The Insurance sector plays an important role in driving the economic development of a country, with its long term provision of fund for infrastructure development which concurrently strengths the risk taking ability of the nation. India’s economic growth has seen a great surge in the last few years and moving forward with a vision to be third largest economy in the world. India’s insurance market has huge business opportunity waiting to be harnessed. In comparison to the world’s total insurance premiums, India accounts for just 1.5 percent which is much less despite of India being the second most populous country in the world. However, in the recent times the insurance sector has seen phenomenal changes and these changes has been catalysed by technology, competition, regulations, customer aspirations and high growth. The Economic Times Insurance Summit is a platform created to chalk the future course of the insurance sector by getting the industry stalwarts under one platform to discuss and deliberate on the challenges and solutions. With this is purview, The Economic Times 4th Annual Insurance Summit 2017 is centered on the theme “Revolutionizing Insurance Strategies” and will have a pragmatic blend of keynotes, panel discussion, roundtable discussion, etc.
The three key areas relevant to the current insurance sector are Simple Products and Low Cost Distribution, Digitization and Fraud Management and Broadening Investment Horizon. The Indian insurance eco system is rapidly changing with various initiatives undertaken by the government of India such as demonetization, introduction of UPI, India Stack are accelerating the adoption of digital technologies. The Insurance Regulatory & Development Authority of India (IRDAI) is heralding change through its e-insurance initiative and financial literacy programs. Mobile adoption and internet trends under Digital India banner are bringing in a new generation of customers who are conversant and comfortable with using technology for their financial decisions. It is important to adapt to strategies that align with these changing trends to stay ahead of competition.
The Economic Times recognizes the significance of the Insurance sector due to increased contribution in the GDP and the well-being of the citizens and understands that development of this sector is crucial if India has to witness sustained development socially and economically. With this in purview, Economic Times brings to you The 4th Annual Economic Times Insurance Summit 2017 with the aim to bring together national policy makers and corporate leaders to deliberate on crucial challenges of the industry.
The Economic Times Insurance Summit | 24 November 2017 | Mumbai
From the following industries: