Transcript Insurance Foundation of India (IFI)An Opportunity to

Insurance Foundation of India (IFI)
An Opportunity to Support a Not for Profit Organization
Year - 2013
Objectives of IFI
Education
Seminar
&
Training
Objectives
Consumer
Rights &
Welfare
Objectives of IFI
IFI is a Not for Profit making organization set up under Trust Registration
Act. 1882 of Government of India. The objectives and purpose of IFI are:
Education
1. Include Insurance in basic education/ university level
• Inclusion of Insurance as a subject in class 10 & 12 of the schools on all India basis so that insurance
Industry gets large reservoir of people to expand in the rural/ semi urban/urban parts of our country. This
will also assist in growth of the Indian Insurance market.
• Inclusion of Insurance as a subject at undergraduate level.
• To support/fund authors and also publish/translate text books in English/ Hindi and all regional as well as
vernacular languages.
2. Awards/ scholarships to generate interest among students
• Competition among postgraduate management students so that they undertake/ create quality project
reports. Awards to be given.
• Financial support to students undertaking research projects in insurance at PhD level. This support will
be in the form of fellowship (higher than stipend paid by UGC/University)
3. On Line Education
• To set up facilities for online education, training, dissemination of Insurance and Insurance related
subjects/information among students, as well as professional specialists working in Insurance Industry
(Companies, Intermediaries, TPAs, Surveyors, Actuaries), masses and general public.
4. To collaborate with world class institutions and set up Educational Institutions
• Intend to collaborate with Schools/ Business Schools/ Institutes/ Universities of international repute
(within India and abroad) for achieving the objectives of the Foundation.
• Setting up of World Class Institute for Actuarial Science Studies.
Objectives of IFI
Seminars and Training
1. Executive Development Programme
• To organize National/ International Conferences/Programme/Workshops for those
working for Insurance Industry/ Clients of insurance companies/NGO’s and for common
people who may like to participate and get knowledgeable about the Insurance
policies/products. Large percentage of these to be conducted in Hindi/regional
languages.
2. Funding of Members
• To facilitate/ support/ fund members to attend international programmes as well as
Conferences/ Seminars/ Workshops with a view to widen their knowledge of the
insurance industry in the world and how the good features can be adapted in Indian
conditions. Presence of Indian delegations in International Seminars will build goodwill
for India as one of the fastest growing economy of the world
Objectives of IFI
Consumer Rights/Welfare
1. Assist the Insurance consumers of India
• By protecting the interests of members by taking up issues with Insurance Companies, Insurance
Ombudsman, IRDA, Government of India, Consumer Forums at various levels on all India basis and any
other agency
2. Translation & Publication
• To publish/ translate booklets/ books in English/Hindi and all regional as well as vernacular languages so
that masses living in urban/ semi urban/ rural parts of India can use Insurance as part of their financial
planning/ risk management
3. Interface with Media (Press/ Electronic)
• To play a positive role towards projecting the needs/ aspirations of Indian consumers.
4. Inclusion of Insurance as a part of story of film/ TV episode/ documentary films:
• This can be most cost effective medium to spread the message of insurance among masses.
5. Legal Cell
• To set up Legal Cell to provide assistance to insurance customers comprising of individuals/families/
corporate/NGO’s/institutions.
• To work towards “Lok Adalats” to solve the issue of affected consumers.
6. Simple Language
• To work towards change in language of insurance policies in easy to understand language/ format so
that consumers/ policy holders can understand the same. We feel this will result in more and more
policies being sold.
Our Achievements
1. Executive Development Programme
• Successfully organised Executive Development Programme of international standards on Health
Insurance in New Delhi (Nov – 2009) with world class faculty. A new bench mark on executive training in
India was set through programme.
• PDH Chamber of Commerce & Industry and Insurance Foundation of India Successfully organised
Executive Development Programme on “Risk Assessment & Fire Insurance Claims” in New Delhi (on
January 30 & 31,2012)
2. Representation to Government of India
• For inclusion of Insurance as a subject in class 10 and 12 as well as the undergraduate level in
universities.
• Setting up of 6 Indian Institute of Insurance.
3. IFI Project Report Awards
• Decided to have a competition among post graduate management students of leading management
institutes during 2010.
