Addressing the challenges faced by the Indian economy and Insurance sector
Mumbai, 23 September 2015: The Indian life insurance sector is likely to grow between 12-15% in financial year 2015 -16 and will be marked with much increased reach, premiums and density. The 2nd Annual Insurance Summit, organized by ETEdge, highlighted this and various other trends Indian insurance sector is set to observe.
The summit gathered leaders from insurance industry to contemplate on relevant topics such as policy & regulatory changes, insurance in financial inclusion, technology and consumer awareness strategies.Acknowledging India’s growth story and insuring the nation, Chief Guest said,”quote”
Aligning industry offerings with industry requirements is the need of the hour today. Commenting on the technological advances and potential of the sector, Panelist said, ”quote”
The Summit also discussed the challenges and scope of the two major categories of Insurance – General and Life Insurance. Sandeep Bakhshi, CEO, ICICI Prudential Life Insurance highlighted, ”quote”. On the other hand, Bhaskar J Sarma, MD & CEO, SBI General Insurance opined, ”quote”.
It is imperative to understand whether the initiative of IRDAI on Insurance Repositories is a benefit to the entire insurance eco system of policy holders, intermediaries, insurers and IRDAI. Anuj Agarwal , MD & CEO, Bajaj Allianz Life Insurancesaid, ”quote”. Sandeep Patel, CEO, Cigna TTK Health Insurance, commented on the amendment act being an encouragement to the health insurance industry, ”quote”.
Concluding this successful event, Mr. Deepak Lamba, President, TCL – BCCL said, “ETEdge, over decades has connected with consumers at different levels while being an inherent part of the India growth story. We do acknowledge that as the country grows along with its diversified assets, there will be a strong need of not just protectingthese assets but instill a process of resurfacing without losses. In this respect, insuring people, resources and assets will become a crucial tool.”
ET Edge, is an Economic Times initiative founded to empower multiple industries and segments by sharing critical business knowledge through strategic conferences and summits.
