In Conversation with Shivli Katyayan, Associate Director- Legal-Policybazaar & Group Companies

Shivli, please take us through the formative years of your exceptional journey. What motivated you to study law? How was your first year after college like? 

Thank you for this opportunity. My motivation for doing law came from within my family. There are lawyers in the family, my father being one of them and his journey as a professional has heavily influenced and motivated me. I had an aptitude for the kind of thought process required in the legal profession and took my chance. I was fortunate to qualify and enrol in NUJS. After graduating, I immediately left for my masters and my first-year post-graduation was dedicated to higher learning.  

Do you have any role models in the legal fraternity or outside of it? If so, what impact they have made in your career and how? 

In addition to my father, several individuals, both lawyers and non-lawyers have inspired me. My mother who is a doctor is one of my role models. Her work ethic to fully commit to whatever she is doing it truly remarkable. I am also lucky to share my life with a lawyer. My husband’s discipline towards his work and the ability to see the larger picture while addressing legal issues has definitely moulded my approach towards my career. 

Please give our readers a sneak peek into your job profile. What does a day as Associate Director- Legal- Policybazaar look like? What are your roles and responsibilities? 

My profile involves oversight of the team and all and any legal issues faced by the company. A normal day would involve discussions with the team for progress and problem-solving. Discussions with seniors and Management for strategic initiatives and planning.  

How has COVID impacted the insurance sector? What are the challenges you are currently facing? How do you see the insurance sector changing post the pandemic? 

Covid 19’s impact has been huge on all sectors. Especially in India, where insurance penetration is at 3.7% of the GDP, due to COVID  a lot more people are now aware of the importance of having insurance coverage and have opted for it. All in all, despite the tough situation, this will lead to a positive impact in terms of insurance penetration and more people being insured.  

You had IPR as one of your electives while pursuing your LL.M. You started your career at Anand & Anand with the Trademarks and Copyright team under Mr Safir Anand. How did you transition to a career in the insurance sector? 

While I had exposure to top-notch IPR work at A&A, I could not see myself as an IPR lawyer in the long term. I got an opportunity with Tuli & Co and shifted my focus to insurance.  However, my experience at A&A  has been extremely relevant as an in house counsel and fintech lawyer as it gave a better understanding of how law technology interacts in the fintech space.  

There has been a lot of talk about the needs of lawyers to adapt to technology to keep pace with the changing times. In this context, what are your views on evolving the law itself to keep pace with technology? Have insurance laws and regulations been able to keep up with technology?  

Technology is integral to our lives and it is the way forward. There is no choice but to adapt and keep up with the changing technology. If anything, COVID 19 has clearly established that technology has ensured that things keep moving. A year ago court hearings over VC were unheard of, to the point where they are now a norm. Law itself also will have to continually evolve to adapt to the changing technology.  In sync with the need of the hour, all financial sector regulators (IRDAI/ RBI) have been extremely progressive and notified regulations which facilitate the customer’s requirement by allowing use of technology by processes such as video KYC etc. 

Does standardization of contracts have its own peculiarities when it comes to the heavily regulated Insurance sector? 

Yes, specific requirements prescribed by the insurance regulatory framework need to be ensured. At some places, these may not be in sync with the market practice and therefore processes need to be aligned according to the law. This is equally true of other regulated sectors. 

Would you agree there continues to be an inherent social pressure on women to manage it all—home and work? What are your thoughts on issues of diversity in the legal profession?

Yes, I do agree that there is more social pressure on women. This is so inherent in the fabric of our society that moving away from this thought is going to be a long-drawn-out process. That being said, not everything is bleak. The very fact that I am here today, having this conversation with you speaks for itself. We are now seeing far more diversity in the courts, firms and in house teams than we ever did before and for me, that is very encouraging. 

The World Economic Forum’s report on Reskilling Revolution emphasizes on the critical and widespread need to reskill and upskill. In this context, what are the biggest challenges for lawyers in the coming 5 years? What role do you see AI & Automation playing in shaping the in-house corporate departments of the future? Do you see more T-shaped lawyers in the future?

I believe, that in the future both products and services will be heavily dependent on technology. This therefore directly affects the terms of the underlying contracts. Therefore, a lawyer would need to understand the technology and its impact intrinsically, in order to analyse and address their client’s requirements. As a result all inhouse departments may see more standardization and perhaps more litigation. Needless to say, T-shaped lawyers will be the norm for most commercial areas. 

How did your team at Policybazaar respond to Covid19? What are some of the operational issues in-house company law departments are facing today because of the pandemic? What do in house legal departments of the future look like? From LMS to document management systems. Is there a tech toolkit every company can adopt?  

The DNA at Policybazaar Group is technology/digital. Therefore, our transition to working from home was near seamless. Yes, there were operational issues such as execution of documents, but we adapted to the situation as did our partners. While adapting to VC conferences, meetings took some time, it has now become part of BAU. This also opens up the possibility of the working remotely as a permanent option.  

Tell us about your hobbies. What are your sources of creative outlet other than work? Any movies, work of art or books that have had a profound impact in shaping your personality? 

I am trained in Hindustani classical vocal and music is what keeps me going.  I also love reading fiction and at any point in time I am reading at least 2 books! 

Many Congratulations on joining the BW Legal World Elite 40 Under 40 Club of Achievers 2020. What to your mind has helped you get to where you are and what advice would you have for others who want to achieve success in the legal profession?  

Thank you, its an honour to have made it to this list. I strongly believe that for any professional, it is necessary to understand that their journey is not a short sprint but more like a marathon, and so it is important to pace ourselves. Doing the job right is what matters and if you get recognized for it, it’s a bonus. Most importantly, working hard always pays. As a lawyer, one must learn, every day. It should never stop. 

*interviewed in November 2020

Nominations for the second edition of BW Legal World's 40Under40 are now open.

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