4. Documentary Film:
• 2 different small size film production houses have agreed to consider production of documentary film/
short film, where part of cost will be borne by IFI. Major cost to be borne by some insurance company who will be sponsor of the same on various TV channels.
5. Financial support to PhD scholars
• Decided to grant fellowship (higher than the stipend paid by UGC/University) to PhD scholars to
undertake Research Projects in the field of Insurance. To undertake publishing of their books as well.
Our Achievements
5 days Executive Development Programme of International Standards in November 2009 :–
(Equivalent to a semester course of MBA class of Kellogg School of Management, U.S.A.)
Prime Faculty
Prof. Howard J. Bolnick conducted an Executive Development Programme.
Topic
‘Insurance Market Behavior and Health Insurance’
Participants
High profile senior professionals from leading Insurance, Re-Insurance, Health Insurance, HR consulting companies and
Insurance Brokerage Firms.
Guest Faculty Comprised of Eminent personalities Indian Insurance Industry
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Mr. S.B. Mathur
Mr. M Ramadoss
Dr. Somil Nagpal
Dr. V Ranjan
Mr. Abhijeet K. Chattoraj
Mr. Karthik K
Mr. S K Sethi
Comments
Rated as Programme of International standard conducted in India with participants from cross functional areas.
Our Achievements
2 days Executive Development Programme on “Risk Assessment & Fire Insurance Claims” in
New Delhi (on January 30&31, 2012)
Prime Faculty
Mr. K. S. Vishwanath, Mr. V. N. Arunn, Mr. Sanjeev K. Sharma, Mr. P. S. Ramnathan, Mr. S. K. Sethi
Topic
“Risk Assessment & Fire Insurance Claims”
Participants
High profile senior professionals from leading Insurance Companies, Surveyors, Corporate buying Insurance, and
Insurance Brokerage Firms
Guest Faculty Comprised of Eminent personalities Indian Insurance Industry
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Dr. Deepak Goyle
Mr. Vinod Sehgal
Mr. Sagar Sanyal
Mr. M Raja Ram
Comments
Rated as Programme of International standard conducted in India with participants from cross functional areas.
Representation to Mr. Kapil Sibal,
Minister HR
• Skills Development is the greatest need of Government of India to create employment
opportunities for youngsters coming out of our education system
• This is possible by:
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Inclusion of Insurance as a subject in class 10 and 12. Many of the students will
become insurance advisors.
Inclusion of Insurance as a subject at undergraduate level. Many of the students
will join Insurance Companies/ Insurance Brokerage Firms/ TPAs. Over a period
of time this will result in middle management cadre of our Insurance Industry.
Setting up of Indian Institute of Insurance at 6 locations will cater to long term
needs of senior management of Insurance Industry.
• This project of ours got moral support of ASSOCHAM in Insurance Conference
organised in New Delhi in 2009. Reference made to this initiative in the welcome
speech by Mr. M. Ramadoss, Chairman, Insurance Committee.
• National Institute of Open Schooling has introduced Diploma in Insurance which is now
available on all India basis.
Our Forthcoming Programme
Role of NGO’s in distribution of Micro Insurance
Planned to be held in June 2013 in association with PHD Chamber of Commerce and will be attended
by delegates from
Insurance Companies
Insurance Brokerage Firms
Insurance Agents / Advisors
NGO’s
CSR groups of various corporates
Micro Finance Companies
Consumer Welfare Organizations
Volunteers interested in spreading the message of Micro Insurance
Press & Media
Objective Involve Insurance Companies / NGO’s / CSR group of companies in spreading the message of Micro
Insurance to those who can not buy insurance but need it badly.
Sponsorship Sponsorship support from Insurance Co’s/ Corporates/ NGO’s will be highly appreciated.
Our Forthcoming Programme
2 Days Non Residential Programme on Risk Assessment & Fire Insurance Claims (Specialized
Programme for Sugar Mills)
WHY SPECIALIZED PROGRAMME ON RISK MANAGEMENT AND FIRE INSURANCE
CLAIMS FOR SUGAR MILLS
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Fire
and allied perils are devastating for any business venture whether it is a manufacturing unit (Sugar Mills) or service
provider such as hospitals and hotels.
Most businesses realize at the time of claim that the claim amount is not payable because proper risk assessment has not
been done at the time of taking the policy. Businesses fail to realize that risk cannot be managed only by taking insurance
policy. It is their responsibility for maintaining the safe environment to conduct the business. The insurance policy will not
cover the risks associated with organization if it fails to fulfill the conditions attached to policy.
This programme will give an opportunity to participants to interact with faculty, who have vast experience of dealing with
businesses and claims worldwide. Participants will be able to learn about common mistakes that cause hardship to
Organizations.
Fire not only causes losses to organization’s assets and life but severely affects the goodwill and future growth of the
organization. In many cases owner, promoter and directors face prosecutions as we have noticed in the case of fire in
certain cinema halls/hospitals in the recent years.
Participants
Sugar Mills / Firms who purchase fire insurance polices, High profile senior professionals from leading Insurance
Companies, Surveyors, Corporates buying Insurance, and Insurance Brokerage Firms
Prime Faculty
Mr. Govind Johri, Mr. Abhay Gujar, Mr S.K.Sethi, Mr. Sagar Sanyal, Mr Sanjeev. K. Sharma
Financial support to PhD scholars
• We intend to encourage PhD scholars to undertake Research in the field of
Insurance.
• Fellowships to students undertaking research projects in insurance at PhD level. This
support will be higher than the stipend paid by UGC/ University.
• We will support the research study to be published in the form of books so that it
gets known to the Insurance Industry in India and abroad.
IFI Project Report Awards
•
For the year 2011, one of the projects undertaken by us was IFI Project Report
Awards
•
It is a competition among the postgraduate management students of leading
educational institutions in India.
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This project of ours is facilitated with a view to encourage postgraduate
management students to undertake Insurance Industry oriented projects which
would help them broaden their analytical knowledge in the Financial Services/
Insurance Industry.
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Students from 18 leading management institutes will be participated in the
competition.
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13 topics have been short listed for the reports to be submitted.
Full details are available on www.ifingo.org
Why you should support IFI
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Insurance Foundation of India is set up under Trust Registration Act. 1882 of Government of
India and is a Not for Profit making organization working exclusively in the sphere of
insurance.
•
IFI was set-up in 2009 with the objective and purpose of increasing awareness about
Insurance in India
•
IFI undertakes projects pertaining to training/executive development programme in Insurance
sector
•
Wants to set up educational institutions for Insurance as main course
•
Actively assists and educates the Insurance consumers of India
•
Organizes programmes to develop deeper understanding of insurance topics
As you are a leading corporate in Indian Insurance industry we feel that your support will help the
growth of the NGO.
……………..it is better to support NGO working for growth of the industry with which you are
associated.
Companies earning net profit of Rs 5 crores
or more will have to spend 2% on CSR
Amendments in Indian Companies Act will provide:
If net worth of company is more than Rs 500 crores
Turnover is more than Rs 1000 crores
Net profit is more than Rs. 5 crores
Then the company should spend 2% of the average net profit in past 3 years on
Corporate Social Responsibility (CSR) activities .
Insurance Foundation of India is a NGO and will like to have your support by
allocation of funds (by cheque or in kind) for our projects.
Details of our NGO are available on www.ifingo.org
How you can support IFI ?
Financial support to IFI while finalizing Business Plan for year
2013.You could support us by any of the following options
Patron Corporate membership of
IFI
Rs 2,60,000 for the year (includes
Rs. 10,000/- entry fee)
Lump sum funding support for
various projects
Say Rs 20,00,000
Sponsorship for specific projects
Financial support to IFI while finalizing Business Plan for year 2013.
You could support us by any of the following options
We plan to have a 1 day Workshop " Support of
NGO's in spreading the concept of Insurance among
masses", wherein we will have representatives of 200
NGO's from all over India.
Rs. 5,00,000
Nomination of your employees for Executive
Development Programme, being organized from time
to time
Rs. 30,000 to Rs. 5,00,000
Fellowships to PhD scholars
Rs. 20,000 p.m. (No. you can decide)
Scholarships for MBA students
5 scholarships of Rs. 20,000 each = Rs.1,00,00
Funds for buying computers
Rs. 2,00,000
Translation of books in English/Hindi and all regional
as well as vernacular languages
Rs. 2,00,000 to Rs.20,00,000
Funds for IFI Project Report Awards. Your name will
be a part of the awards.
