16 Annual Insurance Conference November 24, 2014

 16th Annual Insurance Conference
November 24, 2014
Taj Lands End, Mumbai
Programme Outline
09.30 am – 10.45 am
Inaugural Session
Welcome Remarks: Mr. Amitabh Chaudhry, Chair, FICCI Insurance
and Pensions Committee and MD & CEO, HDFC Life Insurance Co.
Ltd. ©
Presentation by BCG on the Theme of the Report on Life Insurance
Presentation by McKinsey on the Theme of the Report on Non-Life
Insurance
Inaugural Address: Shri T.S. Vijayan, Chairman, Insurance
Regulatory and Development Authority (IRDA) ©
Release of Reports
Closing Remarks: Mr. Bhargav Dasgupta, Co-Chair, FICCI
Insurance and Pensions Committee and MD & CEO, ICICI Lombard
General Insurance Co. Ltd. ©
10.45 am – 11.00 am
Tea/Coffee
11.00 am – 12.30 pm
Parallel Session I
Life Insurance
Getting back to sustainable
growth and Improving Business
Productivity The Life Insurance industry has
shown recent signs of growth.
However, this growth still fragile.
A vibrant life insurance industry is
vital for the economic health of the
country. What all can industry stakeholders do
to encourage the signs of growth?
Non-Life Insurance
Driving sustainable growth
in GI industry
Vision 2025 has set a high bar
for the India General
Insurance industry - to
become an inclusive,
progressive and high
performing sector with a GWP
of INR 480,000 crores while
achieving a sub-100% CoR
implying a 20%+ RoE. The last
few years have witnessed the
industry growing at a CAGR
of 19%; however the overall
CoR is still at ~120%. In this
context, sustainable growth
will require driving distinctive
customer experience
(primarily through claims
experience), thorough
understanding of underlying
risks as well as adequate
pricing. While the industry
has made some progress in
this regard, there is still a long
way to go. In terms of claims
processes, traditionally the
focus has been on increasing
efficiency.
Chair: Mr. S.K. Roy, Chairman,
Life Insurance Corporation of India
*
However, with changes in
consumer behavior, players
will need to rethink their
claims strategy with
disproportionate focus on
customer experience. In terms
of pricing, there is lack of
necessary infrastructure to
record and analyze accurate
customer data that limits the
ability to identify risk
indicators using trend
analysis. In addition,
emerging risk types (e.g.
migrating labor, critical
diseases) and higher severity
of NatCat risks have increased
complications further. The
session will discuss these
issues and hence potential
imperatives for the industry to
achieve sustainable growth.
Moderated by Mr. Alpesh Shah,
Senior Partner and Director, BCG ©
Moderated by McKinsey
Partner
Panelists :
Panelists :





Mr. V Manickam, Secretary
General, Life Insurance
Council*
Mr. Amitabh Chaudhry, MD
and CEO, HDFC Standard Life
Insurance Co. Ltd. ©
Mr. Sandeep Bakhshi, MD and
CEO, ICICI Prudential Life
Insurance Co. Ltd ©
Mr. Pankaj Razdan, MD and
CEO, Birla Sun Life Insurance


Mr. Bhargav Dasgupta,
MD & CEO, ICICI
Lombard General
Insurance Co Ltd ©
Mr. G Srinivasan, CMD,
New India Assurance Co
Ltd*
Mr. R Chandrasekaran,
Secretary General, GI
Council *

Co. Ltd ©
Mr. Arun Thukral, Managing
Director, CIBIL ©



12.30 pm – 01.45 pm
Mr. S.S. Gopalarathnam,
MD, Cholamandalam MS*
Dr. Amarnath
Ananthanarayanan, MD &
CEO, Bharti Axa General
Insurance Co Ltd*
Mr. Nirmal Jain,
Chairman, India Infoline *
Parallel Session II
Life Insurance
Recreating a compelling
proposition – Finding the win-win
for Customers and Distributors
In the growth years, the industry
had moved away from the end
consumer as the customer, and
become rather intermediary centric.
As this trend changes, what can
companies do to create a
proposition that is a win-win for
the customers and the distributors?
This change in orientation, is also
key to growth and productivity
improvement for the industry.
Chair: Mr. Arijit Basu, Managing
Director and CEO, SBI Life
Insurance Co. Ltd.*
Moderated by Mr. Pranay
Mehrotra, Partner and Director,
BCG ©
Non-Life Insurance
Driving Rural Penetration
The session delves in to the
current state of General
Insurance in rural areas, key
challenges impeding rural
penetration and potential
ideas for increasing
penetration going forward. It
is well known that the
industry has lagged
significantly in terms of
penetration in rural areas with
the PSU players and a handful
of private players making
some in-roads.
The session will discuss the
current challenges and explore
various initiatives to drive
penetration. In particular, the
panelists will explore
possibilities of leveraging
existing rural distribution
infrastructure (e.g. CSCs, BCs,
MFIs, co-operative societies),
drawing parallels from other
sectors such as banking and
telecom. The session will also
explore potential initiatives
based on global examples and
discuss their feasibility in
Indian context.
Moderated by McKinsey
Partner
Panelists:





