On 17th June , 2017 At Taj Gateway Kolkata
The ASSOCHAM, Eastern Region organised a National Conclave on Dynamics of Insurance on 17' June at kolkata. Mr K B Vijay Srinivas, chairman, ASSOCHAM Insurance Council in his welcome address spoke about the theme of the seminar. According to him Insurance is a sunrise industry which is witnessing lot of new developments in various fronts. The growth in Insurance Industry has been huge and premium surged post demonetization. Many new schemes like Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Yojna has been very successful. The new Fasal Bima Yojana helped to garner Rs. 20,000 crore of premium which was a big boost to industry. The industry witnessed a growth of 32% which is quite huge. Kolkata holds the distinction of having oldest insurance company in India and insurance market developed from Calcutta. He welcomed the speakers and guests in the seminar.
Mr. Suresh Mathur, Executive Director, IRDAI in his keynote address spoke about the importance of Kolkata in development of Insurance Industry in India. According to him East India Company started its operation from Kolkata and Kolkata provided fodder to economy of Great Britain. He traced out the latest developments in Insurance Regulations with passing of Insurance Amendment Act 2015, Increase in FDI cap, Introduction of new category of Investors who can invest in Insurance companies, Opening of first private Reinsurance Company which will help to create more capacity in Indian Reinsurance market.
Bu hikaye THE INSURANCE TIMES dergisinin July 2017 sayısından alınmıştır.
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Bu hikaye THE INSURANCE TIMES dergisinin July 2017 sayısından alınmıştır.
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International News
Saudi Arabia's Insurance Market Poised for Transformation - Saudi Arabia's general insurance market is on a trajectory of rapid growth, with gross written premiums expected to rise from SAR 68.8 billion ($18.4 billion) in 2024 to SAR 105.3 billion ($28.1 billion) by 2029, reflecting a CAGR of 8.9%. This growth is driven by regulatory reforms, economic diversification, and increased consumer awareness of risk management.
Life Insurance News
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Health Insurance News
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Insurance Regulator Update
IRDAI Calls for More Players in the Insurance Sector - IRDAI Chairman Debasish Panda has called for more conglomerates to enter the insurance space, emphasizing the immense opportunities offered by India's vast population of 1.4 billion. Panda urged private equity funds, institutional investors, venture capitalists, and family offices to explore the insurance market, highlighting that the current 70 insurers in the country are insufficient to meet growing demands.
General Insurance News
Tier 2 and 3 Cities Propel Growth in Motor Insurance - The rise in private consumption in India has positioned tier 2 and 3 cities as key drivers of growth in the motor insurance segment. Increasing vehicle ownership and heightened awareness of insurance have fueled this expansion, according to a report by InsurTech platform Turtlemint. These cities accounted for over 90% of motor insurance policies sold and the premium volume during the festive season this year.
"Bancassurance is at the heart of our growth strategy. It allows Bandhan Life to reach more customers and provide accessible, trusted insurance solutions through a familiar network."
About Indranil Dutta - Indranil Dutta brings 23 years of experience in insurance, banking, and sales, with a specialization in bancassurance. As the Chief Business Officer - Bancassurance at Bandhan Life Insurance, he leads the banca sales channel and plays a key role in driving the company's strategic vision of becoming a leading multi-channel life insurer with an expanded presence across product categories.
IRDAI Corner
The Eighth Bima Manthan, the quarterly meeting of IRDAI with the insurance industry was held on 11th and 12th November 2024, in Hyderabad
International Conference on Inclusive Insurance (ICII) 2024
The 20th edition of the International Conference on Inclusive Insurance (ICII) concluded on a high note in Kathmandu, Nepal, after five days of insightful discussions, interactive workshops, and collaborative networking. Hosted by the Nepal Insurers' Association in partnership with the Life Insurance Association Nepal, Nepal Micro Insurance Association, Nepal Insurance Authority, Munich Re Foundation, and the Microinsurance Network, the conference brought together around 500 participants from around the globe. The Insurance Times was the media partner in the event.
How to choose a Health Insurance Plan that fits your evolving needs
When you are single, you might focus on plans with basic coverage and low premiums. As you get married, look for family floater plans that cover your spouse. When you have children, ensure the plan covers pediatric care, vaccinations, and other child-specific healthcare needs.
My View on #20SIRC Conference
The participants include world top reinsurers, brokers, insurers, IT companies, Consultants, and Regulators. As a regulator from Nepal attending the (#20SIRC) was a unique thrilling experience that provided opportunities for learning, networking, and strategic development. Here's a detailed perspective that I had experienced during my visit to Singapore.
