Insurance Foundation of India (IFI)An Opportunity to Support a Not for Profit
Organization
Year - 2013
Objectives
Education
Seminar
&
Training
Consumer
Rights &
Welfare
Objectives of IFI
IFI is a Not for Profit making organization set up under Trust Registration Act. 1882 of Government of
India. The objectives and purpose of IFI are:
Objectives of IFI
1. Include Insurance in basic education/ university level
• Inclusion of Insurance as a subject in class 10 & 12 of the schools on all India basis so that insurance Industry gets large reservoir of people to expand in the
rural/ semi urban/urban parts of our country. This will also assist in growth of the Indian Insurance market.
• Inclusion of Insurance as a subject at undergraduate level.
• To support/fund authors and also publish/translate text books in English/ Hindi and all regional as well as vernacular languages.
2. Awards/ scholarships to generate interest among students
• Competition among postgraduate management students so that they undertake/ create quality project reports. Awards to be given.
• Financial support to students undertaking research projects in insurance at PhD level. This support will be in the form of fellowship (higher than stipend paid
by UGC/University)
3. On Line Education
• To set up facilities for online education, training, dissemination of Insurance and Insurance related subjects/information among students, as well as
professional specialists working in Insurance Industry (Companies, Intermediaries, TPAs, Surveyors, Actuaries), masses and general public.
4. To collaborate with world class institutions and set up Educational Institutions
• Intend to collaborate with Schools/ Business Schools/ Institutes/ Universities of international repute (within India and abroad) for achieving the objectives of
the Foundation.
• Setting up of World Class Institute for Actuarial Science Studies.
Education
Seminars and Training
Objectives of IFI
1. Executive Development Programme
• To organize National/ International Conferences/Programme/Workshops for those working for Insurance Industry/ Clients of
insurance companies/NGO’s and for common people who may like to participate and get knowledgeable about the Insurance
policies/products. Large percentage of these to be conducted in Hindi/regional languages.
2. Funding of Members
• To facilitate/ support/ fund members to attend international programmes as well as Conferences/ Seminars/ Workshops with a view
to widen their knowledge of the insurance industry in the world and how the good features can be adapted in Indian conditions.
Presence of Indian delegations in International Seminars will build goodwill for India as one of the fastest growing economy of the
world
Consumer Rights/Welfare
Objectives of IFI
1. Assist the Insurance consumers of India
• By protecting the interests of members by taking up issues with Insurance Companies, Insurance Ombudsman, IRDA, Government of India, Consumer Forums
at various levels on all India basis and any other agency
2. Translation & Publication
• To publish/ translate booklets/ books in English/Hindi and all regional as well as vernacular languages so that masses living in urban/ semi urban/ rural parts
of India can use Insurance as part of their financial planning/ risk management
3. Interface with Media (Press/ Electronic)
• To play a positive role towards projecting the needs/ aspirations of Indian consumers.
4. Inclusion of Insurance as a part of story of film/ TV episode/ documentary films:
• This can be most cost effective medium to spread the message of insurance among masses.
5. Legal Cell
• To set up Legal Cell to provide assistance to insurance customers comprising of individuals/families/ corporate/NGO’s/institutions.
• To work towards “Lok Adalats” to solve the issue of affected consumers.
6. Simple Language
• To work towards change in language of insurance policies in easy to understand language/ format so that consumers/ policy holders can understand the
same. We feel this will result in more and more policies being sold.
Our Achievements1. Executive Development Programme
• Successfully organised Executive Development Programme of international standards on Health Insurance in New Delhi (Nov – 2009) with world class faculty. A
new bench mark on executive training in India was set through programme.
• PDH Chamber of Commerce & Industry and Insurance Foundation of India Successfully organised Executive Development Programme on “Risk Assessment &
Fire Insurance Claims” in New Delhi (on January 30 & 31,2012)
2. Representation to Government of India
• For inclusion of Insurance as a subject in class 10 and 12 as well as the undergraduate level in universities.
• Setting up of 6 Indian Institute of Insurance.
3. IFI Project Report Awards
• Decided to have a competition among post graduate management students of leading management institutes during 2010.
