Chronicles from the 4th ICC Emerging Asia Insurance Conclave & Awards
Dear Esteemed LinkedIn Community,
We are thrilled to share the riveting saga of the 4th ICC Emerging Asia Insurance Conclave & Awards, a monumental event that unfolded at Taj Lands End, Mumbai, on November 22, 2023. Organized by the Indian Chamber of Commerce in collaboration with prestigious partners and international associations, this gathering stood as a beacon illuminating the evolving landscape of the insurance industry.
In-depth Exploration:
Consumer-Centric Transformation: The insurance sector is in the midst of a profound shift, transitioning from conventional markets to a consumer-centric model. Digital channels, once strategic choices, are now indispensable tools for insurers to enhance customer experiences.
Tech-Infused Progress: Beyond product innovation, insurance companies are propelling technology initiatives to the forefront. The synergy of newer data channels, advanced data processing capabilities, and innovations in RPA and AI algorithms is reshaping risk assessment, claims management, and overall business resilience.
Global Convergence: The conclave served as a nexus for global insurance stakeholders. Associations from Sri Lanka, Bangladesh, Nepal, and beyond collaborated, sharing insights in a spirit of mutual benefit and global implementation.
Operational Highlights:
Twinning Session Triumph: Delegates from Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka, and India convened successfully in a Twinning Session. Insights on bancassurance, digital technology adoption, and fraud detection were shared, fostering cross-border knowledge exchange. Mr. Debasis Chatterjee, Executive Vice President & Chief of Bancassurance had a fruitful discussion with stakeholders on Bancassurance.
Insurance Leaders’ Roundtable: Industry luminaries engaged in a compelling roundtable discussion. Mr B C Patnaik, Member (Life), Insurance Regulatory and Development Authority of India , Mr. M Jagannath, MD, Life Insurance Corporation of India - LIC;? Ms Vibha Padalkar, MD & CEO, HDFC Life ;? Mr Parag Raja, MD & CEO, Bharti AXA Life Insurance ; Mr Asit Rath, MD & CEO, Aviva India ; Mr Pankaj Gupta, MD & CEO, Pramerica Life Insurance ; Mr Mohit Rochlani, COO, Star Union Dai-ichi Life Insurance Company Limited ; Ms Farzanah Chowdhury, MD & CEO, Green Delta Insurance PLC , Bangladesh and Mr Jude Gomes, CEO, Union Assurance PLC , Sri Lanka, explored industry trends and strategies for future growth.
Celebrating Excellence:
Awards were given in the following 14 categories:
Best Life Insurance Company; Best General Insurance Company; Best Health Insurance Coverage; Most Effective Adoption of Technology; Best Risk Management Strategy; Best strategies for ‘Insurance Spreading’; Best Innovation and Diversification; Best Customer Oriented Company; Women in Insurance Leadership; Best Practices in Crop Insurance; Best Reinsurer of the Year; Best Micro Insurer; Best Broker of the Year; Best Innovation and Diversification by an Insurance Broker
Fifty insurance companies from 5 countries – Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka, and India – won awards in different categories.
Bangladesh – Sonali Life Insurance Company Ltd ; National Life Insurance Company Ltd; Green Delta Insurance PLC ; Pioneer Insurance Company Limited ; Karnaphuli Insurance Company Ltd; Rupali Life Insurance Co Ltd ; NITOL INSURANCE COMPANY LIMITED ; Delta Life Insurance Company Limited ; LIC Bangladesh Ltd .
Bhutan – GIC-Bhutan Reinsurance Company Limited .
Myanmar – Chubb Life Insurance Myanmar Ltd; First National Insurance General Co Ltd; Global World Insurance Co Ltd;
Nepal – SuryaJyoti Life Insurance Company Limited ; IME Life Insurance ; The Oriental Insurance Company Ltd. ; National Insurance Company Limited ; Himalayan Everest Insurance Ltd; American Life Insurance Company ( MetLife Nepal ); Citizen Life Insurance Nepal Company Ltd; Federal Reinsurance Brokers Limited ; Nepal Life Insurance Co. Ltd. ; National Life Insurance Company Ltd
Sri Lanka – HNB Assurance PLC ; Sri Lanka Insurance Corporation Life Limited ; Softlogic Life Insurance PLC; 友邦保险 Lanka Ltd; JANASHAKTHI INSURANCE PLC ; Arpico Insurance PLC ; Union Assurance PLC ; LOLC Life Assurance Ltd;
India – Tata AIA Life Insurance ; HDFC Life ; SBI Life Insurance Co. Ltd. ; HDFC ERGO General Insurance ; SBI General Insurance ; Go Digit General Insurance ; Niva Bupa Health Insurance ; Indiafirst Life Insurance Co, Formerly Known As Baroda L&G Life Insurance Co ; Life Insurance Corporation of India - LIC ; Cholamandalam MS General Insurance Co. Ltd. ; ICICI Prudential Life Insurance Company Limited ; Aditya Birla Health Insurance Company Limited ; Aviva India ; IFFCO Tokio General Insurance Co. Ltd. ; Star Union Dai-ichi Life Insurance Company Limited ; Policybazaar.com ; Anand Rathi Insurance Brokers Ltd ; DigiSafe Insurance Broking Pvt Ltd; symbo india insurance broking .
Our Esteemed Dignitaries:
Mr B C Patnaik, Member (Life), Insurance Regulatory and Development Authority of India
Mr Mohammad Jainul Bari, Chairman, Insurance Regulatory and Development Authority of India , Bangladesh
领英推荐
Mr R Arunachalam, President, Institute of Actuaries of India
Ms Arundhati Bhattacharya , Chairperson & CEO, Salesforce-India
Mr Vijayant Rai , Executive Director – BFSI, Microsoft India
Mr M Jagannath, MD, LIC - India
Ms Vibha Padalkar, MD & CEO, HDFC Life
Ms Farzanah Chowdhury, MD & CEO, Green Delta Insurance PLC , Bangladesh
Mr Parag Raja, MD & CEO, Bharti AXA Life Insurance
Mr Asit Rath, CEO & MD, Aviva India
Mr Pankaj Gupta, MD & CEO, Pramerica Life Insurance
Mr Jude Gomes, CEO, Union Assurance PLC
Mr Vijaya Bahadur Shah, CEO, Himalayan Everest Insurance
Mr Mohit Rochlani, COO, Star Union Dai-ichi Life Insurance Company Limited
Mr S N Satpathy, Secretary General, Insurance Institute of India
Mr Inderjeet Singh, Secretary General, General Insurance Council
Mr S N Bhattacharya, Secretary, Life Insurance Council
Mr Arijit Basu, Independent Non –executive Director, Prudential plc UK
Mr Joydeep K Roy, Partner – PwC India , Financial Services Advisory Leader & Global Health Insurance Practice Leader
Mr Atanu Sen, Former MD & CEO, SBI Life Insurance Company Ltd, Former Dy Managing Director, State Bank of India and Chairman, ICC National Expert Committee – BFSI
Mr Sudhin Roy Chowdhury, Former Director LIC, MD & CEO LIC International, Bahrain, Former Member – Life (IRDAI) and Mentor – Insurance – ICC National Expert Committee –BFSI
Closing Notes: Navigating Together into the Future
As we bid adieu to the captivating chapters of the 4th Emerging Asia Insurance Conclave & Awards, we extend our heartfelt gratitude to each participant, partner, and stakeholder who contributed to this monumental event.
PwC India | SBI Life | SBI General Insurance | HDFC Life | IndiaFirst Life | Tata AIA Life Insurance | Star Union Dai-ichi Life Insurance Company Limited | Aditya Birla Health Insurance Company Limited | National Life Insurance, Bangladesh | Aditya Birla Capital | HDFC ERGO General Insurance | Cholamandalam Investment and Finance Company Limited | Insurance Institute of India | General Insurance Council | Life Insurance Council | Bangladesh insurance association (BIA) | IASL | Insurance Institute of Nepal | Myanmar Insurance Association
Your unwavering commitment to excellence, collaboration, and innovation has set the stage for a transformative future in the insurance landscape.
Navigating the ever-evolving currents of our industry, let's carry forward the insights shared, the connections forged, and the spirit of collaborative excellence witnessed during this conclave. Together, we embark on a journey where each milestone becomes a testament to our collective dedication to shaping a resilient, customer-centric, and technologically advanced insurance future.
Here's to a future filled with endless possibilities and collaborative triumphs.
The journey is ongoing, and together, we can navigate the path ahead.
Warms Regards,
Indian Chamber of Commerce
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