"Empowering Women in Insurance Tech: Geetha Sreedhar's Journey and the Rise of FemTech Innovations"
“Entrepreneurship is hard and lonely, it takes a lot of guts, strength, dedication and perseverance, so anything I can do to support them is gratifying to me.” Today’s woman dreamer, Geetha Sreedhar is an insurance tech leader know. She is the co-founder of COO of Tarmika, and has served on the board of TIE Boston and FemStem. In her Women Who Win interview, Geetha elaborated on her path from chartered accountant to insurance entrepreneur, including her experiences in returning to work after her kids started school, and how skills like decision making have been crucial in her career. Enjoy!
1. Tell us your story. You are a visionary leader in the insurance tech space. Where did you grow up, and how did you develop your interests in insurance, technology, and innovation?
I spent my formative years in Coimbatore, India, I pursued a career path that led me to become a Chartered Accountant and Cost Accountant. Following my certification, I joined United India Insurance Company in Chennai, where my interest in the insurance industry took root. Subsequently, I relocated to the United States to pursue further education, earning an MBA and becoming a CPA. Upon returning to the insurance sector, I leverage my expertise not only in finance but also in introducing innovative technology solutions, resulting in improved productivity. Throughout my professional journey I have brought in new tech and innovation to my roles.
2. You have had extensive leadership experience in your career, serving as a Board Member for TIE Boston and Fem Stem as well as serving in roles as an Advisor and Mentor. How would you describe your leadership style?How do you hope to empower other entrepreneurs through your role with TIE and FemStem?
I have a collaborative management style and place great emphasis in nurturing transparency across teams. That in turn fosters a sense of mutual trust, openness and commitment which is instrumental in building great companies and teams.
TiE Boston is the second oldest and second largest TiE chapter in the world, and currently has more than 200 charter members. As a Board Member and a TiE ScaleUp Task force member, I work with entrepreneurs, investors, allies and businesses to build an innovation ecosystem and help them get the start-ups to the next stage of growth. We offer mentorship, funding, education and guidance at every stage of an entrepreneurs journey. I really enjoy working with the entrepreneurs and guiding them in growing their companies and bringing their solutions to solve the pressing problems that society faces. Entrepreneurship is hard and lonely, it takes a lot of guts, strength, dedication and perseverance, so anything I can do to support them is gratifying to me. At Femstem we are dedicated to helping women and underrepresented communities thrive in STEM. FemSTEM supports an inclusive community where women can network, collaborate, learn from each other and advance their careers in technology.
3. Tell us more about your journey as the co-founder and COO of Tarmika. What inspired you to found that company ?
I have had leadership roles in a number of financial service companies in the Boston area. After 4 successful years at Liberty Mutual, I felt I had learnt, contributed and grown as much as I could. Then I began looking for my next big opportunity. I went to a number of networking events to get new ideas. After numerous discussions, I felt that a start-up would be perfect to bring together all that I had learnt over the course of the last 25 plus years. I have extensive experience in the insurance sector and felt a startup that addresses the needs of brokers in the P&C space could solve an unmet need. So I started Tarmika.
At Tarmika, we were meticulous in our approach to building and designing an innovative tech solution that looked amazing but was simple and easy to use. The product solved a very complex challenge. We were measured in our fundraising, raising only the necessary capital and maintaining a strict control over expenditures. Our dedication resulted in the development of a tech product that was the most innovative in its class. Within a span of less than three years, our customer base on our platform expanded to encompass a majority of the top 10 largest property and casualty insurance companies and agencies.. We were acquired in 4 years by a leading global provider of insurance software. I hope my story will inspire others to make tough choices, challenge themselves and set high goals.
4. What was one of the bigger challenges you faced in your career and what did you learn from it?
The biggest challenge I faced was when after a great career I stepped away to be a stay at home mom and later sought to reenter the workforce.
I started my career as a Supervisor at Lumber Mutual Insurance Company. In four short years, I ascended the corporate ladder to the position of AVP and Assistant Treasurer. However, the arrival of my first child followed swiftly by the birth of my second one prompted me to reevaluate my priorities. In 1997, feeling accomplished in my career goals, I made the decision to step back and embrace the role of a stay-at-home mom.
Fast forward to 2001, with my youngest ready for kindergarten, I felt the pull to rejoin the workforce. To my dismay, I discovered a dearth of suitable job opportunities, compounded by the challenge of finding a role with a reasonable commute. After months of fruitless searching, I reluctantly accepted a Supervisor position at Putnam Investments, a move that saw me transitioning from a corner office to a cubicle.
Initially, the adjustment was arduous, and during my daily commute, I grappled with feelings of regret for relinquishing my senior position. However, after a month of self-reflection and pep talks, I made the conscious decision to grant myself acceptance of my past decisions and embrace a fresh start. I resolved to maintain an open mind for six months, allowing myself to find fulfillment in my work and reassess my situation thereafter.
With this newfound perspective, my outlook brightened. I recognized the intelligence of my boss, the strength of my team, and the inherent interest in the work at hand. Six months into the role, I acknowledged Putnam Investments as a fulfilling workplace. Emboldened by this realization, I set a goal to attain the position of Vice President within five years. It was a moment of triumph when I achieved this milestone in 5 years! The pivotal lesson gleaned from this journey is the importance of self-forgiveness and continual self-challenge. Accept your past decisions and embrace the present circumstances. There are always going to be ups and downs in life, you always have to believe in yourself, have the confidence and tenacity to face them with a smile. And believe tomorrow will be a better day. Never settle for complacency; instead, cultivate a robust network of colleagues and professionals both within and beyond the workplace. Don't hesitate to seek advice and support from this network when needed, as it can be invaluable in navigating professional and personal growth.
5. Is there an empowered woman you really admire? If so, what do you admire about them?
There are so many women I admire, my favorite women are the underdogs who makes it big against all odds and are hugely successful, but at the same time success doesn’t get to their head, they are kind, happy and give back to the community. Serena Williams is a classic example.
6. As we are the platform for women dreamers, what is your next big dream?
I am driven by a desire to contribute to my community and make a positive difference. Helping others succeed and realize their dreams and aspirations brings me great satisfaction. To that end I have recently launched Femstem, a non profit to help women thrive in stem. My next big dream is to bring an innovation and start-up ecosystem to my hometown Coimbatore, this project is in the ideation phase and I am open to input from the readers.
7. As Women Who Win aims to share the advice and guidance of women around the world, do you have any advice for our readers?
One piece of advice I would offer to readers is to prioritize the cultivation and enhancement of their decision-making abilities. Life unfolds through a sequence of choices, and your achievements hinge upon making sound decisions. Take the time to reassess your pivotal decisions, reflecting on their outcomes and their impact on your journey. Continuously strive to refine and elevate your decision-making prowess through learning and experience, as this skill serves as a cornerstone for navigating life's complexities and realizing your aspirations.
I will give an example of decision making - let us say you challenged yourself and took that big promotion that was offered to you even though you were not sure if you could handle the additional responsibility. In 6 months evaluate and see how it worked. If it worked well then you made the right decision if not evaluate how you could have made other decisions along the way.