Tag: Conference

Download knowledge paper on Health Insurance 2042

Why need for Specialized Conference on Health Insurance?
Under the leadership of Hon’ble Prime Minister Narendra Modi Health Care got due importance, especially during pandemic in 2020-21. The nation has realized the importance of health care infrastructure needed for building a Healthy India, Healthy Nation.
• In the country we have seen tremendous growth of Health Insurance since 2001 when the insurance sector was opened to fulfill the needs of the masses. In last 20 years – premium income has gone up from Rs 690 crores to Rs 73000 crores which is an increase of 10580 %
• The number of companies offering health insurance has increased from 4 in 2000 to 28, which includes 5 standalone health insurance companies.
• In view of growth in Indian economy (soon going to be 5 trillion US $ economy) we find a great opportunity for growth in this sector during next 20 years. We are sure that Healthy Indians are needed for making our country as the second largest economy of the world.
• Assuming 20% growth we foresee in next 20 Years Health care spending will increase from Rs 21,15,000 crores to Rs 8,46,00,000 crores.
• Major part of this spending will be coming from health insurance and present pattern of spending from personal savings or borrowings by the individuals and families will shift.
We intend to have this important conference to discuss the innovation, change in thinking, out of box thinking required so that Health Insurance portfolio is put on strong footing, which is a must for fulfilling the wishes of large population. Major segment will be need of 25 crores senior citizens.

Target Audience will comprise of:
• Officials of Health Ministry (Governments of India)
• Officials of Health Ministry (State Governments)
• Officials of National Health Authority & National Digital Health Mission
• Insurance Companies
• Reinsurance Companies
• Insurance Broking Firms
• TPA’s
• Senior Management & Officials from Health Care Service Providers (Hospitals, Diagnostic Labs, Pharma Companies, e-Commerce Pharmacies, Medical Equipment Manufactures)
• Consultants/ Claims Consultants/ EB Consultants
• Wellness Program Companies / Service Providers
• Surveyors / Investigators
• Insurtech/ Technology Companies working towards taking Health Insurance to the next level of growth, supporting India to emerge as 5 Trillion US $ economy.

Points to be covered in the Conference are:
• Should Health Insurance be made mandatory for all or only for Senior Citizens?
• Discussion on Niti Aayog Report ” Health Insurance for India’s Missing Middle”
• Investment & improvement of health care infrastructure is needed in a big way to support & manage the needs of the masses.
• What Product innovations are needed in Health Insurance policies?
• Necessity for use of Technology in all aspects of insurance from proposal filling to claim settlement.
• OPD coverage – is the need of all stake holders
• What can we learn from other countries? Brazil and Chile are good examples to be considered.
• Availability of cheaper, sufficient loans along with better attractive taxation structure are essential for growth of healthcare sector.
• Higher FAR should be allowed in all metro cities for hospitals – more beds per square meter of land

What you can expect from the Conference?
Realize the difficulties being faced by different stake holders and understand Government thought process to have growth of this great sector.

Some Key Take Away for Various Stake Holders will be:
• Understanding of the expectations and needs of customers so that higher standards for service can be fixed
• Important Issues in Health Insurance
• Government thinking and growth projections
• Role of Technology in monitoring of Claims
• Will we have more stand-alone health insurance companies being established in the next 10 years?
• Level of FDI investment expected to come in next 20 years in hospitals/ health insurance companies?
• Will Insurers become investors in hospitals to set up bench mark standards in this industry ?
• Will Data Analytics, AI & Machine learning change the scene?
• Is digital India expecting innovations & speed in underwriting and claims settlement?
• Are we looking for revamped TPA’s with high focus on technology to participate in this growth?

Will there be market disruption and increased role for insurers in supply chain process of medical devices, pharma products?
Will OPD become the dominant part in marketing strategy of health insurance?

Knowledge Paper:
Prepared by faculty of National Insurance Academy, Pune will be released & copy of the same will be given to all delegates.

Accommodation:

This is a nonresidential Programme, however good hotels/ guest houses are available in surrounding areas.

Delegate Fee:

• No Participation fee: but pre-registration is required.

In view of importance being given to Micro Insurance & Social Insurance PHD Chamber of Commerce & Industry and Insurance Foundation of India have decided to organize this conference in New Delhi on June 20, 2013

Mr. P. Chidambaram, Finance Minister in his budget speech on February 28, 2013 has emphasized the need to increase the penetration of Insurance/ Micro Insurance/ Social Insurance through various steps. Some of these are:

• Group insurance products will now be offered to homogenous groups such as SHGs, domestic workers associations, anganwadi workers, teachers in schools, nurses in hospitals etc.
• Banking correspondents will be allowed to sell micro-insurance products.

