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Lilit Shmavonyan has extensive work experience in the insurance industry. Lilit began their career at Cascade Insurance in 2007, where they served as the Head of the Underwriting Department until 2012. Lilit then joined Ingo Armenia ICJSC as the Head of the Corporate Customers Service Department, a role they held for seven years until 2019. Following this, they joined INGO ARMENIA Insurance CJSC, initially leading the Corporate Sales Department and later being promoted to Deputy CEO. Currently, Lilit is the Deputy Chief Executive Officer at EFES Insurance.

Lilit Shmavonyan obtained their PhD in Insurance from the Armenian State University of Economics, completing their studies between 1997 and 2005. Additionally, they received a Certificate in CII from the Chartered Insurance Institute, where they studied from 2008 to 2010.