Page 34 - Insurance Times December 2020

Having said this, the fact also remains that agriculture in hand there are allegations of 'windfall gains' by insurance
general and crop insurance in particular are sensitive topics companies while on the other fewer insurers now come
and therefore fraught with complexities of perception, going forward to bid for PMFBY. Furthermore, the farmers still
much beyond sheer data. More than the technical prefer the manual CCE based loss assessment despite its
parameters like claim ratios and outreach, various inherent problems, while the insurers prefer index-based
behavioural factors also influence the discourse on crop products. Several such antagonisms prevail at the ground
insurance which cannot be ignored. Agrarian economics in level.
India has largely remained welfare-centric and has not quite
promoted a business-oriented approach towards agriculture. Therefore, a more holistic analysis that considers not just
data but also the behavioural tendencies of various
These tendencies inhibit the transformation of agriculture stakeholders at play, including the insurers, needs to be
from a last-recourse activity to a full-fledged business and carried out, in order to ascertain the real issues that confront
thus make the introduction of market-based systems like crop insurance sector so that workable long-term solution
PMFBY a bit arduous for all stakeholders. This is why on one can be suggested.

Green Delta advisor honored with'lifetime achievement award'

Green Delta Insurance Company's (GDIC) Advisor and Founding Managing Director Nasir Ahmad Choudhury is honored
with 'lifetime achievement award' by an international forum in India for outstanding
contribution in insurance inclusion in Bangladesh.
Indian Birla Institute of Management Technology (BIMTECH) announced the recognition
to the Bangladesh veteran in insurance sector at fourth edition of BIMTECH Insurance
Colloquium held virtually on Friday.
Insurance Regulatory and Development Authority of India (IRDAI) member TL Alamelu
made keynote in the session while BIMTECH Director made address of welcome on the
occasion.
BIMTECH Prof Abhijit K. Chattoraj conducted the first thematic session on 'challenges
from corona pandemic to health insurance industry and way out'.
Green Delta Insurance Managing Director Farzanah Chowdhury, Max Bupa Health
Insurance Director Bhabatosh Mishra, IRDAI General Manager D V S Ramesh, World
Nasir Ahmad Choudhury Bank Senior Consultant MaltiJaswal, Star Health & Allied Insurance Managing Director
Founding MD, GDIC S Prakash shared knowledge in the session.

Regarding the achievement, GDIC Managing Director Farzanah Chowdhury said the achievement of our respected advisor
added another feature of success as NasirAhmad Choudhury has shown pathway of insurance inclusion in Bangladesh.

DBH chairman Nasir Ahmad Choudhury, a widely respected business veteran, pioneered the insurance industry of
Bangladesh.
After completing post-graduation from Dhaka University, Nasir Ahmad joined the Pakistan Insurance Corporation in
Karachi in September 1958. Later, he went to London for training and further traveled to Germany to train at the
Munich Reinsurance Company.
At Pakistan Insurance Corporation, he held various senior positions till the liberation of Bangladesh. In 1972, fueled by
the patriotic urge to engage in nation building, he took up the challenging responsibility of re-building the reinsurance
department of the Sadharan Bima Corporation as a General Manager.
In 1985, when insurance was opened up to the private sector, Nasir Ahmad established Green Delta Insurance with a
couple of close friends, as sponsor and founder managing director and chief executive officer.
The seasoned businessman was director at FBCCI, President of the Insurance Association, executive member of the
Metropolitan Chamber of Commerce and Industry, president of the Bangladesh German Commerce and Industry.

The Insurance Times, December 2020