A Conference on Insurance Distribution Channels (IDC)
|Event Date/Time: Jan 16, 2008||End Date/Time: Jan 17, 2008|
|Registration Date: Jan 16, 2008|
|Early Registration Date: Dec 16, 2007|
Creating Successful Synergies
The Insurance industry in India has been progressing at a rapid pace since opening up of the industry in 2000. As per Assocham, India’s premier apex chamber of industries, the country’s domestic insurance market would touch around US$ 60.5 Billion by the year 2010 from existing size of about US$ 10.2 Billion. According to the Insurance Regulatory and Development Authority (“IRDA”), new business premium income from April 2006 to February 2007 amounted to INR579.38 billion (US$13.18 billion), registering an impressive 120% growth over the same period last year.
The Insurance industry graph is definitely ascending. Distribution accounts for the largest element in insurer’s cost and affects profitability. The size of the country combined with problems of connectivity in the rural areas, makes insurance selling in India a difficult proposition. The distribution capabilities strongly influence product design in insurance. The distribution channels have a direct impact on the insurer’s market image.
Emergence of alternative channels such as Bancassurance and Internet is reshaping the insurance industry. India with a population of more than a billion people offers unlimited growth potential especially in the rural areas. How do the insurance companies reach them in the most profitable and cost effective way? What are the challenges and opportunities in dealing with multi distribution channel model?
This two day conference will focus on the main issues and challenges in managing different distribution channels to create a successful synergy leading to profit maximisation. The Conference will also provide a right platform for networking and syndication for appropriate channel partners.
The key areas this conference to cover would include:
· Alternative channels of distribution
· Building an integrated multi-channel distribution model
· Convergence of banking and insurance – Bancassurance –Is it the most successful channel?
· Digital transformation and emergence of ecommerce and ebanking and it’s effect on insurance distribution
· Difference between commercial banking and insurance culture
· Case studies of life and non life insurance distribution models
· Achieving the right concept of cooperation and integration between distribution channels
· Micro-insurance and rural market
· Distribution channel models for the future
Who Should Attend
Third Party Administrators
Personal Finance Portals
Online Financial Transaction Services
Independent Financial Advisors