Rs. 5,00,000
Funds for producing short film (10 -12 minutes) for
being shown on all TV Channels
Rs. 10,00,000
Contact Information
New Delhi
Insurance Foundation of India
Om Plaza, 430/7, 1st Floor,
Sant Nagar, East of Kailash,
New Delhi - 110074
E-mail : [email protected]
Phone : 011- 41324957,
26417566
Mob : 9810090853
Attn. Vice President
Kolkata
13 Pollock Street
Kolkata – 700001
Phone – 9831024041
Contact : Mr. A D Bhatia
Appendix
•
Photographs of Programmes
•
Appreciation Letters - Chamber of Commerce
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Appreciation Letters - Max New York Life
Munich Re
Royal Sundaram
Executive Development
Programme (2009)
Health Insurance
Mr. Krishnan Ramachandran,
Chief Operating Officer, Apollo
Munich
Insurance,
being
handed over cerificate by Prof.
Howard J. Bolnick
Group photograph of the
participants with Prof. Howard
J. Bolnick
(Few participants are not present)
Executive Development
Programme (2012)
Risk Assessment & Fire Insurance Claims
Group photograph of the
participants and faculty
members on evening of Jan 31,
2012. Some participants are not
present.
Participants attending the
workshop and participating in
discussion.
India Insurance Conference (2012)
The Way Forward
Held on December 12,2012
participants from industry
attending the conference and
participating in discussion.
Honorable Speakers included
Mr. Yogesh Lohiya, Mr Anuj
Gulati, Mri. Dipankar Acharya,
Ms Malti Jaswal, Mr. S K Sethi,
Mr. Bhavesh Sharma, Mr. Kapil
Mehta, Mr. Harsha Kapoor
Conference on Role and Scope of
Sub brokers in Insurance (2013)
This conference has held on March 19, 2013 in association with PHD
Chamber of Commerce to discuss & send conclusion to IRDA
Ms. Pushpa Girimaji Consumer
Activist and Columnist making
presentation in Conference on “Role
and Scope of Sub Brokers in
Insurance”.
Mr. S. K. Sethi Vice President,
Insurance Foundation of India
speaking in Conference on “Role and
Scope of Sub Brokers in Insurance”.
Outcome
Comments have been sent to Insurance Regulatory and Development Authority (IRDA). This Conference has been
rated as the most though provoking conference held in the area of Insurance in New Delhi.
Appreciation Letter from Leading
Chamber of Commerce
PHD Chamber of Commerce and Industry Dec 18, 2012, New Delhi
Appreciation Letter from Leading
Chamber of Commerce
PHD Chamber of Commerce and Industry March19, 2013, New Delhi
Appreciation from Leading
Insurance Companies
Dear Mr. Sethi,
This has reference to your letter to Rajesh Sud, CEO & Managing Director, Max New
York Life on above mentioned subject. We believe it is a good idea to award best
project report on insurance domain as this will build greater interest of students in
this industry with vast potential....................................................We wish you all the
best in your endeavour and look forward to working with you in your future projects.
Regards,
Abhinav Rahul
Vice President - Corporate Communications I Max New York Life Insurance Co. Ltd.
12th Floor, DLF Square, Jacaranda Marg, DLF City Phase II, Gurgaon - 122002
Appreciation from Leading
Insurance Companies
Dear Sir,
Again I congratulate you on yet another worthwhile initiative!..............................Warm
regards and we wish you much success.
Gayle Adams
Senior Actuary & Head of Health
Munich Re India Services Pvt Ltd.
302, Peninsula Towers, Peninsula Corporate Park, Ganpatrao Kadam Marg,
Off Senapati Bapat Marg, Lower Parel, Mumbai 400 013.
Appreciation from Leading
Insurance Companies
Dear S.K. Sethi,
Thank you for the proposal and the offer to associate with IFI in the forthcoming
event on "IFI Project Report Awards". We do appreciate the efforts taken by IFI in
spreading and building awareness about Insurance, among the masses and the
encouragement to the Students to participate in Building and understanding
Insurance................................We wish you all the very best and success for the "IFI
Project Report Awards".
Thanks & Regards,
Dhruba Jyoti Ghosh
Head, Marketing & Communications,
Royal Sundaram Alliance Insurance Company Limited,
4th Floor, Sundaram Towers, Whites Road, Chennai, India