SRM INSTITUTE OF SCIENCE & TECHNOLOGY- RAMAPURAM

Faculty of Liberal Arts and Business Studies

Title of the Event: Seminar on the Topic “ Opportunities and Scope in Insurance Industry in India”

Date: 26.02.2025

Time: 12.45 pm to 2.00 pm.

Venue: East Block, Room Number 110

Total Attendees:

Name of the Speaker : Mr.Raghavan K.S

Profile of the Speaker

Lead Trainer, Royal Sundaram General Insurance Co. Ltd.,

Event Mode: Offline

Incharges: Event Convenor : Dr,V.Deepa, PC and Associate Professor – Commerce (A&F) Event Coordinators: Dr.P.Raj kumar, Assistant Professor – Commerce(A&F) Dr S.Pratiksha Assistant Professor – Commerce (A&F)

Objective of the Event

Foster an Understanding of the Insurance Sector – Educate young minds about the fundamentals of the insurance industry, including its role in financial security, risk management, and economic stability. Provide Practical Knowledge – Offer insights into various types of insurance, regulatory frameworks, underwriting processes, claim management, and career opportunities within the industry. Connect with Industry Experts – Facilitate networking with professionals, policymakers, and insurance executives who can provide valuable guidance, share industry experiences, and mentor aspiring individuals. Explore Growth and Emerging Trends – Highlight the evolving landscape of the insurance sector in India, including digital transformation, InsurTech advancements, and emerging market opportunities. Encourage Career and Business Opportunities – Motivate participants to explore career prospects, entrepreneurial ventures, and investment opportunities in the insurance sector through workshops, case studies, and real-world insights.

SUMMARY OF THE EVENT

Dr P.Rajkumar, Assistant Professor, Department of Commerce delivered the welcome address. In his speech he warmly greeted the gathering and extended a heartfelt welcome to the guest, he expressed he appreciation to Mr.Raghavan K.S for accepting the invitation to share he insights.

SEMINAR SESSION

The seminar “Opportunities and Scope in the Insurance Industry in India” will emphasize the growing need for financial security and risk management in an evolving economic landscape. With a large, youthful population and increasing financial literacy, India presents significant opportunities for the insurance sector to expand. Rising disposable incomes, government-backed insurance schemes, and digital advancements are driving the industry’s growth. The sector’s expansion is further fueled by policy reforms, foreign investments, and the introduction of innovative insurance solutions tailored to diverse customer needs.

The Indian insurance industry consists of life insurance, general (non-life) insurance, and health insurance, each playing a crucial role in financial protection. Life insurance ensures long-term security through savings and investment-linked plans, while general insurance covers risks related to motor, home, travel, and businesses. Health insurance is witnessing rapid growth due to rising medical costs and the demand for accessible healthcare. With insurance penetration still below global standards, the industry holds immense potential for career opportunities, entrepreneurship, and investment, making it a key sector for economic stability and financial inclusion.

VOTE OF THANKS

Dr.S.Pratiksha, Assitant Professor, Department of Commerce proposed the vote of thanks, expressing her sincere gratitude to Mr.Raghavan K.S , for delivering and engaging and insightful session on Financial security. He acknowledged the valuable knowledge shared aware of the importance of securing their financial future, demand for life insurance products like term plans, ULIPs (Unit Linked Insurance Plans), and retirement plans is increasing

OUTCOME OF THE PROGRAM: