Confederation of Indian Industry (CII) is organizing the 19th edition of its flagship event ‘Insurance Summit’ in Mumbai on 7th August. Through this summit, year after year, CII has been providing the largest platform for an open interaction between the policy-makers and the players in the insurance sector.
Shri T S Vijayan, Chairman, Insurance Regulatory and Development Authority of India (IRDAI) is the Chief Guest and will be delivering Inaugural Address at this all important summit. Shri Hemant Contractor, Chairman, Pension Funds Regulatory and Development Authority (PFRDA) will be addressing the special session on ‘Pensions and Retirement Solutions: Co-habitation of NPS and LI Pensions’.
Other Key Speakers joining the CII 19th Insurance Summit are:
Shri Nilesh Sathe, Member (Life), IRDAI; Mr V K Sharma, Chairman, LIC; Mr Sanjiv Bajaj, Chairman, CII National Committee on Insurance and Pensions & Managing Director, Bajaj Finserv Limited; Mr V Manickam, Secretary General, Life Insurance Council; Mr R Chandrasekaran, Secretary General, General Insurance Council; Mr K Sanath Kumar, Chairman cum Managing Director, National Insurance Company Ltd.; Mr Segar Sampathkumar, Director and General Manager, General Insurance Corporation of India; Mr Joydeep K Roy, Partner and Leader, Insurance and Allied Businesses, PricewaterhouseCoopers Pvt. Ltd.; Mr Tarun Chugh, Managing Director & Chief Executive Officer, Bajaj Allianz Life Insurance Company Ltd.; Ms R M Vishakha, Managing Director & Chief Executive Officer, IndiaFirst Life Insurance Company Ltd.; Mr Sanjiv Bajaj, Vice Chairman, Bajaj Capital Ltd.; Mr Girish Kulkarni, Managing Director & Chief Executive Officer, Star Union Dai-ichi Life Insurance Company Ltd.;Mr Manoj Kumar Jain, Managing Director, Shriram Life Insurance Company Ltd.; Mr Neelesh Garg, Managing Director & CEO, Tata AIG General Insurance Company Ltd.; Mr V Viswanand, Senior Director and Chief Operations Officer, Max Life Insurance Company Ltd.; Mr K S Gopalakrishnan, Managing Director & Chief Executive Officer, Aegon Life Insurance Company Ltd.; Mr Nilesh Shah, Managing Director, Kotak Mahindra Asset Management Company Ltd.; Mr Sudarshan Ramakrishnan, Managing Director, Goldman Sachs (India) Securities Pvt. Ltd.; Ms Renuka Ramnath,Founder – Managing Director and CEO, Multiples Alternate Asset Management Pvt. Ltd.; Mr Sakate Khaitan, Senior Partner, Khaitan Legal Associates; Mr Sudhakar Shanbhag, Chief Investment Officer, Kotak Mahindra Old Mutual Life Insurance Ltd.; Mr G L N Sarma, Managing Director, Hannover Re India Branch; Mr Shankar Garigiparthy, Country Manager & CEO, Lloyd’s India Representative Branch; Mr Tapan Singhel, Managing Director & CEO, Bajaj Allianz General Insurance Company Ltd.; Mr Sanjay Kedia, Country Head & CEO, Marsh India Insurance Brokers Pvt. Ltd.; Mr Balram Bhagat, Chief Executive Officer, UTI Retirement Solutions Ltd.; Mr Sumit Shukla, Chief Executive Officer, HDFC Pension Management Company Ltd.
Apart from the Inaugural Session, following sessions will form part of the summit:
· Reinsurance: Making India a Reinsurance Hub by 2030
· Pensions and Retirement Solutions: Co-habitation of NPS and LI Pensions
· Broadening Investment Horizons: ‘Policyholders’ and ‘Shareholders’ Funds
· Digitisation and Fraud Management
· Deepening Penetration: Simple Products and Low Cost Distribution
CII-PwC report titled ‘Evolving considerations for the Indian Insurance Industry’ focusing on some of above mentioned themes will also be released by the Chief Guest.
Insurance sector contributes not only to the social security needs of the society but also provides the much needed long term capital to the economy. CII too, as an apex industry body, attaches a lot of importance to the development of the Insurance sector and works diligently towards furthering the development of the sector. CII has been providing this platform for industry & policy-makers interactions since the time when the sector was not yet privatized.
On the eve of the summit, Mr Chandrajit Banerjee, Director General, CII said that “Insurance sector has been an integral part of CII’s Developmental Agenda and in this 19th edition of our Insurance Summit, CII is focusing on the current important areas faced by the Indian Insurance Sector which need deliberations both at the industry and Regulator level. The discussions will focus on digitization, the need to have simple transparent products which will help in insuring the uninsured through low cost distribution models, adoption of modern techniques to tackle fraud, and exploring new avenues for risk management, customer engagement, operating models and new avenues for investment of insurance funds”.
He also added that the summit will explore the realms of Reinsurance and possibility of aspiring to make India a Reinsurance Hub in the next decade. Providing the vast Indian population adequate Retirement solutions continues to remain a challenge and an utmost concern for the Regulators and the Government. Even though the Government has floated several schemes to provide for old age security, the coverage remains a concern. The Summit will provide platform for discussions on the matter.
It is the largest policy-advocacy platform in the sector with participation of over 600 delegates comprising senior members from the financial sector, industry, strategists, law firms, consultants etc.
