WHY SPECIALIZED INTERACTIVE SESSION ON INSURANCE MARKETING FIRMS

Efforts are being made by Finance Ministry and Insurance Regulatory & Development Authority (IRDA) to increase Insurance penetration in the country.

During February, 2015 Insurance Regulatory and Development Authority has released regulations to govern Insurance Marketing Firms. Details are available on https://www.irda.gov.in/ADMINCMS/cms/frmGeneral_NoYearLayout.aspx?page=PageNo2443This is a new and welcome development towards increasing the role of Insurance Intermediaries.

• Insurance Surveyors/ Loss Assessors
• Share Brokers
• Commodities Brokers
• Customer Service Centers (CSC’s)
• Insurance Agents
• Mutual Fund Distributors
• Retired Insurance Personnel
• DSA of Banks handling home loans/ auto loans/ LAP/ credit cards

to upgrade themselves and increase the business manifold to take the benefit of growth taking place in the Districts/ Rural Area in the country.

We are aware of that existing Insurance intermediaries operating in the country are:

• Insurance Agents
• Insurance Brokerage Firms
• Corporate Agents
• Banc assurance
• CSC’s
• Consultants

As per the policy of the Government of India the concept of Financial Inclusion has to be taken to all parts of the country. We are convinced that addition of IMF as an Insurance Intermediary will be a great step towards increasing penetration of insurance in the interior districts/ rural areas of the country.

Insurance Marketing Firms (IMF) Regulations are a great opportunity for any entrepreneur or existing firm for setting up IMF in one district to be selected by the entrepreneur. Assuming that it grows at a good rate then IMF can over period of time have number of branches in the district. It can be:

It can also undertake work/ assignments of Surveyor/ Loss Assessment.

WHO SHOULD ATTEND THE PROGRAMME?

This interactive session will be mainly in discussion form where faculty drawn from all over the country as well as different segments of financial services provider will be interacting with delegates. This will give a combined view point of

• IRDA (Regulator)
• Academic Faculty
• Business Development Consultant
• Life Insurance Company
• General Insurance Company
• Share Broker/ Commodities Broker
• Mutual Funds
• Insurance Surveyor/ Loss Assessor

Persons from Industry will discuss the practical aspects towards

• Licensing of IMF by Regulator
• Points to be kept in mind while setting up of IMF and applying for Licence
• Role & Responsibility of IMF
• Business Opportunity
• How to grow business as IMF?

WHAT YOU CAN EXPECT FROM THE PROGRAMME

This executive development interactive session will provide participants with comprehensive, multifunctional perspective on how to setup & manage IMF successfully.

SOME KEY TAKE AWAYS FOR VARIOUS STAKEHOLDERS WILL BE:

• Understanding of Regulations
• Responsibility
• Is it a good business decision to set up IMF?
• Growth possibilities in IMF by selling other financial products – Stock Market/ Commodities Trading/ Mutual Fund/ Insurance (Life/ Non Life/ Health)/ Pension funds/ Fixed Deposit/ Debentures/ NCD’s

TOPICS TO BE COVERED

Legal Aspects in formation (Licence)

• Role/ Responsibility
• Selling/ Servicing of Insurance
• Surveyor/ Loss Assessor
• Activities like Share Broking
  1. Commodity Brokers
  2. Mutual Funds
  3. Pension Funds
  4. Post Office Products
• Hiring/ Training of Manpower (skill development at district level)
• How to be a successful IMF?
• Growth prospects of insurance industry and value addition of IMF

DELEGATE FEE

Participation fee: Rs. 2000/- per individual participant.
Group participation fee (team of 5 persons): Rs.1500/- each.
Group participation fee (team of 10 persons and above):Rs.1000/- each.