Page 26 - Life Insurance Today June 2015 SAMPLE

Interview

with

MR. DEEPAK MITTAL

MD & CEO
Edelweiss Tokio Life Insurance

FDI has been hiked in Insurance in the What do you think of RBI's decision to allow

recent Insurance Ordinance. What impact Banks to act as Insurance Brokers"

you visualize in the insurance industry. There have been significant developments in opening
up of bancassurance in India especially the new
Three key changes - economic growth, FDI corporate agency draft regulations while we await
liberalization and opening up of distribution the final regulations, we believe opening up of
architecture together could have a significant positive bancassurance will be a big development for the
impact on the future of the Insurance industry in India. industry and will help increase necessary penetration
of insurance in India.
The much awaited increase in the foreign capital limit
has sent a strong message of the political will to follow

through on the reform process and it also makes it Innovation is key for success in competitive
easier for the insurance companies to access capital market. How far you believe the concept is
for their expansion plan. Rs. 30,000 crores of inflows relevant in Insurance Products and your
is expected to be infused into the industry over the efforts in this regards.
next 12 months and this does not include new ventures

which may get announce post the increased foreign We were one of the first companies to launch a true

shareholding limit. income replacement (with lump sum benefit) product

This capital will help insurers to invest in building more in 2011. Recently we launched MyLife+ which provides

distribution infrastructure

“and also in upgrading their Three key changes - economic growth, FDI liberalization and “
opening up of distribution architecture together could have a
technology architecture.
These investments will go a significant positive impact on the future of the Insurance
long way in helping industry in India.
increasing penetration levels

of insurance from the cover of up to 80 years and provides choice between
current 3.2% to 5% by 2020. This will translate into lump sum benefits and regular payouts .post its launch
savings being efficiently directed towards long term the product has been well received so far. Criticare+
investments like infrastructure and government debt is the other product that we recently launched which
as well as providing enhanced financial security to the is the first critical illness plan that covers 17 illnesses
insurable population of the country.

22 June 2015 Life Insurance Today

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