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International Seminar on Diamond, Gems and Jewellery Industry-Role of Specialized Insurance Services
Seminar - Programme Main Page
Date- 11 December, 2015
Venue: Hotel Crowne Plaza, Jaipur
Programme Brochure Programme Schedule Response Form
ORGANIZED BY
PHD Chamber of Commerce and Industry in Association with Insurance Foundation of India (IFI)
Contact Details
Mr. Rajesh Kumar
Programme Coordinator,
Insurance Foundation of India,
Om Plaza, 430/7, 1st Floor, Sant Nagar, East of Kailash, New Delhi – 110065
Phone: 011- 46581577, 41324962
Email: vp@ifingo.org
Conference on Diamond, Gems and Jewellery Industry Insurance
The Gems and Jewellery sector in India plays a significant role in the Indian economy, contributing around 6-7 per cent of the country’s GDP. The domestic gems and jewellery industry had a market size of Rs 251,000 crore (US$ 40.45 billion) in 2013, and has the potential to grow to Rs 500,000–530,000 crore (US$ 80.59-85.43 billion) by 2018. The country's gems and jewellery market could double in the next five years. Traditionally India is deemed to be the hub of the global jewellery market because of its low costs and availability of high-skilled labour. One of the fastest growing sectors, it is extremely export oriented and labour intensive. India's gems and jewellery sector has been contributing in a big way to the country's foreign exchange earnings (FEEs).
Insurance cover is provided as a specialized service by certain insurance companies in India to safeguard the business interests of stakeholders and ensure protection against theft, burglary, losses and the unforeseen.
Since huge money and investments are involved, the risk associated in this sector is of monumental proportions. The businesses of high value goods like jewellery or art can be devastated from a single incident evolving fire or robbery/theft etc. and can have a irrecoverable effect upon industry players those are not adequately protected. Insurance therefore provides all those who are trading in high value goods with the peace of mind needed to enable their business to operate effectively, safe in the knowledge that they are fully protected from such eventualities.
Additionally Insurance is extremely important for retailers, manufacturers or distributors handling high value items of diamonds, gems and jewellery. Uncovered losses can dramatically impact their overall business performance in long term. In addition to the usual risks covered for such high value items insurance plays a major role to safeguard stocks are in transit both domestic and global in nature.
Gems and Jewellery industry of India being an important contributor to the national GDP requires special focus for the exporters. Insurance need to play a major role for the export houses to cover risk of exchange and currency fluctuation in gold, gems and jewellery. Also government policies on controlling gold imports needs to be addressed.
Thus risk assessment and claims management is very important to facilitate the business health of stake holders. Supportive roles of banks dealing in the sector as well as specialized cargo movers and operator including airlines, valuers of diamond and gems are of vital importance. The re-insurer’s, surveyor’s perspective is also vital.
Against this backdrop and to deliberate on such issues PHD Chamber is organizing a International seminar on “Diamond, Gems and Jewellery Industry-role of specialized insurance services” on 11th December 2015 at Jaipur being a major hub of Diamond, Gems and Jewellery business of India.
All stake holders shall have a unique opportunity to hear the experts and interact for business safety growth and prosperity.
Eminent speakers with vast experience of insurance sector, re-insurer from overseas, businesses domains from India and overseas, experts from General Insurance Council, leading general insurance companies, Bankers, gems and jewellery valuer, insurance broking firms, surveyor, and representative from diamond, gems and jewellery industry would impart and share their knowledge and open to interact with participants.
TOPICS TO BE COVERED (The Seminar will feature and address the following issues)
  • Risk assessment – it’s necessity for diamond, gems and jewellery industry
  • Case Study & Presentation by IFFCO TOKIO General Insurance
  • Security Risks for DIAMOND, GEMS AND JEWELLERY INDUSTRY (International Perspective with Film)- By International Expert
  • Managing Claims In The Diamond, Gems and Jewellery Industry-
    1. Client’s Perspective
    2. Insurance Brokers Perspective
    3. Re-Insurer perspective (overseas perspective and best practices)
    4. Valuer’s Perspective
    5. Cargo Airlines/ Courier Perspective
    6. Bankers Perspective
    7. Surveyor’s Perspective
    8. Insurer’s Perspective
    9. Consultants Perspective
Objective of the seminar
  • To provide a platform for open house discussion between policy regulators, government and stakeholders
  • Role and importance of insurance in safeguarding business interest and protection against theft, burglary, losses and unforeseen threats (Riots/ Terrorism).
