3rd Annual Insurance India Summit & Awards 2018

The prestigious 3rd Annual Insurance India Summit & Awards 2018, with the theme “BlockChain, AI & IoT – The Future of Smart Insurance Industry” provided a platform for industry stake holders to work out a roadmap for unleashing the future of Indian Insurance Industry in India. The exclusive two days summit was organized during 21-22 June 2018 at Hotel The Lalit Mumbai, India.

The Day 1 was inaugurated with the lamp lightening ceremony and address by Chief Guest Honourable Shri Nilesh Sathe, Member Life- The Insurance Regulatory and Development Authority of India (IRDAI), Where the honourable chief guest expressed his happiness towards the summit and the organizer, Quest On the frontier for organizing the important summit on Indian Insurance Industry and Facility with the top and eminent experts and leaders. He also mentioned the journey and transformation of the industry with digitization.

The first Panel was – CEO Panel – Insurance Industry & India Vision 2025. The panel was moderated by Ms. Tejaswi Chawla, SVP, VYMO, with the key industry experts – Mahesh Balasubramanian, MD & CEO, Kotak General Insurance, Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, Praveen Gupta, MD & CEO, Raheja QBE General Insurance and Joseph Augustine, CEO, XL Catlin’s India. Later on Mr. Jürgen Hase, CEO, Unlimit IoT Pvt. Ltd. presented his keynote presentation on “Can IoT transform the commoditized insurance business?”.

The next big panel was on the accelerating growth of Cyber Insurance. The panel was moderated by Varsha Jalan, Senior Associate, Khaitan Legal Associates. Sasi Kumar Adidamu, Chief Technical Officer, Bajaj Allianz General Insurance, Upendra Namburi, Chief Innovation and Marketing Officer, Bharti AXA General Insurance, Amber Gupta, Head Legal & Company Secretary, Aditya Birla Capital – Life Insurance, Sudhir Gudal, Promoter & Chief Distribution officer, Xperitus were the panel members. Nishant Mohanty, Regional Sales Head, VYMO presented on Transforming Sales through AI.

The next highlight on the day was very crucial panel on the rise of InsurTech. The panel was very well moderated by Raunak Jha, Chief Actuarial and Risk Officer, Reliance Health Insurance and the panel members were – Mohit Rochlani, Director – IT and Operations, IndiaFirst Life, Hrishikesh Kunte, Digital Head, Aditya Birla Health Insurance, Kamlesh Manuja, Head of Business Operations, Edelweiss Tokio Life Insurance, Narendra Saini, Head – Products, Unlimit IoT Pvt. Ltd. Ashok Hariharan, CEO & Founder, IDfy and Wriju Ray, Chief Revenue Officer, IDfy presented on the topic – There’s no such thing as perfect crime – using machine learning and data science to detect fraud. The presentation was followed by the final session of the day panel on How to Combat Fraud in Insurance. The Panel was moderated by subject matter expert Sanjiv Dwivedi, SVP Investigation and Loss Mitigation, Bajaj Allianz General Insurance and the panel members were Sunder Krishnan, CRO, Reliance Life Insurance, Vishal Dubhashi, Senior VP, HDFC ERGO General Insurance, Dr. Sanjay Tiwari, Vice President, ICICI Lombard General Insurance, Lalitha Bhatia, COO, IDBI Federal Life Insurance were the panel members.

The Day 2 started with the panel on Accelerate Insurance Transformation with the Blockchain Technology. The panel was moderated by Shefali Sonpar, Senior Director – Head Insurance Practice, UST Global. Amit Kalra, Managing Director & Head Global Business Services, Swiss Re, Dr. S Prakash, COO, Star Health and Allied Insurance, KV Dipu, President and Head of Operations, Bajaj Allianz General Insurance, Swati S. Bhide, Blockchain Leader, FSS, IBM India Pvt. Ltd. Yatish Bhatia, VP – Technology, ICICI Lombard General Insurance, were the panel members.