4. Documentary Film:
• 2 different small size film production houses have agreed to consider production of documentary film/ short film, where part of cost will be borne by IFI. Major
cost to be borne by some insurance company - who will be sponsor of the same on various TV channels.
5. Financial support to PhD scholars
• Decided to grant fellowship (higher than the stipend paid by UGC/University) to PhD scholars to undertake Research Projects in the field of Insurance. To
undertake publishing of their books as well.
Our Achievements5 days Executive Development Programme of International Standards in November 2009 :– (Equivalent to a semester course of MBA
class of Kellogg School of Management, U.S.A.)
Prime Faculty
Guest Faculty Comprised of Eminent personalities Indian Insurance Industry
Comments
Topic
Participants
Prof. Howard J. Bolnick conducted an Executive Development Programme.
‘Insurance Market Behavior and Health Insurance’
High profile senior professionals from leading Insurance, Re-Insurance, Health Insurance, HR consulting companies and Insurance Brokerage Firms.
Mr. S.B. Mathur
Mr. M Ramadoss
Dr. Somil Nagpal
Dr. V Ranjan
Mr. Abhijeet K. Chattoraj
Mr. Karthik K
Mr. S K Sethi
Rated as Programme of International standard conducted in India with participants from cross functional areas.
Our Achievements2 days Executive Development Programme on “Risk Assessment & Fire Insurance Claims” in New Delhi (on January 30&31, 2012)
Prime Faculty
Guest Faculty Comprised of Eminent personalities Indian Insurance Industry
Comments
Topic
Participants
Mr. K. S. Vishwanath, Mr. V. N. Arunn, Mr. Sanjeev K. Sharma, Mr. P. S. Ramnathan, Mr. S. K. Sethi
“Risk Assessment & Fire Insurance Claims”
High profile senior professionals from leading Insurance Companies, Surveyors, Corporate buying Insurance, and Insurance Brokerage Firms
Dr. Deepak Goyle
Mr. Vinod Sehgal
Mr. Sagar Sanyal
Mr. M Raja Ram
Rated as Programme of International standard conducted in India with participants from cross functional areas.
Representation to Mr. Kapil Sibal, Minister HR
• Skills Development is the greatest need of Government of India to create employment opportunities for youngsters coming
out of our education system
• This is possible by:
• Inclusion of Insurance as a subject in class 10 and 12. Many of the students will become insurance advisors.
• Inclusion of Insurance as a subject at undergraduate level. Many of the students will join Insurance Companies/ Insurance
Brokerage Firms/ TPAs. Over a period of time this will result in middle management cadre of our Insurance Industry.
• Setting up of Indian Institute of Insurance at 6 locations will cater to long term needs of senior management of Insurance
Industry.
• This project of ours got moral support of ASSOCHAM in Insurance Conference organised in New Delhi in 2009. Reference
made to this initiative in the welcome speech by Mr. M. Ramadoss, Chairman, Insurance Committee.
• National Institute of Open Schooling has introduced Diploma in Insurance which is now available on all India basis.
Our Forthcoming Programme
Role of NGO’s in distribution of Micro Insurance
Planned to be held in June 2013 in association with PHD Chamber of Commerce and will be attended by delegates from
Insurance Companies
Insurance Brokerage Firms
Insurance Agents / Advisors
NGO’s
CSR groups of various corporates
Micro Finance Companies
Consumer Welfare Organizations
Volunteers interested in spreading the message of Micro Insurance
Press & Media
Objective -
Involve Insurance Companies / NGO’s / CSR group of companies in spreading the message of Micro Insurance to those who can not buy insurance but
need it badly.
Sponsorship -
Sponsorship support from Insurance Co’s/ Corporates/ NGO’s will be highly appreciated.
Our Forthcoming Programme2 Days Non Residential Programme on Risk Assessment & Fire Insurance Claims (Specialized Programme for Sugar Mills)
WHY SPECIALIZED PROGRAMME ON RISK MANAGEMENT AND FIRE INSURANCE CLAIMS FOR SUGAR MILLS
Prime Faculty
Participants
Mr. Govind Johri, Mr. Abhay Gujar, Mr S.K.Sethi, Mr. Sagar Sanyal, Mr Sanjeev. K. Sharma
.
