerings, expand its market presence, and capitalize on emerging opportunities in the rapidly evolving employee benefits landscape.
Commenting on the appointment, Arjun Chopra, expressed his enthusiasm and stated, “We are thrilled to welcome Rajesh to the Ocktolife family as our Co-Founder and CEO. His insurance domain experience, proven track record of driving growth and fostering innovation will be instrumental in propelling our company to new heights.”
He continued, “Rajesh’s joining is opportune for us as it comes at a time when the Indian benefits and rewards industry is going through a transformation from a one size fits all approach for benefits to a much more personalised and customised approach to suit the varying needs of employees.”
Douglas Hudson, Managing Partner of Braxton Capital, who are existing investors commented “Ocktolife has done an amazing job bringing onboard such a talented co-founder with incredible expertise in the areas of start-ups, insurance, technology, and sales / marketing. Rajesh’s significant experience in these areas makes him the perfect addition to accelerate growth with Arjun and the Ocktolife Team. At Braxton Capital, we believe these are exactly the type of leaders who add exceptional value to start-up’s growth prospects.”
“There is a big gap in the EB space, when it comes to a tech platform layer that offers the employers the opportunity to customize the business rules that allow their employees to personalize the benefits they want to avail. This is where Ocktolife could be a game-changing offer for the mid-market segment and I am excited to back Arjun, Rajesh and team to make a dent in this segment” said Prantik, an Angel Investor in the firm.
Rajesh shared his excitement about joining Ocktolife, stating, “I am thrilled to lead the energetic team at Ocktolife, propelling the company into its next chapter of growth and innovation. The company has built a strong reputation for its comprehensive and forward looking client-centric technology, which is crucial for achieving further growth and excellence in business operations.” He added, ” The tech capabilities of the platform is capable of unlocking several new use cases for our clients / affinity partners and initial discussions around these seem very promising.”
Arjun said “We are confident that under Rajesh’s leadership, Ocktolife will continue to thrive and exceed expectations in delivering unparalleled use-cases/ solutions targeted at solving the core systemic issues being faced by our clients.”
Ocktolife is a B2B2C Enterprise SaaS Platform in the Employee Benefits space which aims to create a healthy and engaged workforce by offering a comprehensive suite of health and wellness benefits and rewards to employees. Started in 2021, the platform offers an integrated end-to-end digital experience which would alleviate the inefficiencies in the overall insurance and benefits issuance and consumption.
With multiple local and international companies using Ocktolife for their group benefits, the company is in expansion mode, both in terms of its service offerings and capabilities targeting mid-market enterprises.