The Insurance Institute of India (III) conducted a seminar on June 30, 2026, themed "Reimagining Insurance in a Rapidly Transforming Risk Landscape," as part of its 71st Foundation Day celebrations. The event brought together industry leaders to discuss challenges and opportunities shaping the insurance sector in the 21st century.
Seminar Focus and Objectives
The seminar aimed to deliberate on emerging challenges and transformative opportunities, particularly in the context of evolving economic, technological, environmental, and societal risks. Discussions centered on innovative insurance models, digital transformation, regulatory developments, climate resilience, cyber risk management, and inclusive insurance solutions for a sustainable and future-ready ecosystem.
According to III, the contemporary risk landscape is increasingly influenced by geopolitical tensions, macroeconomic volatility, climate change, and rapid technological advancements. These factors necessitate a fundamental rethinking of insurance products, distribution, and management practices, with emphasis on resilience, customer-centricity, and sustainability.
Inaugural Session and Key Speakers
During the Welcome Address, Shri P. Jaipuria, Secretary General of the Insurance Institute of India, highlighted the Institute's commitment to strengthening professional capabilities and fostering collaborative engagement among stakeholders.
The Inaugural Session featured addresses by Shri Ratnakar Patnaik, Deputy Chairman, BOE, III & MD, LIC of India; Mrs. Girija Subramanian, President, III & CMD, The New India Assurance Co. Ltd.; and Chief Guest Shri R. Doraiswamy, CEO & MD, LIC of India. They emphasized the importance of resilience, governance, and sustainable growth in the evolving insurance landscape.
Mrs. Girija Subramanian and Chief Guest Shri R. Doraiswamy highlighted the need for innovation, customer-centric strategies, and institutional strengthening to effectively respond to emerging risks and opportunities. The Inaugural session concluded with a Vote of Thanks by Shri Kedar Sant, Secretary, Insurance Institute of India, who thanked all speakers, panelists, and participants.
Thematic Tracks: Fireside Chat and CDO Panel
The seminar included two key thematic tracks. The first was a Fireside Chat on "Building Sustainable Growth with Customer Trust and Cost Discipline," led by Shri Rakesh Jain, CEO of IndusInd General Insurance, and moderated by Shri Shiv Kumar Singh, Faculty (General), College of Insurance. The discussion focused on transparency, service delivery, and grievance redressal mechanisms.
The second track was a CDO Panel on "Strengthening Suitability, Disclosure, Sales Governance and Customer Outcomes." The panel included Smt. Anu Chaudhuri-Ghosh, Head Marketing and Business Administration, Star Union Dai-Ichi Life Insurance; Shri Atul Mehta, CDO-Institutional Business, Bajaj General Insurance; Shri Atul Srivastava, Chief Product and Distribution Officer, Ageas Federal Life Insurance; Shri Gaurav Saxena, Chief Distribution Officer - Bancassurance, Aditya Birla Sun Life Insurance; and Shri Kamal Bharadwaj, Chief Distribution Officer - Corporate Solutions, TATA AIA Life Insurance. The panel addressed mis-selling concerns and emphasized stronger governance and alignment with customer needs. It was moderated by Dr Ramesh Kumar Satuluri, Faculty (Research & Life), College of Insurance.
Key Takeaways and Participation
The discussions reinforced that sustainable growth and customer trust are interconnected and require integration of strategic, operational, and ethical considerations. Strengthening governance, ensuring fair practices, and leveraging technology were highlighted as critical for navigating the evolving risk landscape.
The seminar witnessed participation from insurance professionals, customer service managers, sales managers, actuaries, and risk managers. The programme concluded with a Vote of Thanks by Shri Manish Raikar, Secretary, Insurance Institute of India, who thanked all speakers, panelists, and participants.
