Page 46 - Insurance Times November 2021

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BIMTECH Insurance Colloquium - 2021 -Combating

Challenges in emerging Insurance Scenarios

T he fifth edition of fancied BIMTECH INSURANCE In his Keynote address, Mr. G. N. Bajpai, Former Chairman

SEBI & L.I.C., reminded the audience that the current
COLLOQUIUM was held on a virtual platform on
situation exposed societies to risks and opportunities in a
October 8th, 2021, with the passionate theme
of "Combating challenges in the emerging
a rapid transformation, and insurance companies that
Insurance scenarios: A perspective post-Pandemic. It changing landscape. The risk landscape was going through
received a tumultuous response from the viewers both from democratized risk saw business models change. A peep into
India and abroad. The Program of Insurance Business the customer's mind emerging from his aspirations and
Management of Birla Institute of Management Technology patterning products accordingly is immensely becoming
(BIMTECH) organizes this eagerly awaited annual event problematic in the face of changing lifestyle. Insurers should
every year in the month of October. gauge the risk seminating from an individual's lifestyle and
come out with suitable products.
In his welcome address in the inaugural session, Dr.
Harivansh Chaturvedi, Director, BIMTECH, articulated the The first-panel discussion was on the theme of "Combating
impact of the pandemic on economies and societies. Dr. Challenges in the emerging Insurance Scenarios: Way
Chaturvedi felt that the healthcare sector was under severe forward to Health Insurance/Healthcare.". The panel
stress, and serious efforts were needed to address this discussion focused on healthcare's key challenges, including
gnawing problem. He complemented the Insurance business the surge in chronic healthcare expenditure due to
management program for choosing a well-thought-out demographic and epidemiological shifts, with Covid further
theme for the Colloquium. According to him, climate change compounding this problem. An enhanced customer
awareness was necessary, and society should consider what experience requires moving away from over-reliance on
kind of legacy the present generation leaves for our future episodic hospital and specialty care. It calls for all inclusive
generations. new care models across the care continuum focus on
prevention and health promotion, proactive management
In his theme address, Mr. Saurabh Mishra, Joint Secretary, of chronic disease, and home-based alternatives to hospitals
D.F.S. (Ministry of Finance) Government of India, too, felt or long-term residential care.
the theme was relevant in the current times we were living
in. He thought that it was time we looked at loopholes The panel discussion was moderated by Prof( Dr) Abhijit K.
exposed in the health infrastructure during the pandemic Chattoraj, Dean (SW&SS),& Chairperson-PGDM-IBM -
and ensured the availability of health facilities in the future. BIMTECH and chaired by Mr. Suresh Mathur -Executive
A mindset of protection and prevention needs to be Director-IRDAI. Mr. Kiran Anandampillai, Advisor
indoctrinated to meet the challenges in the future. The Technology at the National Health Authority (N.H.A.), Mr.
underprivileged had faced the brunt of the pandemic, and Syed Moinuddin Ahmed, Managing Director, G.D. Assist &
corporates need to look beyond balance sheet profits Additional Managing Director, Green Delta Insurance Co.
towards these sections. Sustainable Action goals are more Ltd. Bangladesh, Dr. Nishant Jain, Programme Director
relevant now, and the insurance sector has an essential role German Development Cooperation Agency (G.I.Z.) and Mr.
in this area. Joydeep Roy, PwC Global Leader-Health Insurance & PwC

46 The Insurance Times, November 2021