01.45 pm – 02.45 pm
02.45 pm – 04.00 pm
Mr. Anuj Aggarwal, CEO Bajaj
Allianz Life Insurance Co. Ltd
©
Mr. G Muralidhar, Managing
Director, Kotak Mahindra Old
Mutual Life Insurance Limited *
Mr. Anup Rau, CEO and
Executive Director, Reliance
Life Insurance Co. Ltd. *
Mr. Navin Puri, Country Head
- Branch Banking, HDFC Bank*
Mr. Rajiv Anand, President Retail Banking, Axis Bank ©
Panelists :
 Dr. A K Saxena, CMD,
Oriental Insurance Co Ltd
*
 Mr. Yogesh Lohiya, MD &
CEO, IFFCO Tokio
General Insurance Co Ltd *
 Mr. Ritesh Kumar, MD &
CEO, HDFC ERGO
General Insurance Co Ltd
 Mr. Tapan Singhel, MD &
CEO, Bajaj Allianz General
Insurance Co Ltd *
 Dr. Dinesh Kumar Tyagi,
CEO, Common Services
Centers (CSCs) SPV *
 Mr. Gauri Shankar,
Executive Director, Punjab
National Bank Limited *
Lunch
Parallel Session III
Life Insurance
Digitization of Life insurance
(across the value chain) – from
promise to reality
The spread of digital technologies is
a mega trend that has been
recognized and acknowledged in the
recent past. The real question now is
how do companies convert this trend
into real business benefits? – from on
line sales, to digitization of processes
to achieve efficiency and enhanced
customer experience.
Non-Life Insurance
“Driving market creation”
in underserved segments
The Indian general insurance
market is dominated by
motor and health. However,
current General Insurance
penetration levels are still
below expected levels and
are particularly low in
underserved segments like
SMEs (asset protection at
0.1% relative to 3% for
developed markets) and
Home (less than 1% relative
to 95%+ in developed
markets).
In this backdrop the session
will introduce the key
insights from the McKinseyFICCI report “Driving
market creation: Towards
inclusive growth” to guide
the discussion. Panelists will
explore in detail underlying
factors resulting in low
penetration in these
segments along three
dimensions: Consumers
(awareness, sophistication
and preferences), Insurers
(product, technical
capabilities, operating
model) and other industry
participants (distributors,
regulators, reinsurers). The
session will also delve in to
potential initiatives at policy,
industry and insurer level
which can help the industry
to significantly improve
penetration in these
underserved segments and in
turn achieve Vision 2025
Moderated by Mr. Ashish Iyer,
Partner and Director, BCG ©
Moderated by McKinsey
Partner
Panelists:
Panelists:


04.00 pm – 04.15 pm
Mr. Kshitij Jain, Managing
Director, Exide Life Insurance
Limited*
 Mr. Vignesh Shahane, CEO,
IDBI Federal Life Insurance Co.
Ltd ©
 Mr. Yashish Dahiya, CEO,
Policy Bazaar ©
 Mr. Vikas Agnihotri, Director
Travel and BFSI, Google India*
 Mr. Saujanya Shrivastava, Chief
Marketing Officer, Bharti AXA
Life Insurance Co. Ltd ©
 Mr. Puneet Nanda, Executive
Director and Chief Marketing
Officer, ICICI Prudential Life
Insurance Co. Ltd*
Tea/Coffee
04.15 pm – 05.00 pm
Plenary Session I
Growing Urbanization in India: Developing Resilient cities-Role
of Insurance



Mr. Milind A Kharat,
CMD, United India *
Mr. K. K. Mishra, MD &
CEO, Tata AIG *
Mr. Swaraj Krishnan,
CEO, Magma Fincorp *
Mr. Srikanth
Venkatesan, VP, IBM
India *
05.00 pm – 06.00 pm
Plenary Session II
Pensions
Welcome Remarks: Mr. Amitabh Chaudhry, Chair, FICCI Insurance
and Pensions Committee and MD & CEO, HDFC Life Insurance Co.
Ltd. ©
Special Address: Shri Hemant G Contractor, Chairman, PFRDA ©
* Invited
©Confirmed
10/11/2014