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Year - 2010 An Opportunity to Support a Non Profit Organization Insurance Foundation of India (IFI)

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Presentation on theme: "Year - 2010 An Opportunity to Support a Non Profit Organization Insurance Foundation of India (IFI)"— Presentation transcript:

1 Year An Opportunity to Support a Non Profit Organization Insurance Foundation of India (IFI)

2 Objectives Education Seminar & Training Consumer Rights & Welfare Objectives

3 IFI is a non profit making organization set up under Trust Registration Act of Government of India. The objective and purpose of IFI are Education 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.

4 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 Seminars and Training Objectives

5 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. Consumer Rights/Welfare Objectives

6 Our Achievements (2009) 1. Executive Development Programme Successfully organised Executive Development Programme of International standards in New Delhi (Nov – 2009) with world class faculty. New Bench Mark has been set up. 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 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 sponsorer 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.

7 Our Achievements (2009) 5 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 Next Executive Development Programe 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 Proposed to be held in November, 2010, Mumbai/ New Delhi. We are open to your suggestions for programme to be conducted.

8 Executive Development Programme (2009) 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)

9 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 Reference made to this initiative in the welcome speech by Mr. M. Ramadoss, Chairman, Insurance Committee.

10 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.

11 IFI Project Report Awards For the year 2011, one of the projects undertaken by us is the 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 participating in the competition. 13 topics have been short listed for the reports to be submitted. Full details are available on

12 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. 12 th Floor, DLF Square, Jacaranda Marg, DLF City Phase II, Gurgaon

13 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

14 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

15 Why you should support IFI Insurance Foundation of India is set up under Trust Registration Act of Government of India and is a non 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 in which you are associated.

16 How you can support IFI ? 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 Financial support to IFI while finalizing Business Plan for year You could support us by any of the following options

17 Sponsorship for specific projects 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, proposed to be held in November, 2010, Mumbai/ New Delhi and to be conducted by Prof. Howard J. Bolnick Rs. 30,000 to Rs. 5,00,000 Fellowships to Phd scholarsRs. 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 computersRs. 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 ( minutes) for being shown on all TV Channels Rs. 10,00,000

18 Contact Information New DelhiKolkata CanadaUSA Ontario 1155, Blueheron Blvd, Mississauga L5V 2C8, Ontario Tel # Fax # Contact : Kamal Bhatia 151 N. Michigan Ave Chicago, IL Phone: Contact : Prerak Sethi Insurance Foundation of India 449 Kailash Tower 2 East of Kailash New Delhi Phone : , Mob : Attn. Vice President 13 Pollock Street Kolkata – Phone – Contact : Mr. A D Bhatia


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