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Insurance Institute of India

Special Report on Diamond Jubilee Celebration and 60th Annual Conference

Hotel Taj Mahal Palace, Mumbai 26th – 27th August, 2015

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T Diamond Jubilee Celebrations

International Seminar on Moving Beyond Mainstream Insurance

On the occasion of The Diamond Jubilee Celebrations the Insurance Institute of India had organized an International Seminar on the theme ‘Moving Beyond Mainstream Insurance’ on 26th August, 2015 at The Taj Mahal Palace, Mumbai.

Inaugural Session

The seminar was inaugurated by Shri A. K. Roy, President, Insurance Institute of India. Shri P. Venugopal, Secretary-General, Insurance Institute of India welcomed the dignitaries. In his welcome address he informed about the seminars and activities conducted as a part of the diamond jubilee celebrations. Inaugural Address Shri A.K. Roy, President, extended a warm welcome to all the dignitaries. He mentioned that III is committed to spreading insurance education in India and overseas. It is also transforming itself with the changing times.

He also informed that in the seminar the speakers would be talking about insurance for the poor, ways to bring them in the insurance bracket and the kind of activities that should be involved. He also mentioned about the initiatives of the Govt. of India in spreading insurance network among the masses, about the technology innovations that are bringing down the cost of delivery of micro insurance products at an acceptable cost to the people who need it. Insurance practitioners need to seriously think upon the innovations in product and service delivery systems for making micro insurance a great success in India. Seminar Proceedings Dr. Syed Ahsan, Visiting Faculty, South Asian University made a presentation on delivery and inclusivity in regulation in Microinsurance. Mr. Sabbir Patel, Sr. VP, Emerging markets, ICMIF made a presentation on mutual insurance. Dr. Muhammad Mamun, Professor, Institute of Business Administration, Bangladesh discussed problems and prospects of insurance business in Bangladesh. Mr. G. N. Agarwal, Chief Actuary, Future Generali India Life Insurance Co. Ltd. discussed on Life insurance development in the Indian Insurance industry. Mr. Mohit Rochlani, Director – Operations & IT, IndiaFirst Life Insurance Co. Ltd. focused on the scheme ‘Pradhan Mantri Jeevan Jyoti Yojana’, digitalization in insurance and new market opportunities.Mr. Anuj Tyagi, Head Corporate, Rural and Agri Business, HDFC ERGO General Insurance Co. Ltd. deliberated on Micro insurance regulations in India. Mr. Kumar Shailabh, CEO, UPLIFT made a presentation on securing futures through risk management and risk minimization of poor people.

Around 250 participants from the corporate sector attended the seminar.

PRESIDENTIAL ADDRESS BY SHRI A. K. ROY, PRESIDENT, III WELCOME ADDRESS BY SHRI P. VENUGOPAL, SECRETARY – GENERAL, III

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SPEAKER’S AT THE SEMINAR Q AND A SESSION

Closing Ceremony

In the closing ceremony of Diamond Jubilee Celebrations Shri A.K. Roy, President, Insurance Institute of India extended a warm welcome to all the dignitaries.

Shri Devendra Fadnavis, Chief Minister of Maharashtra, congratulated III for the successfull completion of 60 years in insurance education and training. He mentioned that III has to play a vital role for the insurance industry to perform a big task ahead to improve insurance penetration in India. III has a big role to play in transforming the huge population to help the country grow at a larger pace. He also informed about the pilot project for insuring individual farmers to assess losses at village level and also at the individual farmer’s level. He said that he is happy to know that III is partnering with Universities, Disaster Management Institutes of India and other premier institutes which will help III to expand more in its coming years by providing human resource in every sector of risk management.

Shri M. Hamid Ansari, Vice President of India expressed his pleasure in being present on the occasion of the 60th year of III. He congratulated III for celebrating 60 years in insurance education and training. He also mentioned that in the last 60 years III has grown into a professional body serving the cause of the insurance industry by promoting insurance education by way of conducting examination, training programs and conducting research.

He also mentioned that insurance can mitigate the economic impact of events like illness, death, disability, fire, theft and natural disasters on individuals, households or enterprises. Insurance can help people avoid destitution, regularize their consumption, protect their assets and allow them to pursue their economic activities and make investments. Insurance is a very useful strategy on continuing of risk management options. The government should ensure that poor households should have the access to insurance services in India.

He also mentioned that there is a need to reduce the level of actuarial premium rates to make insurance attractive and affordable to the poor people. The Govt. of India has created a policy to promote financial inclusion and extend insurance cover to the poor through its schemes such as the Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Suraksha Bima Yojana and the Pradhan Mantri Jeeven Jyoti Bima Yojana.

He said that for financial inclusion to succeed it must evolve from being a social or regulatory obligation to a viable business preposition. The need is to employ emerging technologies, general awareness by increased financial education of masses and move beyond the traditional products to shift from a cost centric model to a win win revenue generating model that will provide quality and financial services on a sustainable basis to the economically disadvantaged. He was confident that III will continue to play an important in this endeavor.

Hon’able Governor of Maharashtra, Shri Ch. Vidya Sagar Rao was also invited to the Diamond Jubilee Celebrations.