Recently, IRDA and GIC council have launched PAN India Insurance Awareness Campaign with the objective of increasing Insurance penetration. Insurance Companies (Life/ Non-Life/ General/ Health) are keenly looking at NGO channel to emerge as the effective distribution channel for Micro Insurance & Social Insurance and increase Insurance Penetration as normal distribution channel have not been able to deliver the insurance products with considerable success due to various reasons.

Against the above backdrop the Banking & Financial Services Committee of PHD Chamber of Commerce & Industry and Insurance Foundation of India have decided to organize Conference on “Role of NGO’s in distribution of Micro Insurance & Social Insurance” in PHD House on June 20, 2013. The eminent speakers who will be speaking in the conference are:

In addition to these speakers senior officials from Department of Financial Services, Govt. of India, Delhi Government, Financial Institutions and Insurance Companies are also being invited to address the delegates

The delegates will be coming from:

• Insurance Companies
• Insurance Brokerage Firms
• Insurance Agents/ Advisors
• NGO’s
• CSR groups of various Corporates
• RWA’s (Resident Welfare Associations) managing group housing societies or localities
• Credit & Thrift societies (small savings) Co Operative societies
• Milk Co Operative Societies/ Federations
• Micro Finance Companies
• Consumer Welfare Organizations
• Individual volunteers/ social workers interested in spreading the message of Micro Insurance & Social Insurance.

One of the achievable of the conference will be strengthening the relationship of Insurance Companies with NGO’s to distribute Micro Insurance & Social Insurance Products like:

• Term Insurance
• Accident Insurance
• Health Insurance

PHD Chamber of Commerce & Industry is one of the prestigious Chambers in the country. It is 108 years old and thus, it takes the pride of being one of the oldest Chamber’s in the country. PHD Chamber of Commerce and Industry, is a proactive and dynamic multi-State apex organization working at the grass-root level and has strong linkages in 12 states of Bihar, Chhattisgarh, Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Madhya Pradesh, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand and the he Union Territory of Chandigarh.

PHD Chamber strives towards the rapid development of the States. Apart from its headquarters in New Delhi, the Chamber has regional offices in Jammu, Shimla, Chandigarh, Lucknow, Jaipur and Bhopal. It focuses on six thrust Areas 6 thrust areas i.e. Industrial Development, Health, Education & Skill development, Housing, Infrastructure and Agriculture & Agribusiness.

Insurance Foundation of India is a not for profit organization (Registered under Indian Trust Act, 1882 Government of India). The main objective of the organization is to spread the message of Insurance among masses. It organizes thought provoking conferences towards growth of Insurance Industry in the country. The comments and view point is sent to authorities for consideration/ decision making.

The Insurance industry world over is going through a challenging phase due to the general economic slowdown and this phase is expected to continue for some time. The Indian insurance industry has grown at a rapid pace in last decade and despite the global economic crisis, the Indian non-life insurance market including the health Insurance continues to grow at a healthy rate.

In times when the Insurance macroeconomic environment is undergoing transformation due to series of regulatory changes and anticipated reforms related to increase in FDI limits, reduction in paid up capital for standalone health Insurance companies etc. the insurance companies are devising future strategies in competitive market to increase the market share and improve profitability.

The Indian Insurance industry needs to realign itself for sustainable future growth, brace up for the challenges of the next decade and capitalize on the opportunities offered. Realizing the potential requires a concerted effort from the stakeholders.

Against the above backdrop, PHD Chamber proposes to organize a India Insurance Conference 2012 – The Way Forward on 12th December, 2012 at PHD House, New Delhi to deliberate these and related issues, by means of presentations and a panel discussion, with experts drawn from Insurance Companies, Consultants, Economists, Insurance Broking Companies , Online Web Aggregators, Surveyor Firms.

Some of the key topics to be deliberated are :

• Insurance Industry Great Opportunity for Employment Generation- Developing and retaining Talent
• Life Insurance Industry Projections for 2025
• Role of Web Aggregators in Insurance penetration
• General Insurance Industry Projections for 2025
• Impact of New Guidelines on Motor Insurance
• Health Insurance Industry Projections for 2025
• Increasing incidence of Inhouse Claim Settlement of Health Insurance
• FDI in Insurance

The event is scheduled to start at 03:30 pm and would conclude with Cocktails & Dinner.

Members are requested to make it convenient to participate in the programme and also nominate their senior executives. In view of the importance of the subject and in the interest of the industry, no participation fee is being charged from the delegates. Due to limited number of seats, members are requested to confirm participation (first-come-first-serve basis) at the earliest by returning the response form given below.