Vijay Singh
New Delhi [India], February 10: A nationalised bank in Maharashtra sold a life insurance policy to a 90-year-old man. The annual premium was ₹2 lakh. The maturity date of the policy was the year 2124. This was not a hypothetical case or an isolated error, it happened. The Reserve Bank of India has since taken note. In its February 2026 policy statement, the RBI proposed comprehensive guidelines to curb mis-selling by banks, including mandatory suitability assessments and stronger accountability for staff. The issue has grown too large to ignore. But regulation alone will not fix it. What families truly need is a fundamentally different kind of advisor. This type of mis-selling stories led to the launch of NYVO.
The founders of NYVO, Harsh and Kshitij, are veterans in financial services. Harsh spent over sixteen years in financial services, beginning with investment banking roles at Bank of America, SBI Capital Markets, and Kotak Investment Banking where he advised on landmark IPOs such as DMart, Embassy REIT, LIC, Star Health, SBI Life and many more. He later served as CFO and Head of Liabilities & New Initiatives at Slice, where he held direct P&L responsibility for liabilities and insurance across more than 160 branches. From that vantage point, he saw how incentive structures function in reality. Advisors were consistently rewarded for selling complex, high-premium products rather than simple policies that were genuinely suitable for customers.
Kshitij’s journey followed a similar path. An alumnus of IIT Delhi and IIM Ahmedabad, where he graduated as an Institute Scholar in the top five percent of his class, he spent years working at BCG and later at Slice. At NYVO, he built one of India’s earliest need-based insurance mapping systems, designed to match products to what customers actually required instead of what generated the highest commission. Yet even with the best intentions, the structural incentives embedded in the system proved too powerful to correct from within.
For both founders, the issue eventually became deeply personal. Harsh faced his turning point while planning an education corpus for his daughter, Nysha. Despite having helped companies raise over $50 billion+, he found it impossible to locate a place that offered honest, unbiased advice for his own family and was offered ULIP products to build his daughter’s education corpus. Every recommendation he received was shaped by commission. For Kshitij, it was watching his parents navigate health insurance after losing their corporate cover post his brother moved to the USA. Every so-called “best policy” presented to them felt like a sales pitch disguised as guidance. The system was not designed to protect families; it was designed to sell to them.
Two founders arrived at one shared conviction: the only way to truly eliminate mis-selling is to remove the conflict of interest entirely.
NYVO, short for “New Voice,” is IRDAI-licensed and built from the ground up to put families first. The approach is advice-led, with recommendations driven solely by a family’s needs, even if the right answer turns out to be the cheapest policy available. The relationship does not end at purchase. NYVO supports families through the entire journey, from understanding requirements to buying the policy and standing by them during claims, including health emergencies, with round-the-clock support. There are no cold calls, no bought lead lists, and no pressure tactics. Families come when they are ready, and they are given the space to decide. Built by insiders who understand exactly where and how the system breaks, NYVO exists as a direct response to those failures.
No 90-year-old should ever be sold a policy that matures in the year 2124. And no family should have to question whether the advice they are receiving is truly in their best interest. That is the promise behind NYVO.
If you are worried that your family may have the wrong insurance, NYVO’s team offers honest, unbiased reviews of existing policies.
Don’t wait for a claim to find out your policy is wrong.
Book a free consultation at nyvo.in/book-a-call.
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