S P E C I A L I S S U E

Transcription

1 SPECIAL ISSUE 61 ST ANNUAL CONFERENCE The 61 st Annual Conference & 119 th Council Meeting of the Insurance Institute of India was held on 20 th & 21 st August, 2016 at Ernakulam under the auspices of Ernakulum Insurance Institute. INAUGURAL SESSION The conference was inaugurated by Shri Mathew Varghese, Former Member IRDAI. Shri V.K. Sharma, President of Insurance Institute of India and Managing Director of LIC of India presided over the conference. Other important dignitaries present at the inaugural session were Mr. G. Srinivasan, CMD, New India Assurance Co. Ltd., Shri K. Sanath Kumar, CMD, National Insurance Company Ltd., Ms. Alice Vaidyan, CMD, GIC of India. Mr. A. Hoda, CMD (Officiating), United India Insurance Co. Ltd., The Chairman of Ernakulam Insurance Institute, Shri A Soosai Manickam extended a warm welcome to all the dignitaries. The conference was inaugurated by lighting the traditional lamp by Mr. Mathew Varghese and other dignitaries. After the lighting of the lamp, prayer was offered by the team of Ernakulam Insurance Institute. Mathew Varghese, Chief Guest V.K. Sharma, President of III G. Srinivasan, CMD of New India K Sanath Kumar, CMD of National Ins. A. Hoda, CMD of United India Alice Vaidyan, CMD of GIC Re P. Venugopal, Secretary-General Mr. V K Sharma, President of III and Managing Director of LIC of India in his opening address complemented Ernakulam Insurance Institute for hosting the Annual Conference and Council Meeting and also for their Golden jubilee year. He also complemented Insurance Institute of India for effective use of technology by revamping its website and portal. The use of web portal in the examination system which has proved to be very much beneficial for the candidates who register and appear for our Examinations, procure study materials and get result etc. which has helped in increasing the efficiency. He further informed that due to the decent Insurance education and examination methodology established by the Insurance Institute of India, IRDAI has engaged Insurance Institute of India to develop course content, conduct pre-recruitment test for Insurance Agents and pre-licensing exam for 1 P a g e

2 surveyors, as a training body for pre-renewal licensing for Brokers, Insurance Marketing Firms (IMF), Corporate Agents and to conduct exam for PO/SPs of Corporate Agents. He briefed about the future plans of Insurance Institute of India/ College of Insurance and informed that the Institute will be converting all the remaining examination under the on-line MCQ format by June He expressed his happiness to share with the gathering that the Institute will be soon signing a MOU with the Financial Regulatory Department of Myanmar to help them set up an Insurance Institute in Myanmar. Mr G Srinivasan, CMD of The New India Assurance Co. Ltd. said that we are not seeing new talent in the industry and we need fresh talent to efficiently run the industry. He urged the industry to rebrand itself in order to attract young talent and called for the inclusion of insurance as a subject in schools and colleges across the country. Ms Alice Vaidyan, CMD of GIC Re, highlighting the immense contribution of III in popularising insurance studies in India. She also said that the Institute can play a key role in developing more focused education and training resources on emerging risks and must look at using technology as an enabler and multiplying the reach of insurance education. Mr K Sanath Kumar, CMD of National Insurance Co. Ltd. spoke about the trust deficit that exists in the insurance market which is hindering rapid expansion of the industry. He also said that there was a need for serious introspection as to why the public is staying away from buying insurance products in spite of seeing major disasters like the Chennai floods in 2015, which caused massive economic losses and loss of lives. Mr A Hoda, CMD (Officiating) of United India Insurance Co. Ltd said that the Insurance Industry is growing at a good pace. The Insurance Institute of India has to play a major role in developing Insurance education, so that the penetration in the General Insurance Industry grows. It has done yeoman service by imparting basic education to Insurance personals in the Country. The Chief Guest Mr. Mathew Varghese in his inaugural address thanked the Insurance Institute of India and Ernakulam Insurance Institute. He said that he was privileged to be one of the member in the Board of Education of III in the past and considered to be an honor to be at the function. He informed that the Indian Insurance market has been very vibrant and dynamic from the time of liberalization of the Insurance Industry, and IRDA has been able to very quickly adapt to those changes, with introduction of fresh Regulations from time to time. Regulations for training and examination of agents and brokers, allowing Banks to work with more than one insurance company, introduction of new types of intermediaries, digitalization of policies, regulations for health insurance companies, Unit linked Insurance etc. are a few worth mentioning. The recent amendments to the Insurance act, has given more powers to the Indian Insurance Regulator in framing regulations. 2 P a g e

3 He concluded his speech by reiterating the contribution made by the Insurance Institute of India to the knowledge levels in the insurance industry and financial sector. As industry grows, requirement of welltrained man power will also increase. Therefore, Insurance Institute of India must suggest ways and play a vital role in making it more relevant to the changing market. More than 200 participants from the corporate sectors attended the Conference. From Overseas Mr. Thusitha Nandasiri, President and Mr. Pubudu Wimalaratne, Vice President, The Sri Lanka Insurance Institute; Mr. Namgyal Lhendup, CEO, Royal Insurance Corporation of Bhutan attended the conference as Special Guests. A logo prepared by the Ernakulam Insurance Institute on the occasion of their Golden Jubilee was released by the President, Mr. V.K. Sharma. Thereafter the President, gave away the prizes to the winners of different competitions. ESSAY WRITING COMPETITION WINNERS S.K. DESAI MEMORIAL ESSAY WRITING COMPETITION VEENA KHAN BHOPAL INSURANCE INSTITUTE SILVER-YEARS MARKET: A GOLDMINE D. SUBRAHMANIAN AWARD ESSAY WRITING COMPETITION S GHOSH HAZARIBAGH INSURANCE INSTITUTE "FASAL BIMA YOJANA 2016-SOME THOUGHTS ON INDUCTING NON- LOANEE FARMERS AS INSURED" TECHNICAL PAPER ESSAY WRITING COMPETITION (LIFE BRANCH) RAVINDRA R MULEY MUMBAI INSURANCE INSTITUTE IMPACTS OF THE NEW REGULATIONS IN INDIAN LIFE INSURANCE CHALLENGES AND RESPONSES TECHNICAL PAPER ESSAY WRITING COMPETITION (GENERAL BRANCH) SAYED ZIAALI FRAUDULENT CLAIMS A CASE FOR MUMBAI INSURANCE INSTITUTE RIZVI ENHANCED DETERRENCE TECHNICAL PAPER ESSAY WRITING COMPETITION (HEALTH BRANCH) JOY JOTI HORE INDIAN INSURANCE INSTITUTE LONG TERM CARE INSURANCE A CASE FOR INDIA 3 P a g e

4 TECHNICAL PAPER ESSAY WRITING COMPETITION (MICRO BRANCH) ANABIL BHATTACHARYA INDIAN INSURANCE SOCIETY COMMUNITY BASED MICRO INSURANCE THE INDIAN CONTEXT VEENA KHAN S GHOSE RAVINDRA MULEY PRESENTATION OF ESSAY WINNERS SAYED ZIAALI RIZVI JOY JYOTI HORE ANABIL BHATTACHARYA BEST INSTITUTE INSTITUTE NAME Bangalore Insurance Institute Indian Insurance Society Chandigarh Insurance Institute Calicut Insurance Institute Mysore Insurance Institute Rajahmundry Insurance Institute Bikaner Insurance Institute HON SECRETARY Shri B C Srinath Shri Sameer Kumar Chatterjee Shri Surender Pal Shri K Vijayachandran Shri S Sridhara Shri M Kodanda Ram Shri Rakesh Kumar Joshi PRIZE WINNERS OF BEST INSTITUTE BANGALORE INS INST INDIAN INS SOCIETY CHANDIGARH INS INST CALICUT INS INST MYSORE INS INST RAJAHMUNDRY INS INST BIKANER INS INST LIFE MEMBERSHIP PRIZES INSTITUTE NAME Indian Insurance Institute Delhi Insurance Institute Mumbai Insurance Institute Bangalore Insurance Institute Hyderabad Insurance Institute Pune Insurance Institute HON SECRETARY Shri NabarunHalder Shri Rohtash Sharma Shri Vidyadhar G Salvi Shri B C Srinath Shri V Raghu Venkata Prasad Shri N.R.Hariharan 4 P a g e

