Insurance top brass to descend on Hyderabad for CII summit

To be organised by the Confederation of the Indian Industry (CII), the two-day insurance summit will kick off with the inaugural address of the chief minister, N Chandrababu Naidu, and key note address by the Insurance Regulatory and Development Authortity (IRDA) chairman, CS Rao.

The theme session of the summit will identify the measures that the stake-holders in the insurance industry need to take and implement to enhance the spread of insurance in the country.

To be moderated by Omkar Goswami, the chief economist of CII, the session will be addressed by U K Sinha, the joint secretary (department of economic affairs) of the union ministry of finance, Janmejaya Sinha, the director of Boston Consulting Group, S B Mathur, the chairman of LIC, Shikha Sharma, the MD of ICICI-Prudential Life Insurance, S L Mohan, the CMD of Oriental Insurance, and Sam Ghosh, the CEO of Bajaj Allianz General Insurance, according to a CII release.

The second session will table the views of the industry on the desired transformation in the insurance regulatory regime with the changing market and business environment.

The speakers at the session include S V Mony, the vice- chairman of AMP Sanmar Assurance Company, R Krishnamurthy, the CMD of SBI Life Insurance, Jeffrey Stephen Kehoe, the director of Royal Sundaram, Venkatesh Mysore, the MD of Metlife India Life Insurance, P Balasubramaniam, the vice-President of ICICI Lombard General Insurance, Ajay Seth, the director (legal and compliance) of Max New York Life, and Vinod Sahgal, the MD of JLT.

The third session with a focus on pension reform aims at bringing to the table the international pension experts, key decision-makers in the government, and players from the Indian industry to study the proposed reforms and attempt to forecast where these reforms will take the Indian pensions sector.

Speakers at the session are T K Banerjee, the member (Life) of IRDA, U K Sinha, the joint secretary at the ministry of finance, Ajay Shah, the consultant of the ministry of finance, Deepak Satwalekar, the MD of HDFC Standard Life, Shikha Sharma, the CEO of ICICI Prudential Life, Yvo Metzelar, the president of ING Vysya Life Insurance, Sanjay Sachdev, the country manager of Principal Financial Group and Ashutosh Bishnoi, the vice-president of OM Kotak Life Insurance.

The second day of the summit would begin with a session on harnessing IT & outsourcing opportunities for insurance development. The speakers are P A Balasubramanian, the member (actuary) of IRDA, Stephen Wylie, the principal at Financial Services Industry Group, Baskar Sridharan, the head of insurance competency group at Infosys, and Mohan Raisinghani, the head of technology at Birla Sun Life Insurance. There is also a session on alternate distribution channel costs vis-a-vis benefits, the press release added.