Sugar Mills / Firms who purchase fire insurance polices, High profile senior professionals from leading Insurance Companies, Surveyors, Corporates buying Insurance, and Insurance
Brokerage Firms
Fire and allied perils are devastating for any business venture whether it is a manufacturing unit (Sugar Mills) or service
provider such as hospitals and hotels.
Most businesses realize at the time of claim that the claim amount is not payable because proper risk assessment has not
been done at the time of taking the policy. Businesses fail to realize that risk cannot be managed only by taking insurance
policy. It is their responsibility for maintaining the safe environment to conduct the business. The insurance policy will not
cover the risks associated with organization if it fails to fulfill the conditions attached to policy.
This programme will give an opportunity to participants to interact with faculty, who have vast experience of dealing with
businesses and claims worldwide. Participants will be able to learn about common mistakes that cause hardship to
Organizations.
Fire not only causes losses to organization’s assets and life but severely affects the goodwill and future growth of the
organization. In many cases owner, promoter and directors face prosecutions as we have noticed in the case of fire in
certain cinema halls/hospitals in the recent years.
Financial support to PhD scholars
• We intend to encourage PhD scholars to undertake Research in the field of Insurance.
• Fellowships to students undertaking research projects in insurance at PhD level. This support will be higher than the stipend paid
by UGC/ University.
• We will support the research study to be published in the form of books so that it gets known to the Insurance Industry in India
and abroad.
IFI Project Report Awards
• For the year 2011, one of the projects undertaken by us was IFI Project Report Awards
• It is a competition among the postgraduate management students of leading educational institutions in India.
• This project of ours is facilitated with a view to encourage postgraduate management students to undertake Insurance
Industry oriented projects which would help them broaden their analytical knowledge in the Financial Services/ Insurance
Industry.
• Students from 18 leading management institutes will be participated in the competition.
• 13 topics have been short listed for the reports to be submitted.
Full details are available on www.ifingo.org
Why you should support IFI• Insurance Foundation of India is set up under Trust Registration Act. 1882 of Government of India and is a Not for Profit making organization
working exclusively in the sphere of insurance.
• IFI was set-up in 2009 with the objective and purpose of increasing awareness about Insurance in India
• IFI undertakes projects pertaining to training/executive development programme in Insurance sector
• Wants to set up educational institutions for Insurance as main course
• Actively assists and educates the Insurance consumers of India
• Organizes programmes to develop deeper understanding of insurance topics
As you are a leading corporate in Indian Insurance industry we feel that your support will help the growth of the NGO.
……………..it is better to support NGO working for growth of the industry with which you are associated.
Companies earning net profit of Rs 5 crores or more will have to spend 2%
on CSR
If net worth of company is more than Rs 500 crores
Turnover is more than Rs 1000 crores
Net profit is more than Rs. 5 crores
Then the company should spend 2% of the average net profit in past 3 years on Corporate Social Responsibility (CSR)
activities .
Insurance Foundation of India is a NGO and will like to have your support by allocation of funds (by cheque or in kind) for
our projects.
Details of our NGO are available on www.ifingo.org
Amendments in Indian Companies Act will provide:
How you can support IFI ?
Financial support to IFI while finalizing Business Plan for year 2013.You could support us by any of the
following options
Patron Corporate membership of IFI
Rs 2,60,000 for the year (includes Rs. 10,000/- entry fee)
Lump sum funding support for various projects
Say Rs 20,00,000
Sponsorship for specific projects
Financial support to IFI while finalizing Business Plan for year 2013. You could support us by any of
the following options
We plan to have a 1 day Workshop " Support of NGO's in spreading the concept of Insurance among masses", wherein we will have representatives of 200 NGO's from all over India.
Rs. 5,00,000
Nomination of your employees for Executive Development Programme, being organized from time to time
Rs. 30,000 to Rs. 5,00,000
Fellowships to PhD scholars Rs. 20,000 p.m. (No. you can decide)
Scholarships for MBA students5 scholarships of Rs. 20,000 each = Rs.1,00,00
Funds for buying computers Rs. 2,00,000
Translation of books in English/Hindi and all regional as well as vernacular languages
Rs. 2,00,000 to Rs.20,00,000
Funds for IFI Project Report Awards. Your name will be a part of the awards.