5 Indian Insurance Society Ahmedabad Insurance Institute Chandigarh Insurance Institute Pondicherry Insurance Institute Guwahati Insurance Institute Shri Sameer Kumar Chatterjee Shri Nilesh Parikh Shri Surender Pal Shri K Narayanasamy Shri Babul Kumar Nag PROFESSIONAL EXAMINATION PRIZE WINNERS INSURANCE INSTITUTE OF INDIA - PRIZE WINNERS OF SESSION 1 & 2 OF 2015 Full Examination Registration Id Name of the Candidate Examination Exam Prize Amount ANKUSH SALHOTRA Fellowship Session 1 7,500/ SHALLY GUPTA Fellowship Session 2 7,500/ SHALLY GUPTA Associateship Session 1 5,000/ S BHUVANESWARI Associateship Session 2 5,000/ ROUSHAN KUMAR Licentiate Session 1 3,000/ ARUNA GUPTA Licentiate Session 2 3,000/ BATCH GIC DIRECT RECRUIT OFFICERS (GIC DRO) Registration Id Name Examination Prize Amount No candidate eligible as per criteria Specialized Diploma in Fire Insurance MR. RAMMURTHI BUDDHA Specialized Diploma in Marine Insurance 10,000/ MR. MAMCHAND GAURI Specialized Diploma in Health Insurance 10,000/- INSURANCE BROKERS ASSOCIATION OF INDIA (IBAI) Registration Id Name Examination Prize Amount MS. SHALLY GUPTA Fellowship 25,000/ MR. VIVEK SHRIVASTVA Fellowship 12,500/ MR. AMAR GUPTA Fellowship 12,500/ MS. SHALLY GUPTA Associateship 15,000/ MR. YESHU GUPTA Associateship 15,000/- MARSH INDIA INSURANCE BROKERS PVT. LTD. Full Examination Registration Id Name of the Candidate Examination Session Prize Amount MS. SHALLY GUPTA Associateship Jan - June 50,000/ MS. S.BHUVANESWARI Associateship Jul - Dec 50,000/- 5 P a g e

6 Subject wise Prize Winners for Session 1 (i.e.jan-june2015) Registration Id Name Subject ID & Name Prize Amount MS. NEHA GUPTA (IC-67) Marine Insurance 25,000/ MS. SHALLY GUPTA (IC-67) Marine Insurance 25,000/ MS. SHEELA YADAV (IC-74) Liability Insurance 25,000/ MR. INDER KRISHEN KANDROO (IC-85) Reinsurance 25,000/ MS. SUPRIYA KAPSE (IC-85) Reinsurance 25,000/ MS. LATA PURUSHOTTAM BHAT (IC-86) Risk Management 25,000/- Subject wise Prize Winners for Session 2 (i.e.jul-dec2015) Registration Id Name Subject ID & Name Prize Amount MR. RISIKES (IC-67) Marine Insurance 25,000/ MS. SANGEETHA (IC-74) Liability Insurance 25,000/ MR. SOURAV BANERJEE (IC-74) Liability Insurance 25,000/ MR. PREYASH BANSIKUMAR THAKKAR (IC-85) Reinsurance 25,000/ MR. MUKTHIAR SINGH SAMROW (IC-85) Reinsurance 25,000/ MS. KIRIT RAMBHAI CHHELANA (IC-86) Risk Management 25,000/- PRIZE WINNERS OF PROFESSIONAL EXAMINATION SHALLY GUPTA ROUSHAN KUMAR ARUNA GUPTA Rammurthi Buddha- winner for the Speciallized Diploma in Marine Insurance SEMINAR As part of the academic session of III s Annual conference, the College of Insurance presented a seminar on the topic Combating Insurance Fraud as a part of its 50 th Anniversary activities on 20 th August, SEMINAR THEME: Though fraud has been identified as one of the major challenges of the insurance industry in recent years, a comprehensive solution through academic and professional capacity building has not yet been found, especially in the Indian context and often not visible. The session was chaired by Dr. Thomas Mathew, Professor, College of Insurance who set the background for discussion. The speakers were Mr. Frederick Wharton, President, NATG; Mr. Shivindra Pratap Singh, Managing Director, Lancers Network Ltd.; Mr. P.K. Rath, ED (Audit), LIC of India, (Former 6 P a g e

7 Director, COI/III); Dr. C.H. Asrani, Chief Executive, X-Claim; Mr. Nazim Khan, VP (Internal Control), ICICI General Insurance Co. Ltd.; Capt. Mr. Vijaypal Singh, Loss-Control Manager, AIG General Insurance Co. Ltd. PANEL DISCUSSION & LAUNCHING OF CIAFP Dr. George Thomas Mr. Fredrick Wharton Mr. Shivindra Pratap Singh Mr. P.K. Rath Dr. C.H. Asrani Mr. Vijay Pal Singh Mr. Nazim Khan Panel Members Section of Audience Mr. G. Srinivasan CIAFP Course Launched 'CERTIFIED INSURANCE ANTI-FRAUD PROFESSIONAL' (CIAFP) COURSE LAUNCH CEREMONY As part of the Academic Session of III's Annual General Meeting, the Insurance Institute of India launched the 'Certified Insurance Anti-Fraud Professional' (CIAFP) Course on 20th August The Course was launched at the hands of Mr. G. Srinivasan, Chairman cum Managing Director of the New India Assurance Company Ltd. 7 P a g e