  • To focus on challenges in risk assessment and insurance claims management through case studies
  • To provide new innovative strategies through national and international best practices to enhance the business health of this niche market
  • Creating awareness on all the aspects of insurance and its necessities for high values Diamond, gems and jewellery industry
  • Describe the supportive role of insurers, re-insurers, bankers, valuers, cargo-airlines, surveyors, brokers in insuring high value diamond gems and jewellery industry so that this industry can grow to greater heights.
  • Role of insurance in exports, imports and stock in transit in diamond, gems and jewellery industry
  • Re-insurers roles in the sector with foreign country perspectives
TARGET GROUPS
  • Exporters, Retailers, Distributors, manufacturers, Dealers, Wholesalers of Diamond Gems and jewellery
  • Representatives of the state Government
  • Representatives of policy regulators and authorities
  • Country diplomats
  • International & National Insurance experts
  • Gemologists
  • Valuers
  • Institutes of the Sectors
  • Cargo Airlines/ Couriers
  • Bankers
  • Re-insurance Companies
  • Prominent Insurance Companies
  • Insurance Brokers/ Consultants
  • Surveyors, Loss Assessors
  • Major players related with diamond, gems and jewellery valuation and grading 
  • Media Personnel
  • Members from Chambers of Commerce and Industry - Associations representing various segments of the insurance industry
INAUGURATION/ KEYNOTE ADDRESS
Welcome Remarks: President, PHD Chamber   Theme Presentation: Mr. Yogesh Lohiya, Chairman, Insurance Committee, PHD Chamber and Managing Director & CEO, IFFCO-Tokio General Ins.
Address by Guest of Honour: Dr. A. K. Saxena, Chairman-Cum-Managing Director, The Oriental Insurance Company Ltd   Address by Guest of Honour: Mr. K Sanath Kumar, General Manager & Director, GIC
Inaugural Session-Moderation by: Mr. Debjit Talapatra, Director, PHD Chamber   Vote of Thanks: PHD Chamber Secretariat
EMINENT SPEAKERS
CASE STUDY SESSION
  Insurance and Risk Assessment for DIAMOND, GEMS AND JEWELLERY INDUSTRY with Emerging Trends – Mr. Abhay Kumar, EVP, Retail Lines, IFFCO TOKIO General Insurance     Challenges in Security Aspects for DIAMOND, GEMS AND JEWELLERY INDUSTRY
PANEL DISCUSSION
Moderation by: Mr. S.K. Sethi, Co-Chairman, Insurance Committee, PHD Chamber & VP, Insurance Foundation of India (IFI)   Speaker: Mr. Vimal Surana, Convenor, Jaipur Jewellery Show
Speaker: Mr. Vipul Shah, Chairman, GJEPC, India   Speaker: Mr. Ramaswami, GIC Re.
Speaker: Mr. Parimal Shah, Mumbai   Speaker: Mr. Khushal Zaveri, Mumbai
Speaker: Cargo Airlines/ Courier Perspective   Speaker: Valuer’s Perspective
DELEGATE FEE
Free   Download Registration Form
VENUE & DATES
Duration: 1Day
Venue: Hotel Crowne Plaza, Jaipur
Date: Friday –11 December 2015
Time: 03:30 P.M. to 7:15 P.M.
ACCOMODATION
This is non residential programme, however good hotels/ guest houses are available all over Jaipur. Programme Coordinator will be ready to assist you in arranging the same (if required)
ABOUT THE ORGANIZERS
PHD Chamber of Commerce and Industry, established in 1905, is a proactive and dynamic multi-State apex organisation working at the grass-root level and with strong national and international linkages.