Rs. 5,00,000
Funds for producing short film (10 -12 minutes) for being shown on all TV Channels
Rs. 10,00,000
Contact Information
New Delhi Kolkata
Insurance Foundation of India
Om Plaza, 430/7, 1st
Floor,
Sant Nagar, East of Kailash,
New Delhi - 110074
E-mail : [email protected]
Phone : 011- 41324957, 26417566
Mob : 9810090853
Attn. Vice President
13 Pollock Street
Kolkata – 700001
Phone – 9831024041
Contact : Mr. A D Bhatia
Appendix
• Photographs of Programmes
• Appreciation Letters - Chamber of Commerce
• Appreciation Letters - Max New York Life
Munich Re
Royal Sundaram
Executive Development Programme (2009)
Health Insurance
Mr. Krishnan Ramachandran, Chief Operating
Officer, Apollo Munich Insurance, being handed
over cerificate by Prof. Howard J. Bolnick
Group photograph of the participants with Prof.
Howard J. Bolnick
(Few participants are not present)
Executive Development Programme (2012)
Risk Assessment & Fire Insurance Claims
Group photograph of the participants and faculty
members on evening of Jan 31, 2012. Some
participants are not present.
Participants attending the workshop and
participating in discussion.
India Insurance Conference (2012)
The Way Forward
Held on December 12,2012 participants from
industry attending the conference and
participating in discussion.
Honorable Speakers included Mr. Yogesh Lohiya,
Mr Anuj Gulati, Mri. Dipankar Acharya, Ms Malti
Jaswal, Mr. S K Sethi, Mr. Bhavesh Sharma, Mr.
Kapil Mehta, Mr. Harsha Kapoor
Conference on Role and Scope of Sub brokers in Insurance
(2013)This conference has held on March 19, 2013 in association with PHD Chamber of Commerce to discuss &
send conclusion to IRDA
Ms. Pushpa Girimaji Consumer Activist and Columnist
making presentation in Conference on “Role and Scope of
Sub Brokers in Insurance”.
Outcome
Mr. S. K. Sethi Vice President, Insurance Foundation of
India speaking in Conference on “Role and Scope of Sub
Brokers in Insurance”.
Comments have been sent to Insurance Regulatory and Development Authority (IRDA). This Conference has been rated as the most though provoking conference held in the
area of Insurance in New Delhi.
Appreciation Letter from Leading Chamber of
Commerce
PHD Chamber of Commerce and Industry Dec 18, 2012, New Delhi
Appreciation Letter from Leading Chamber of
Commerce
PHD Chamber of Commerce and Industry March19, 2013, New Delhi
Appreciation from Leading Insurance Companies
Dear Mr. Sethi,
This has reference to your letter to Rajesh Sud, CEO & Managing Director, Max New York Life on above mentioned subject. We
believe it is a good idea to award best project report on insurance domain as this will build greater interest of students in this
industry with vast potential....................................................We wish you all the best in your endeavour and look forward to
working with you in your future projects.
Regards,
Abhinav Rahul
Vice President - Corporate Communications I Max New York Life Insurance Co. Ltd.
12th
Floor, DLF Square, Jacaranda Marg, DLF City Phase II, Gurgaon - 122002
Appreciation from Leading Insurance Companies
Dear Sir,
Again I congratulate you on yet another worthwhile initiative!..............................Warm regards and we wish you much success.
Gayle Adams
Senior Actuary & Head of Health
Munich Re India Services Pvt Ltd.
302, Peninsula Towers, Peninsula Corporate Park, Ganpatrao Kadam Marg,
Off Senapati Bapat Marg, Lower Parel, Mumbai 400 013.
Appreciation from Leading Insurance Companies
Dear S.K. Sethi,
Thank you for the proposal and the offer to associate with IFI in the forthcoming event on "IFI Project Report Awards". We do
appreciate the efforts taken by IFI in spreading and building awareness about Insurance, among the masses and the
encouragement to the Students to participate in Building and understanding Insurance................................We wish you all the
very best and success for the "IFI Project Report Awards".
Thanks & Regards,
Dhruba Jyoti Ghosh
Head, Marketing & Communications,
Royal Sundaram Alliance Insurance Company Limited,
4th Floor, Sundaram Towers, Whites Road, Chennai, India