Page 48 - Insurance Times December 2021

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Events and happenings at Birla Institute of Management

Technology (BIMTECH)

Activity in Club INMOS ((Insurance Participation in International
Movers & Shakers) Conference

Club INMOS (Insurance Movers & Shakers) is a club of We at BIMTECH are happy to share Dr Abhijit K. Chattoraj
- Chartered Insurer, Dean (SW &SS) and Chairperson -
BIMTECH run by students of PGDM - Insurance Business
Insurance Business Management Programme has been
Management programme. Club INMOS regularly invites
prominent personalities from insurance industry to share invited to speak as an eminent speaker at the Conference
on Leadership Development for the New Normal at
their industry knowledge with its members. On November
Kathmandu ' being organized by Banking, Finance and
20th,2021the club had the honour to hear Mr Vinay Sah,
Insurance Institute of Nepal (BFIN) at Kathmandu, Nepal.
Insurance Ombudsman, Maharashtra who gave his valuable
his insights on the theme "Customer Grievance Redressal in Banking, Finance and Insurance Institute of Nepal is
Insurance". promoted by 16 national level institutions represented by
commercial banks, development banks, finance companies,
The discussion opened with Ms.Sunidhi a student member
micro credit institutions, capital market institutions in Nepal
of the club sharing the overview of the status of the
grievances as per IRDAI's annual report. Subsequently Prof and the Emerging Nepal Limited.
Manoj K Pandey, Faculty member engaged Mr. Sah in the Hon. Governor Mr. Maha Prasad Adhikari, Nepal Rastra
discussion the topic in a Q & A mode. Bank is Chief Guest for the Opening Ceremony of the
conference.
In his submission Mr. Sah talked about the regulatory
provisions in place for insurance companies to have an in- Many prominent International speakers from India,
house grievance redressal mechanism. Mr. Sah was of the Bangladesh, and Sri Lanka will present their insightful
opinion that every aggrieved customer should first try the thoughts in the conference along with the prominent
options available at company level first & then only look for speakers from the Nepalese Banking and Financial Sector
the other option. He also talked about the IGMS system of as well.
IRDAI, consumer courts / forum & then about the institution This conference is seeing participation from the prominent
of the Insurance Ombudsman. international speakers/personalities from Nepal, India,
Bangladesh and Sri Lanka.
Mr. Sah shared that majority of the complaints in life
insurance domain are of mis-selling while in general This conference is being attended by board of directors,
insurance it is rejection / short payment of claims. Mr. Sah chief executives and top executives of banks and financial
also shared that the digital intervention & the new institutions, insurance companies, senior government
possibility of having case hearings online has improved the officials, leaders of public and private industries and other
work flow and the ombudsman's office is able to handle and distinguished delegates/professionals engaged in the public
dispose more cases than in past today. and private sector. T

48 The Insurance Times, December 2021