The Chamber acts as a catalyst in the promotion of industry, trade and entrepreneurship. PHD Chamber, through its research-based policy advocacy role, positively impacts the economic growth and development of the nation.
PHD Chamber is more than an organisation of the business community, as it lives by the chosen motto ‘In Community's Life & Part of It’ and contributes significantly to socio-economic development and capacity building in several fields.
PHD Chamber's geographical span covers the 12 States of Bihar, Chhattisgarh, Delhi, Haryana, Himachal Pradesh, Jharkahnd, Jammu & Kashmir, Madhya Pradesh, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand and the Union Territory of Chandigarh.
Apart from its headquarters in New Delhi, the Chamber has regional offices in Jammu, Shimla, Chandigarh, Lucknow, Jaipur and Bhopal. PHD Chamber has a direct membership of over 1,600 corporate entities and serves more than 45,000 indirect members through 200 Association Members and 8 Secretarial Affiliates. The membership covers trade and industry.
Insurance Foundation of India (IFI), is set up under Trust Registration Act 1882 of Government of India as a not for profit organization. The main objective of IFI is to promote awareness of Insurance among masses. It also focuses on education/ seminar programmes to improve capabilities of those working for Insurance industry.
In past IFI has successfully organized various Executive Development Programmes of International standards in India with world-class faculty.
Successfully organized Vocational Skills Enhancement Programme
1- 5 days Programme was on Health Insurance and was held in New Delhi (Nov–2009) with world class faculty. A new bench mark on skills enhancement in India was set through this programme. One of the highly appreciated programmes has been this 5 days Executive Development Programme (Equivalent to a semester course of MBA class of Kellogg School of Management, U.S.A.) which was conducted by Prof. Howard J. Bolnick on “Insurance Market Behavior and Health Insurance”.
2- In association with PHD Chamber of Commerce & Industry it has successfully organized following Programmes:
  • Seminar on Agriculture Insurance in India 2015
  • Seminar on Financial Risks & Liability Insurance 2015
  • Interactive Session on "Insurance Marketing Firms" 2015
  • Seminar on Risk Assessment and Commercial (Fire & Marine) Insurance Claims (2014)
  • Conference on "Role of NGO’s in distribution of Micro Insurance" (2014)
  • Conference on Role and Scope of Sub brokers in Insurance (2013)
  • India Insurance Conference 2012 - The Way Forward
  • 2 Days Non Residential Programme on Risk Assessment & Fire Insurance Claims (2012)
3- Took up successfully campaign with Government of India for following:
a - For inclusion of Insurance as a vocational subject in class 10 and 12 as well as at the undergraduate level in universities. National open school has introduced Diploma in Insurance. This is a good example of Vocational Skills Enhancement, which will result in increased opportunities for employment of youngsters.
b - Working on setting up of 6 Indian Institute of Insurance by Government of India so that Indian Insurance Industry has Access to dedicated cadre of committed professionals.
c - The achievements of the NGO are covered in electronic/ print media. Successfully participated in the Economic Times Insurance Summit 2014 held in Mumbai.
d - Micro Insurance project for Insurance of 352 Caddies of Delhi Golf Club has been appreciated as most professionally handled project by the Trustees as well as Caddies.
e - Pradhan Mantri Suraksha Bima Yojana (PMSBY) – Rs. 12 a Year Accidental Death & Disability Cover: Our campaign resulted in 293 persons getting insured.
f - Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) - One year life cover of Rs 2 lakh to all savings bank account holders in the age group of 18-50 years, covering death due to any reason, for a premium of Rs 330 per annum per subscriber. Our campaign resulted in 79 persons getting insured.
g - Scholarship awarded to 2 students studying in rural part of India
h - We are active particularly in LinkedIn/ Social Media for growth of Insurance Industry in India. Our comments are highly appreciated by thousands of individuals.
Please send the Registration to:
Mr. Rajesh Kumar
Programme Coordinator
Insurance Foundation of India
Om Plaza, 430/7, 1st Floor, Sant Nagar, East of Kailash, New Delhi – 110065
Phone: 011- 46581577, 41324962
Email: vp@ifingo.org
 
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