The transformation of the insurance industry from a Government monopoly to private
owned is evident to the man on the street due to the high visibility of the Government and private insurance companies. Our cover story reflects the aspirations of the companies seeking quality growth in the future.

December’s cover story on ‘The Decade of Transformation’ elicits opinion from institution heads. These institutions are the Life and General Insurance Councils, two educational training institutions Insurance Institute of India and Financial Planning Standard Boards and the National Federation of Insurance Field Workers of India and the Life Insurance Agents Federation of India representing agents.

The precursor to the liberalisation of the Indian insurance industry in 1999 was the tabling of the Malhotra Committee report in parliament in 1994. What have these 10 years of change achieved in terms of competition, publicity, products and quality vs quantity? These questions are answered by agency professionals and company heads.