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CII India motor insurance event

News article

Publication date:

21 July 2020

Last updated:

23 July 2020

  • Date: Thursday, 13th August 2020
  • Time: 14.00 to 16.00 IST
  • Topic – Current & Future Challenges for Insurers amidst slowdown in the Indian Auto Segment and launch of CII’s ‘Certificate in Motor Insurance (India)’ Qualification
  • Event type: Virtual (through Microsoft teams - a joining link will be shared that just needs to be clicked to enter)

Motor insurance forms the largest component of the general insurance industry in India i.e around 38% - 40% of the total Non-Life premiums. The year 2019 saw a major setback with the advent of the great Indian automobile crisis where car sales dropped to a decade low and now in the first half of 2020 due to the lockdown across India to prevent spread of COVID-19, the Motor segment has been further impacted. With Indian growth likely to slow down in this financial year, insurers believe that it will be challenging times for the general insurance industry as a whole and the motor insurance segment in particular. However, on the other hand analysts say that due to the recent amendment in regulations, Motor Insurance has become a simpler product and is likely to have a better consumption.

It is estimated that there are more than 50,000 people operating within the Motor Insurance segment in India (largest within the General Insurance Industry). However, the skill and knowledge levels of people within this segment is very limited due to unavailability of comprehensive Motor Insurance courses and programmes; leading to customer complaints, incorrect claims, servicing issues, thereby affecting company reputation.

The objective of this event is to hear from the Industry leaders; their views on the challenges and what the future holds for Motor Insurance in India. Also, in order to address the skill gap and enhance the awareness, knowledge and professionalism of the Indian Motor Insurance Industry; the CII as the leading professional body dedicated to insurance and financial services will be launching a comprehensive India specific International qualification in Motor Insurance at this event.

Speakers & Event Flow

Webinar start time

-

14.00

Speaker 1 - Opening remarks: Ms. Sian Fisher, CEO, Chartered Insurance Institute

Ms. Fisher will welcome and thank all the speakers and participants and also provide some context and objective for organising this event.

5 mins

14.05

Views from stakeholders of the General Insurance Industry in India:

Speaker 2Mr. M. N. Sarma, Secretary General, General Insurance Council

Mr. Sarma as the head of a trade body will provide a brief overview of the current Motor Insurance scenario in India from a regulatory perspective

10 mins

14.15

Speaker 3Mr. Neelesh Garg, CEO, Tata AIG General Insurance Company

Mr.Garg will talk about the challenges faced by the insurance companies pertaining to Motor Insurance in the current scenario

10 mins

14.25

Speaker 4Mr. Yashish Dahiya, CEO, Policybaazar.com

As one of the biggest insurance aggregators, Mr. Dahiya will present insights on what the future of Motor Insurance is likely to be in India

10 mins

14.35

Speaker 5Mr. Vijay Kumar, CEO, Go Digit General Insurance Company

As a Digital Insurance company, Mr. Kumar will talk about how technology plays a significant role in facilitating Motor business and ensuring customer satisfaction

10 mins

14.45

Speaker 6Dr. Sandeep Dadia, CEO, Aditya Birla Capital

As one of the leading insurance broking firms in India; Dr. Dadia will share his views on issues pertaining to soliciting Motor Insurance business and the human resource and skill availability of people selling and servicing Motor business

10 mins

15.00

Few words from the CII & launch of the CII’s Certificate in Motor Insurance (India) Qualification

Speaker 7 – Mr. David Thompson, International Director, Chartered Insurance Institute

Mr. Thompson will briefly introduce the Chartered Insurance Institute, the work CII has been doing internationally and announce the launch of the new Motor qualification that the CII has especially developed for India

10 mins

15.10

Speaker 8Mr. Sainesh Dar, Regional Direction, Central & South Asia - CII

Mr. Dar will share the high-level salient features of the new CII Motor qualification

10 mins

15.20

Speaker 9Closing remarks: Mr. Praveen Gupta, FCII and Former MD & CEO of Raheja QBE

Mr. Gupta who has been a thought leader, an author as well as a General Insurance Industry veteran will end the session with his views on professionalism and importance of skill development

10 mins

15.30

Q & A

15 mins

15.45

Event closure

-

16.00

Moderator of the event: Mr. Yashesh Sampat, CII Goodwill Ambassador and Head- Affinity & Association, Edelweiss Gallagher Insurance Brokers

Kindly note, seats are limited hence registrations will be accepted and joining instructions will be provided on a first-come-first-served basis.

