CSAA Insurance Group, a AAA Insurer, recently named Sanjiv Parikh as the company’s new corporate venture capital executive.
In this newly created role, Parikh will be responsible for implementing a corporate capital investing program to derive strategic insights; developing a portfolio of disruptive growth concepts outside of CSAA Insurance Group’s core business; and establishing the company’s presence in Silicon Valley. To help build capabilities around disruptive innovation, Parikh also will create a lab where CSAA Insurance Group can partner with startups, experiment with emerging technologies, test new venture concepts and launch commercial pilots.
“This is an exciting time at CSAA Insurance Group, as the company is focused on accelerating innovation capabilities and creating new business development opportunities,” said Parikh. “Through corporate venture capital investments, I look forward to deepening these efforts, supporting strategic growth and helping improve the customer experience for AAA members.”
With over 25 years of experience in driving corporate growth and leveraging external innovation through acquisition, business development and venture capital investments, Parikh has expertise in establishing new entities, go-to-market, and building teams across multiple domains. Most recently, Parikh was vice president of business and corporate development at SK Telecom where he was responsible for driving growth in North America and leading the investment, acquisition and management of companies across many sectors. Prior to SK Telecom, Parikh held corporate growth and venture capital executive roles at several companies, including HTC, Hewlett-Packard and Microsoft.
“Engaging with the Silicon Valley ecosystem and investing in startups are critical ways for us to increase relevance to AAA members,” said Debbie Brackeen, chief strategy and innovation officer. “Sanjiv’s expertise in these key areas will help us remain competitive and ultimately better serve customers.”
Parikh earned his M.B.A. at The Wharton School of the University of Pennsylvania, and his B.S. in Mechanical Engineering from the University of California, Berkeley. With an extensive network within the innovation community, he is also a frequent speaker at entrepreneur, innovation, and venture community conferences and events.
About CSAA Insurance Group
CSAA Insurance Group, a AAA Insurer, offers automobile, homeowners, and other personal lines of insurance to AAA members through AAA clubs in 23 states and the District of Columbia. Founded in 1914, CSAA Insurance Group has been rated “A” or better by A.M. Best for 90 years and is one of the top personal lines property casualty insurance groups in the United States, according to the National Association of Insurance Commissioners. The company has been repeatedly named one of the 50 most community-minded companies in America by Points of Light.