Avantika Ahuja (Intern) 21 September 2012

6th Global Insurance summit : Finding the God Particle In the Insurance Industry

Insurance is the most effective risk mitigation mechanism to reduce the vulnerability of people exposed to risk of dying too early & non- access to basic healthcare facilities. People at the bottom of the pyramid are by far more vulnerable than comparatively more prosperous population. Policy initiatives and bold reforms in insurance sector are prerequisite and precursor for reforms in social security, health care system and financial markets.

India, being the second most populous country with the largest chunk of poor population globally, made significant needle movement in the past five years , making a visible difference to the unprivileged population. But a lot more can be done in terms of technological innovation and integration, and meaningfully including the unbanked but ‘bankable’ population of India, to make that big leap forward. And this essentially needs to be a ‘bottom up approach.’

With an objective to discuss various key contemporary and regulatory issues for robust development in furthering Financial Inclusion & Microinsurance Industry and exploring the elusive “‘God’ particle”- so indispensable for deepening the Insurance Industry, ASSOCHAM is organizing the “6th Global Insurance Summit – Finding the God Particle on September 24th – 25th, 2012 at Hotel The Taj Mahal palace, Mumbai.

Key Issues:

• Micro Insurance and Financial Inclusion - Challenges & Opportunities

• Developing Sustainable Micro Insurance

• Product Innovation to expand market and pricing

• Technology and UID to drive Insurance products distribution and competitive pricing

• Customer Insight and Product Innovation

• Penetration of Health & Allied Products in Rural Areas

• Claims Management - Cost & Peril Mitigation

• Policy Perspective and Regulatory Issues in the Insurance Sector

• Reinsurance - Emerging Trends

The aim of this Summit is:

• To identify the reasons that Micro Insurance sector has not shown the growth despite government promoting the same.

• Analysis of the existing financial product and innovation of new products that will be used in serving the lowest segment of the society by Insurance players

• To seek for the possible reforms required in government policies to promote this sector by insurance company.

• Increasing the scope of insurance with respect to age profile and geographical limits.

• Global case studies compatible to Indian Growth Story

• Sync between the regulator and market needs

Eminent Speakers

Mr. S. Roy Chowdhury, Member-Life, IRDA

Mr. M. Ramprasad, Member-Non Life, IRDA

Dr. P. Nandagopal, MD & CEO, IndiaFirst Life Insurance Co. Ltd.

Mr. A. R. Sekar, CMD, The New India Assurance Co. Ltd.

Mr. G. Srinivasan, CMD, United India Insurance Co. Ltd.

Mr. Ksh*tij Anand, Head of International Strategy,AON Benfield, LONDON

Mr. R. Chandrasekhar, SG, General Insurance Council