Key Speakers

Ms. Sian Fisher, CEO, Chartered Insurance Institute
Ms. Sian Fisher became CEO of the Chartered Insurance Institute in February 2016, following a distinguished career in the Insurance sector. A graduate of Oxford University with an Exec MBA from Harvard, Sian is a strong advocate for equality. Ms. Fisher is also a Non-Executive Director at Asta Underwriting Management and a Vice President of the Insurance Institute of London.
Mr. M. N. Sarma, Secretary General, General Insurance Council
Mr M N Sarma is the current Secretary General of General Insurance Council. Before joining General Insurance Council, Mr Sarma worked as the Chairman-cum-Managing Director of United India Insurance Co Ltd. He joined the non-life insurance industry as a Direct Recruit Officer in 1982 at New India Assurance Co Ltd. He has worked in almost all areas of non-life insurance and in various capacities. He has significant experience of foreign operations too.
Mr. Neelesh Garg, CEO, Tata AIG General Insurance Company
Mr. Neelesh Garg is the present MD and CEO of Tata AIG General Insurance Company Limited. He took over the current role in 2015 and has been instrumental in driving the company’s growth and development in the General Insurance sector. Neelesh comes with over 24 years of rich experience in the financial sector. He is an active member of CII National Committee in Insurance and also sits on the governing bodies of Insurance Information Bureau (IIB) and NSDC. He is also a part of the Board at Bombay Chamber of Commerce and Industry.
Mr. Yashish Dahiya, CEO, Policybaazar.com
Mr. Yashish Dahiya is the co-founder & CEO of Policybazaar.com, one of the top Insurance aggregators in India. In over 12 years, Yashish has grown Policybazaar to become a key influencer in consumer decisions around insurance. He is an avid sportsperson and has worked in the past as MD of Ebookers Plc and consultant with Bain & Co in their London office.
Mr. Vijay Kumar, CEO, Go Digit General Insurance Company
Mr. Vijay Kuamar is the CEO and Principal Officer of Go Digit General Insurance Company and an expert in Motor Insurance. He joined Go Digit in January 2017 after completing 15 exciting years in the Insurance Industry. His previous roles include stints with Bajaj Allianz General Insurance Company, Hyundai Motor, Maruti Udyog and Kirloskar Pneumatic Company. He has headed multiple functions including but not limited to Motor claims, consumer legal cases and Motor underwriting.
Dr. Sandeep Dadia, CEO, Aditya Birla Capital
Dr. Sandeep Dadia is the Chief Executive Officer and Principal Officer of Aditya Birla Insurance Brokers Limited. He joined the company in 2011 and under his leadership the company has grown significantly. He has strategically steered the company to being one of the top 5 insurance brokers in the country. Prior to ABIBL, he was at Enam Insurance Brokers and TTK Healthcare Services. Sandeep is a medical doctor by qualification and holds a MBBS degree. After a successful medical practise for 10 years, he transitioned to become a corporate leader in 2003.
Mr. David Thompson, International Director, Chartered Insurance Institute
Mr. David Thompson is the International Director at the Chartered Insurance Institute (CII) based in Dubai UAE and is responsible for the development of the organisation outside of the UK. David has over 34 years’ experience within the insurance industry. He has managed sales teams globally to meet business objectives through huge corporates with large customer bases. He is an avid golfer and likes to travel.
Mr. Sainesh Dar, Regional Director– Central & South Asia, Chartered Insurance Institute
As a senior management member, Mr. Sainesh Dar’s last 13 years have been spent as an integral part of the CII operations across South & Central Asia. At the CII, Sainesh’s role first involved setting up of the CII’s liaison office in India in 2007 and later the subsidiary company; CIIFS in 2011. He has also been involved in forging strong regulatory and strategic relationships for the CII in the markets of India, Sri Lanka, Bangladesh, and now in Central Asia. His previous roles include stints with Hollard Insurance Co. Ltd, Tata AIG Life, HDFC bank and Reliance Industries.
Mr. Praveen Gupta, FCII & Former MD and CEO of Raheja QBE
In his nearly four decades with the insurance industry, Mr. Praveen Gupta has been in several leadership positions. His roles were both in the public and private sectors, largely in start-up and remediation functions. The portfolios ranged from rural to space insurance. As a recognised thought leader, Mr. Gupta has closely tracked and written about Climate Change for the last 25 years.

Mr. Yashesh Sampat, CII Goodwill Ambassador and Head- Affinity & Association, Edelweiss, Gallagher Insurance Brokers
Mr. Yashesh Sampat, is Head- Affinity and Association- Edelweiss Insurance Brokers Ltd and has more than 17 years of experience in the Insurance sector. He is a Fellow from Insurance Institute of India and a Chartered Insurance Broker and ACII from Chartered Insurance Institute, London. He is a prolific speaker in various business forums in India as well as abroad. He has also taught students in different education institutes in India.

This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.