Interview with Ms.Kirti Patil - Sr EVP & Head–IT at Kotak Mahindra Life Insurance

Kirti Patil is Sr EVP & HeadIT at Kotak Mahindra Life Insurance. She believes the disruptive technologies will streamline workflow, predict fraud, and ensure superior personalised service to customers.

I like being a CIO because....

There is never a dull moment in the life of a CIO. With rapid and constant changes happening in technology and technology adoption, the CIO role is always changing. Every day and every problem is different and every solution is unique. I like being a CIO because the role gives an opportunity to learn new technologies every day. It also gives an opportunity to meet people across functions, industries, demographic levels and learn from them.

An 'Aha ' leadership moment in your professional career.

It was when our debt-reduction approach for bringing efficiency in IT operations was acknowledged at an International forum and fellow CIO colleagues present wanted to understand more about it . Another was our implementation of digital workspace for end-users and our unique approach to strict security compliance was selected as a case study for presentation at a large gathering of technology professionals. Such Aha moments make the CIOs role thoroughly enjoyable

As a CIO what was the toughest decision you made?

Tough decisions are those where people and emotions are involved. Employees within the CIO function are expected to identify opportunities for transformation and work closely with business in implementing innovative solutions using emerging technologies. While organizations continue to focus on skilling the workforce, some employees are not able to make the cut. For me, the toughest decisions have been those when I had to let go of such people.

What's the 'next big thing' in your industry vertical?

AI/ML and Video and Voice are the next big things. AI can help underwriters spot good and bad risks, automate processes to streamline workflow, can help predict fraudulent claims, and can help improve persistency. Combined with video/voice it can help give superior personalised service to customers.

One thing that IT departments should do better.

IT departments have the breadth of understanding of the business processes and the depth of technical knowledge. They should use this to anticipate business needs and build solutions for the future. They should also be able to demonstrate the business value of implementing such solutions and get a buy-in from the business. To achieve this, they need to be excellent collaborators and communicators.

Where do you see the CIO role heading in the future?

Along with digital transformation of organizations, the CIO role is also undergoing a transformation. Technology is no longer a support function but is at the centre of most transformation initiatives. CIOs have to move from being technology leaders to business Leaders. They need to partner with business to execute a strategy that will give the organisation a competitive edge in meeting its current and future needs. They also need to work towards building a technology-savvy organization by nurturing a mind-set and culture of innovation, adaptability and learnability.

One thing that CIOs should learn from business?

CIOs should learn how to run the CIO function like a business function. The customer should be at the centre of all decisions. New solutions/technologies that are proposed should be relevant to the customer and economically viable. Goals for any initiative should be defined very clearly and objectively and measured continuously.

The last book on your bedside and what you learnt from it.

Blue Ocean Shift by W. Chan Kim and Renee Mauborgne. The book is a guide to shift you, your team and your organization to new heights of confidence and growth. The concept of Humanness, Confidence and Creative Competence is especially relevant for CIOs who need to unlock the potential of their teams to explore the unknown and build a future ready organization.

Source: The Economic Times