“CEO’s Reflections on ROX: Corporate Elegance at 25 South”

Vighnesh Shahane, the Chief Executive Officer and Managing Director of Ageas Federal Life Insurance, has steered the company into becoming one of the top 10 insurance firms in India. With a career spanning over 25 years in finance, Mr. Shahane has utilized his unique approach, grounded in principles of honesty and hard work, to comprehend the essence of Return on Experience (ROX). In a special series titled “Life’s True Value” by 25 South, a captivating exploration into the authentic significance of life experiences, Mr. Shahane shares his insights into ROX and its impact on both corporate and personal realms.

The third episode of the series focuses on ROX, a critical element that prompts corporate leaders to invest significant time and resources in enhancing the satisfaction of customers and employees alike. The discussion extends to the realm of luxurious homes provided by 25 South, posing a fundamental question: Why do accomplished individuals, particularly in the business world, invest substantially in these residences? Is it a mere display of affluence, or is there a sincere belief in the correlation between one’s living environment and professional success?

For Mr. Shahane, ROX transcends mere financial gains or tangible outcomes. It revolves around providing customers with a fantastic experience, from the initial purchase to post-sale support. This concept, he emphasizes, extends beyond the insurance industry to encompass various sectors like banking, FMCG, and airlines. ROX has become a pivotal term, underscoring the importance of creating an all-encompassing positive experience for customers.

Delving into the connection between ROX and living spaces, Mr. Shahane asserts that the choice of one’s residence significantly influences ROX. The place one chooses to live should contribute to a positive state of mind, considering the substantial time spent at work and home. Mr. Shahane highlights the importance of a bright, airy living space with essential amenities, emphasizing the impact of the living environment on personal well-being and professional success.

Reflecting on factors that affect his ROX in living spaces, Mr. Shahane expresses a preference for gated communities with excellent amenities. His own home features specific elements contributing to ROX, such as a meditation room, workout area, bookshelves, and a recliner for afternoon naps. He emphasizes the importance of creating occasional experiences where quality supersedes quantity.

While exploring 25 South, Mr. Shahane admires the spaciousness and sea view in the podium area, acknowledging the significance of sufficient space, greenery, and scenic views in creating the perfect state of mind. Stressing the relevance of ROX in choosing a home, he believes that opulence is not a prerequisite for a great experience; functionality holds more importance.

In terms of stress management and mindset, Mr. Shahane reveals that he feels less stressed now than he did 12 years ago before becoming CEO. He attributes this to having a competent and hardworking team, which handles the heavy lifting while he focuses on crucial decisions. His favorite spot in his living space, the workout room, serves as a sanctuary that recharges his energy and sets the right state of mind in a short span.

Drawing on his experience as a Ranji Trophy player, Mr. Shahane underscores the profound impact of sportsmanship on life lessons. He aligns his leadership style with a sports team, fostering open communication, engagement, and meritocracy within his organization.

Transitioning into the insurance sector, Mr. Shahane explains the shift from Return on Investment (ROI) to ROX. In a commoditized industry like insurance, where products and processes are similar across competitors, differentiating through customer and employee experiences becomes paramount. He emphasizes Ageas Federal Life Insurance’s commitment to being an admired, profitable, and customer-centric company without compromising on employee and shareholder experiences.

Reflecting on the parameters set for customer and employee satisfaction, Mr. Shahane mentions profits and dividends for shareholders, employee engagement surveys, and Net Promoter Scores (NPS) for customers. He emphasizes the importance of tracking progress across every category, from employees and customers to shareholders and distributors.

In the final segment, Mr. Shahane discusses the relevance of living spaces to productivity, stating that a positive experience at home enhances productivity. He questions the necessity of physical offices in the era of remote work and highlights the significant impact of home ambiance on personal productivity.

In conclusion, Mr. Vighnesh Shahane’s insights provide a comprehensive understanding of the concept of ROX and its profound impact on both corporate and personal life. As the business world increasingly prioritizes ROX, Mr. Shahane’s wisdom serves as a valuable guide for navigating the evolving landscape of customer expectations, employee satisfaction, and the pursuit of life’s true value.