Kingshott, who joined Saga in November 2021, is responsible for driving Saga’s insurance strategy, optimising sales, delivering customer service and broadening the range of new products. He will join the board on 3 January.
Roger De Haan, chair of Saga, said: "Steve has made a significant impact since he joined Saga and we are delighted that he is now joining the main board."
The move comes after former Saga Holidays managing director and chief executive Chris Simmonds was promoted to chief executive of National Holidays and Just Go! Holidays parent JG Travel Group, replacing Andy Freeth.
The brand also recently announced plans to disrupt the over-50s travel market with a new Tailor-Made Travel by Saga product line and range of "experienced gap years" for senior travellers.