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SHRI DEVENDRA FADNAVIS, CM OF MAHARASHTRA SHRI M. HAMID ANSARI, VP OF INDIA

60th Annual Conference

The 60th Annual Conference of Insurance Institute of India was held on 27th August, 2015 at The Taj Mahal Palace, Mumbai.

Inaugural Session

The Conference was inaugurated by Shri A. K. Roy, President, Insurance Institute of India. Shri M. Raghavendra, Deputy Chairman (Board of Education), III, Shri P. Venugopal, Secretary-General, III and Shri Arinadam Mukherjee, Director, College of Insurance were present at the inaugural session.

Shri P. Venugopal, Secretary-General, Insurance Institute of India gave the welcome address to all the dignitaries. In his welcome address he briefed about the activities and achievements of III and it’s associated institutes, seminars and activities conducted as a part of diamond jubilee celebrations.

Shri M. Raghavendra, Deputy Chairman (BOE), III addressed that III is moving towards professional advancement over the years. He also mentioned that associated institutes should be actively involved in the insurance awareness activities conducted by III. III should work as a representative body of the insurance industry by way of not only actively involved in education but also dissect the regulations minutely and give the comments/feedback over it to IRDAI and other authorities from time to time in order to serve the industry better. III should work as a repository of insurance industry in coming days.

Presidential Address Shri A. K. Roy, President, III in his Presidential address extended a warm welcome to all the invitees. He spoke about the events organized by III throughout the year on the accession of the diamond jubilee celebrations. He also mentioned about the activities and achievements of III. He appealed to the representatives of associated institutes that they should take active participation in the various activities of III to spread insurance awareness in the country as they are the backbone of the III.

He also mentioned that few initiatives of the Government of India are driving insurance penetration into rural masses in a big way and this was just the beginning. If we involve ourselves more in insurance awareness programs, we can transform the insurance landscape in India, which is a very challenging job. He also mentioned that the institute has a much bigger role to play in the coming years. The road ahead is full of challenges and opportunities. With the help and support of associated institutes and stake holders; III will achieve greater heights in the days to come.

Shri Arindam Mukherjee, Director, COI addressed that COI has entered into its 50th year. He mentioned about the training programs conducted by COI and the efforts to reach out globally.

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SHRI A. K. ROY, PRESIDENT, III DELIVERING PRESIDENTIAL ADDRESS

SHRI M. RAGHAVENDRA, DY. CHAIRMAN (BOE), III DELIVERING SPEECH

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SHRI P. VENUGOPAL, SECRETARY-GENERAL, III DELIVERING WELCOME ADDRESS

SHRI ARINDAM MUKHERJEE, DIRECTOR, COI DELIVERING HIS SPEECH

Prize Winners Essay Writing Competition Winners

S.K. Desai Memorial Essay Writing Competition

Name Member Of Topic

Nirjhar Majumdar Indian Insurance Institute Insurance Awareness: Necessary Pre-condition for further growth of life insurance industry of India

D. Subrahmanian Award Essay Writing Competition

Name Member Of Topic

Vijay Dwibhashi Mumbai Insurance Institute Social media weds Indian Insurance The Next Big Disruption or a budging bubble?

Technical Paper Essay Writing Competition (Life Branch)

Name Member Of Topic

Ravindra R. Muley Mumbai Insurance Institute Digital Distribution Strategies for Life Insurance

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Technical Paper Essay Writing Competition(General Branch)

Name Member Of Topic

Venkatesh Ganapathy

Mumbai Insurance Institute Nuclear Risk Insurance Covers in India – A Possibility

Technical Paper Essay Writing Competition (Health Branch)

Name Member Of Topic

Mrunal S. Pandit Ahmedabad Insurance Institute

Universal Health Insurance – Will this meet the expectations of Affordable Care to all Citizens?

Prize Winner – Nirjhar Majumdar

Prize Winner – Vijay Dwibhashi

Prize Winner – Ravindra Muley Prize Winner – Venkatesh Ganapathy

Prize Winner - Mrunal Pandit

Prize Winners of Thematic Papers as a part of Diamond Jubilee Celebrations of III

Sr.No. Theme Paper Title Prize Winner

1. Connecting to Customers: do we need a Paradigm Shift

Connecting to Customers: Is there a need for a paradigm shift in the transaction of Insurance business?

Venkatesh Ganapathy

2. What people want from the Insurance Industry – an empirical study?

Issues and Challenges in Health Insurance in India

Dr. Harinder Singh & Dr. Amandeep Kaur

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Prize winner – Venkatesh Ganapathy Prize winner – Harinder Singh and Amandeep Kaur

Best Institute Sr. No.

Institute Name Honorary Secretary

1 Indian Insurance Institute, Kolkata Mr. Nabarun Halder

2 Ernakulam Insurance Institute Mr. John Mathew

3 Indian Insurance Society, Kolkata Mr. Samir Kumar Chatterjee

4 Calicut Insurance Institute Mr. K Vijaya chandran

5 Pondicherry Insurance Institute Mr. K Narayanasamy

6 Bikaner Insurance Institute Mr. Rakesh Kumar Joshi

Prize Winner-Indian Ins Inst Prize Winner- Ernakulam Ins Inst Prize Winner –Indian Ins Soc.