The session was followed by the presentation by Swati S. Bhide, Blockchain Leader, FSS, IBM India Pvt. Ltd. on IBM –Thought Leadership. The next panel was Cyber Security. The panel was very well moderated by Shefali Sonpar, Senior Director – Head Insurance Practice, UST Global. N.K.V Roop Kumar, EVP, Chief of Risk and Information Security, SBI Life Insurance, Avez Sayed, Senior AVP, Enterprise Risk Management and Chief of Information & Cyber Security, ICICI Lombard General Insurance, Krantikumar Sherkhane, CISO, Aditya Birla Health Insurance, Satyanandan Atyam, CISO, Bharti AXA General Insurance, Pascoal Andrade, Assistant Vice President – Head IT Infrastructure and Information Security ICICI Lombard General Insurance, DHFL General Insurance were the panel members. Later on, Avez Sayed, Senior AVP, Enterprise Risk Management & Chief of Information & Cyber Security, ICICI Lombard General Insurance presented on Known and Unknown – A Risk Management Perspective. Charanjit Attra, Partner, presented a session on EY IFRS 17 – Insurance Contracts. The next panel was on Asset Liability Management and Portfolio Management. Arvind Shah, Associate Vice President, ICICI Lombard General Insurance was the moderator and Kailash Mittal, SVP – Actuarial, HDFC Life Insurance, Subhrajit Mukhopadhyay, Chief & Appointed Actuary, Edelweiss Tokio Life Insurance, Ramkumar K, Chief Investments Officer, Reliance General Insurance, TA Ramalingam, Senior President Channels, Bajaj Allianz General Insurance, Nilesh Mejari, CFO, CCO, CRO, Munich RE. The last panel of the summit was on a very crucial topic – Insurance Regulation and Insurance Accounting Standards with IFRS 17. This session was moderated by Shikha Bagai, CFO, Aditya Birla Health Insurance. Satishwar Balakrishnan, Chief Financial Officer, IndiaFirst Life Insurance, Sai Srinivas Dhulipala, Appointed Actuary & President, Bajaj Allianz Life Insurance, Charanjit Attra, Partner, E&Y, Subhash Pillai, CFO, Tata AIA life Insurance, Venkatakrishna Narayana, CRO, Bajaj Allianz Life Insurance were the panel members.

The evening started with the most awaited and prestigious Insurance Awards 2018. The first award for the category of Life Time Achievement Award in the Insurance Sector was given to K Sanath Kumar, Ex-Chairman cum Managing Director, National Insurance Co Ltd for his immense work for the Indian Insurance Industry. Insurance Personality of the year award was given to G. Srinivasan, CMD, The New India Assurance Co Ltd. Life Insurance Company of the year award went to “ICICI Prudential Life Insurance Company Limited”, General Insurance Company of the year award went to The New India Assurance Co Ltd, Health Insurance Company of the year award went to Star Health and Allied Insurance Company Ltd. CEO of the year (Life) award went to Amitabh Chaudhry, MD & CEO, HDFC Standard Life Insurance Co Ltd, CEO of the year (General) went to Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, CEO of the year (Health) went to Anuj Gulati, Managing Director & CEO, Religare Health Insurance, Customer Service Provider of the year award went to Shriram General Insurance Co Ltd. Rising Star of the year award went to DHFL General Insurance Ltd. Insurance Broker of the year award went to Xperitus Insurance Brokers PVT LTD, Best Claims Service Provider of the year award went to Religare Health Insurance, Bancassurance Leader of the year award went to Religare Health Insurance, Marketeer of the year award went to Bajaj Allianz General Insurance, Technology Initiative of the year award went to Max Bupa Health Insurance Company Limited, Best Cyber Team of the Year – Insurance award went to ICICI Lombard GIC Ltd. Fraud Intelligence Insurance Company of the year award went to Aditya Birla Sun Life Insurance Company Ltd, Product Innovator of the year award went to The New India Assurance Co Ltd, Best Consumer Engagement TPA 2017-2018 award went to Paramount TPA, Best Start-up Broker of the year award went to Anzen Insurance Brokers Pvt Ltd.