The Hindu : Andhra Pradesh News : A ‘healthy’ insurance sector foreseen

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Sunday, Mar 30, 2008
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Andhra Pradesh

Andhra Pradesh

A ‘healthy’ insurance sector foreseen

Staff Reporter

ANANTAPUR: Health insurance could go a long way in developing insurance sector in a populous country like India in the years to come, Vice Chancellor of Sri Krishnadevaraya University (SKU) A. Rama Rao said here on Saturday. The insurance companies need to focus on the health insurance by introducing innovative policies, he said.

Inaugurating a two-day national seminar on ‘Insurance industry – issues and challenges’ organised by S.K. Institute of Management (SKIM) on the campus of the university here, he said the society could become more vibrant with different insurance products in the world of changing lifestyles and priorities.

Country head of First Call India Equity Advisors V.V.L.N. Sastry explained the concept of insurance retrospectively. Managing Director of Nvidia Graphics and convenor of the ADI Foundation J.A. Chowdary said the Indian insurance sector was still in a developing stage with a host of opportunities. He desired better awareness in the society and urged the insurance companies to come up with new products (policies) frequently to sustain growth.

Chief Regional Manager of the Agriculture Insurance Corporation of India P. Nagarjun said Anantapur district was a top priority for them in crop insurance scheme. The insurance companies were coming out with innovative products like weather insurance to help the farming community.

SKIM head K. Ramakrishna Reddy explained the importance of risk management. Lalitha of IIM Indore, IRDA Director General D.V.S. Sastry and Director of RDT Ecology Centre Y.V. Malla Reddy presented papers. A large number of other participants also presented papers.

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