Experts Views on the direction in which insurance intermediation is headed

As you read this article, World Cup fever would be at its highest pitch and, for over a month, every man, woman and child in India will eat, sleep and breathe cricket.
What does insurance have to do with cricket? A lot! Read what Mr B Mathews Prabhakaran says.

Four years ago, the Indian General insurance industry was on the brink of a huge change that is affecting them in many ways yet. Detariffing, or removal of price controls on various classes of General insurance business, was brought in from January 1, 2007. Each company was free to quote its own premium rates for [...]

Mr M Ramadoss, the outspoken Chairman-cum-Managing Director of The New India Assurance Company, has worked out a strategy to use individual agents to the maximum to achieve his plans for the company. Agents are the most cost effective distribution method, he says in this interview with K Nitya Kalyani, and he is putting things in place for New India to nurture and celebrate its agents, unlike in the past.

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.

M Ramadoss takes over as CMD of New India Mr M Ramadoss took over as Chairman-cum-Managing Director (CMD) of The New India Assurance Company, Mumbai, on December 30, 2009. He was earlier CMD of the Oriental Insurance Company. Dr R K Kaul has taken over CMD of Oriental. Born on December 2, 1953, Mr Ramadoss [...]

Mr B C Bhatia and his father, Development Officers at one point of their career, started off as delivery boys. Mr B C Bhatia believes in starting at the bottom and rising progressively. Even as DO, he did not get his business on a platter, he had to struggle for it.

Mr Rajesh Merchant, a General insurance agent, has seen both the ups and downs. But, as he is in the long-term game, it does not affect him. His offer of Rupee 1 per thousand for an insurance policy to a multiplex builder has seen his business grow.

A group of four private sector General insurance companies, led by Reliance General Insurance Company including HDFC Ergo General Insurance Company, Bajaj Allianz General Insurance Company and IFFCO-Tokio General Insurance Company has won a one year contract to insure 134 of Air India’s aircraft for Rs 122 crore, according to media reports. The public sector [...]

This year results will show that no company has made profits, not even
after investment. Detariffing, the economic slowdown, terrorist events and
Satyam have all taken their toll, says Mr Gaurav Garg, Managing Director and CEO of Tata AIG General Insurance Company.