Prize Winner- Calicut Ins Inst Prize Winner – Pondicherry Ins

Inst Prize Winner- Bikaner Ins Inst

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Life Membership Prize Winners Sr. No.

Institute Name Honorary Secretary

1 Indian Insurance Institute Mr. Nabarun Halder

2 Mumbai Insurance Institute Mr. Vidyadhar G. Salvi

3 Delhi Insurance Institute Mr. Rohtash Sharma

4 Bangalore Insurance Institute Mr. B.C.Srinath

5 Hyderabad Insurance Institute Mr. V.Raghu Venkata Prasad

6 Pune Insurance Institute Mr. N.R.Hariharan

7 Indian Insurance Society Mr. Samir Kumar Chatterjee

8 Rajkot Insurance Institute Mr. Apurva Popat

Professional Examination Prize Winners Sr. No. Candidate Name Subject Associated Institute

Session 1

1 Kishore Kumar B Full Examination - Associateship Mumbai Insurance Institute

2 Kishore Kumar B (24) Legal Aspects of Life Assurance Mumbai Insurance Institute

3 Aniruddha Pujari Full Examination - Fellowship Pune Insurance Institute

4 Aniruddha Pujari (22) Life Assurance Underwriting Pune Insurance Institute

5 Aniruddha Pujari (28) Foundation of Actuarial Science Pune Insurance Institute

6 Aniruddha Pujari (46) General Insurance Accounts and

Regulation of Investment Pune Insurance Institute

7 Aniruddha Pujari (92) Actuarial Aspects of Product

Development Pune Insurance Institute

8 Aniruddha Pujari (99) Asset Management Pune Insurance Institute

9 Arindam Dakua (A-01) Foundation of Casualty Actuarial

Science-Part-I Mumbai Insurance Institute

10 Jimit Jugal Boda (A-01) Foundation of Casualty Actuarial

Science-Part-I Mumbai Insurance Institute

11 Parija Priyanka (36) Health Insurance Claims Delhi Insurance Institute

12 Pravin Niranjan (27) Health Insurance Jamshedpur Insurance Institute

13 Shravan Kumar (47) Foundation of Casualty Actuarial

Science-Part-I Delhi Insurance Institute

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14 Sonali Jagannath

Salgaonkar

(69) Marine Insurance Rating and

Underwriting Mumbai Insurance Institute

15 Suresh Kumar Sharma (72) Motor Insurance Jalandhar Insurance Institute

Session 2

16 Sourav Sharma Full Examination - Associateship Udaipur Insurance Institute

17 Sourav Sharma (36) Health Insurance Claims Udaipur Insurance Institute

18 Maneesh Kumar Singh Full Examination - Fellowship Indian Insurance Institute

19 Debjit Banerjee (85) Reinsurance Lucknow Insurance Institute

20 Deepak Kumar (88) Marketing and Public Relations Varanasi Insurance Institute

21 Gaurav Mittal (74) Liability Insurance Hyderabad Insurance Institute

22 Gokana Narasimha

Rao (37) Health Insurance Operations Guntur Insurance Institute

23 Hemang Alkesh kumar

Shah (89) Management Accounting Vadodara Insurance Institute

24 Indu Bala (67) Marine Insurance Chandigarh Insurance Institute

25 Lata Purushottam Bhat (78) Miscellaneous Insurance Mumbai Insurance Institute

26 Om Prakash Prasad (46) General Insurance Accounts

and Regulation of Investment Bramhapur Insurance Institute

27 Parwaiz Ahmad Najar (A-01) Foundation of Casualty

Actuarial Science-Part-I Srinagar Insurance Institute

28 Preyash Bansi kumar

Thakkar (27) Health Insurance Vadodara Insurance Institute

29 Ramakanta Bhutia (26) Life Assurance Finance Indian Insurance Institute

30 Rashmi Manish

Chaurasia (72) Motor Insurance Mumbai Insurance Institute

31 Sushil Singh (71) Agriculture Insurance Andaman Insurance Institute

32 Sweta Deepak Doshi (22) Life Assurance Underwriting Mumbai Insurance Institute

33 Vivek Sunia (47) Foundation of Casualty

Actuarial Science-Part-I Jaipur Insurance Institute

Prizes Sponsored by Insurance Brokers Association of India

34 Kishore Kumar B Full Examination - Associateship

(Session 1) Mumbai Insurance Institute

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Prizes Sponsored by Marsh India Insurance Brokers Pvt.Ltd.

35 Kishore Kumar B Full Examination - Associateship

(Session 1) Mumbai Insurance Institute

36 Indu Bala (67) Marine Insurance Chandigarh Insurance Institute

37 Gaurav Mittal (74) Liability Insurance Hyderabad Insurance Institute

38 Debjit Banerjee (85) Reinsurance Lucknow Insurance Institute

Live Webcast Insurance Institute of India live webcasting of the inaugural event of Annual Conference was done by the Institute. Total 329 people viewed the live webcast.