We wish all our Subscribers, readers, advertisers a very Happy ·and Prosperous New ‘Year 2019. Our journal has entered into the 39th year of continuous publication and we plan to enrich the journal with more features in the current year.
Risk Management Association of India is going to organizes Risk Management Summit on 24th January 2019 at Mumbai. The theme of the conference– is Risk Management Challenges in the New Era which is very apt with the increasing concern ·about proper Risk Management in every sector of the economy. The companies to succeed and survive .must have a strong Risk Management Strategy to perceive, analyse and estimate the possible operational and Business Continuity Risks. We hope this annual feature of Risk Management Association will help the industry to develop sound Risk and Financial strategies.
The increasing instance of fraud in the insurance industry is quite alarming. As p.er an estimate by Life Insurance Council it is around 40000 crore which is quite huge. The industry should take proper steps to stop this menace. It was also estimated that around 28% of the fraud is being fostered by Intermediaries which is quite significant. Insurance Companies must focus on business procurement strategies from the intermediaries. At times agents complain that due to heavy pressure from insurance companies they indulge in malpractices to fulfil their business target.
IRDAI is coming out with new Regulations and draft notifications on various important areas. Hope these will help the industry to function better.
