#UshaSangwan #LICIndia #InspiringIndianWomen
In December 2013, Usha Sangwan made headlines when she accepted the position of the managing director at the Life Insurance Corporation of India (LIC). Since its establishment in 1956, LIC has been run by a number of managing directors but never a female managing director.
In fact, this is the first time in LIC’s history that the position of a managing director has been given to a female employee. Usha Sangwan joined LIC in 1981 as a direct recruit officer and she slowly worked her way to the top.
In the last 33 years, she held several positions, including that of the divisional manager of Delhi, general manager for marketing at LIC Housing Finance, and the executive director of direct marketing and international operations. During her tenure at LIC, Usha Sangwan worked hard, learnt the ropes of the industry and never gave up even in the toughest of times.
Usha Sangwan managed to climb the corporate ladder quickly because of her determination and out-of-the-box thinking. To increase LIC’s customer base, Usha Sangwan decided to leverage on social media, and today, LIC has over 16 lakh connections on Facebook. In addition, Usha Sangwan was responsible for taking the housing finance arm of LIC to the international market to raise Rs 1853 million (US$ 29.85 million) through global depository receipts. In fact, LIC was able to enter the global market because of the changes Usha Sangwan introduced in the company.
At a young age, Usha Sangwan made up her mind to become a successful businesswoman and she worked hard to achieve her goal. Usha Sangwan was an outstanding student, with a flair for mathematics and business studies.
Hence, she decided to pursue her bachelor’s and master’s degrees in economics at Punjab University and post graduate diploma in human resource management at the Asian School of Management. To succeed in life, it is important to identify one’s strengths and interests, have goals in life and work towards them. This is what Usha Sangwan did at an early stage in her life and today, she is enjoying the fruits of her labor.
For her outstanding contribution to LIC and the corporate world, Usha Sangwan has been given the Women Leadership Award for the BFSI (Banking, Financial Services, and Insurance) Sector by the Institute of Public Enterprise, and the Brand Slam Leadership Award by CMO (Chief Marketing Officer) Asia.
Usha Sangwan is not just an inspiration and role model to young Indian women but to people of all age groups. Success comes to those who are willing to take risks and think outside the box. Today’s youngsters are impatient and hop from one job to another in search of material gains. This is not the mantra to success. Success takes time and if one works diligently and proves his/her loyalty to an organization, his/her hard work will definitely bear fruits.