Bangalore, India – a global epicenter of technology. From this dynamic base, Niraz Buhari,  Group CEO of  C&C Insurance Group Company, is not merely witnessing the InsurTech revolution; he is architecting its future. His journey, grounded in the rigorous discipline of computer science in Bangalore, has culminated in a strategic vision that blends technology and tradition to propel C&C Insurance Group to the forefront of the global insurance landscape.

In an industry ripe for transformation, Niraz is leading the charge, demonstrating how innovation, rooted in a deep understanding of both technology and human needs, can redefine an entire sector. This is the story of a leader forging a new paradigm in insurance – one built on vision, strategic execution, and a relentless pursuit of progress.

Educational Foundations and an Unforeseen Turn

Niraz Buhari’s story is filled with surprising turns and strong decisions. He started in India with a professional degree program in computer science Engineering. This demanding program sharpened his mind for analysis and problem-solving. At 19 years old, Niraz moved to the  United Kingdom to further his education.

He expanded his business knowledge in the UK during his PG programme in Business Management from the London School of Business. He further enhanced his expertise with a mini  MBA in Marketing and additional courses from the City of London University. However, instead of a typical tech career, something unexpected happened. Entrepreneurial opportunities pulled him into the insurance world – a field that would fascinate him and challenge him in completely new ways.

A Fortuitous Turn into the Insurance Industry

Sometimes, the best career moves are not planned at all. For Niraz, entering insurance was, in his  own words, “purely an accident during my entrepreneurial journey.” He explained, “I was  actually being offered some contracts for retail insurance products.” What started as a short project in a new area turned out to be a doorway to an industry where his tech skills and strategic thinking could truly shine.

Over the last 15 years, Niraz has built a thriving career in both insurance and reinsurance. He has grown his firm from an Intermediary to a dynamic leader leading a multinational Insurance and  Reinsurance company under his group in a field known for being complex and traditional. This accidental entry into insurance became the starting point for a journey of constant innovation and strategic investment resulting in steady growth.

In 2019 he was awarded Young Insurance Professional of the Year by Insurance Business Magazine. He was shortlisted for the Businessperson of the Year award by Herts business awards in conjunction with KPMG 2019 and was later recognised by several awarding bodies for the achievement in this respective field.

Insurtech: Balancing Digital Innovation and Human Trust

Today, financial technology, or FinTech, has revolutionised the Industry itself and is changing many industries rapidly. But the insurance industry is unique. It still depends heavily on human judgment and personal connection. Niraz points out that FinTech has taken off; however,  insurance has been slower to adopt and embrace technology on the same scale as most other industries.

He observes, “…there is still a hesitation within the industry to stay in the traditional way of having a broker because there are lots of terminologies and “if and buts” when you buy insurance. So customers tend to depend on the broker as we tend to need more reassurance based on the needs and circumstances of personal or even business or corporations alike.

Customers still value the comfort of talking to a knowledgeable broker – someone who understands their individual needs and offers tailored advice. Niraz notes that the complicated language and specialized terms in insurance can make technology seem impersonal.

However, he is optimistic about the future. With advancements in artificial intelligence and other tools, he foresees technology working alongside human expertise, not replacing it. Niraz believes that as digital solutions improve, “with the emergence of AI, We can advance faster than  what we have achieved so far,” speeding up processes and improving accuracy, while maintaining the crucial element of human trust by addressing the personal questions or assistance that consumers need by addressing the personal circumstances.

Leadership in a Global Arena: Leading C&C Insurance Group Company

Niraz Buhari is now the Group CEO of C&C Insurance Group Company. As Niraz states, his  core responsibilities include “business development, strategic acquisition and investment of  companies globally, and also developing, advancing the business growth and product in areas of  insurance, which ultimately help the overall group companies to advance its market reach and  market share.”

Under his direction, the company has evolved from a traditional brokerage to a diverse reinsurer with a wide range of capabilities. Niraz’s strategic plans are focused on ensuring the company thrives in an increasingly competitive global market. His strategy combines careful risk management with ambitious growth plans, setting the stage for C&C Insurance Group to become a leader in the changing world of insurance, Reinsurance, and Insurance technology. The group has strategic investments in Europe, Asia, and the Middle East, Now the group’s focus is Africa with 3 strategic investments in various Insurance & Reinsurance companies. 

Overcoming Challenges in a Complex Industry

No career path is without bumps, and Niraz’s journey has had its share. He acknowledges that every business Entrepreneur faces challenges. What sets a true leader apart is how they handle these challenges. One ongoing challenge, Niraz admits, is “people, attracting the right talent,  right skills and integrity and quality are always a challenge, especially for a growing firm with no external investments. Finding and keeping talented individuals who not only have the necessary skills but also share the company’s values of integrity and high standards is a constant effort.

Furthermore, in an industry with constantly changing and strict global regulations, staying compliant is a major task. Niraz views these challenges not as roadblocks, but as opportunities to innovate and improve. By focusing on finding solutions, he has turned obstacles into opportunities, ensuring his company remains flexible and resilient in a fast-paced world.

  “How you handle challenges and failures is what makes or breaks you as an entrepreneur, to be  honest,” Niraz reflects.

Vision for the Future: Global Expansion and Strategic Innovation

Looking ahead, Niraz has a clear and ambitious goal: to grow his company into a billion-dollar business with a truly global footprint. His vision includes expanding into new international markets and building strategic partnerships to move the company into new areas. 

Excitingly, Niraz mentions, “We are, at the moment, partnering with some specific, well established reinsurance houses in the Far East.” He also notes significant investments planned for the UK and African markets and collaborations with well-known rating agencies.

Niraz’s plans are about more than just getting bigger; they are about reshaping the industry. He aims to blend cutting-edge technology with the traditional values of trust and personalized service. For a very long time, the global reinsurance industry has been managed by big brokers who are just in the business of selling their brand, not necessarily a solution for the ever-evolving consumers’ or insurers’ needs. His forward-thinking strategy is designed to ensure the company not only grows but also leads the way in adopting innovative practices that improve both customer experiences and how the business operates.

“I wanted to turn this into a billion-dollar company. That’s my target for the next 4 years, and  that’s what I’m working toward,” Niraz states with determination.

Personal Philosophy: A Positive Approach to Problem Solving

Beyond his professional accomplishments, Niraz is guided by a personal philosophy focused on the satisfaction of solving problems. He finds real pleasure in tackling everyday challenges, whether in business or life. This solution-oriented mindset has been key to his success. Instead of focusing on problems, he encourages his team to find creative and practical solutions.

Niraz’s belief that “approaching a problem with a positive attitude has always helped me to grow “rather than thinking about the problem itself, I ask my colleagues to think about the solution” reflects his dynamic leadership and his dedication to continuous progress. For Niraz  Buhari, every challenge is simply an opportunity waiting to be solved.

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