Insurance Sector - Institute Interface

The much awaited “ Insurance Sector - Institute Interface” commenced with great fanfare. The deliberations were presided over by Dr. Somdev, Professor, EAFM department, University of Rajasthan. The discussions brought home the fact that the growth potential of the sector was far from saturated. In a country like India where only 70 million people have insured themselves, 230 million people  still remain uninsured offering exciting expansion and employment possibilities in the  sector.

Addressing the august gathering, Mr. Sandeep Sharma, Associate Partner, Max New York Life, presented an in-depth analysis of the growth opportunities in the insurance sector and discussed significant  benefits that can be availed by  holding Insurance Policies. Mr. Nirlipt Singh, Branch Manager Aviva Life Insurance provided an insight into the future of private life insurance companies in India stressing upon the need to tap the latent demand for insurance cover in the rural markets. He overwhelmed the audience by informing them that the private players in the insurance sector have achieved approximately 150% growth in profits during the recent years.

Mr. Gajendra Singh from HDFC Life Insurance enriched the interaction through his inputs on the role of private sector companies in the insurance industry. Giving the deliberations a technical turn, Mr. Sanjay Kaul, Agency Incharge, ING Vysya Life Insurance skillfully explained  the calculations involved in determining  insurance cover.

Mr. Prashant Rathi, Sales Manager, Max New York Life talked at great length about various products offered by insurance companies .He also discussed the role and  potential of actuaries.  

The interface entered its most interesting phase with the beginning of the  interactive session on the current scenario of insurance sector during which the speakers answered various intriguing questions posed by the participants. 

The workshop was focused on analyzing the role of private players in of insurance sector and the huge potential that lies ahead.