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Year - 2010

Year - 2010. An Opportunity to Support a Non Profit Organization. Insurance Foundation of India (IFI). Objectives. Education. Objectives. Seminar & Training. Consumer Rights & Welfare. Objectives.

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Year - 2010

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

  2. Objectives Education Objectives Seminar & Training Consumer Rights & Welfare

  3. Objectives IFI is a non profit making organization set up under Trust Registration Act. 1882 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. Objectives Seminars and Training • 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

  5. Objectives Consumer Rights/Welfare • 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.

  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 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 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. Topic Participants Guest Faculty Comprised of Eminent personalities Indian Insurance Industry 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 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 Next Executive Development Programe 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) Group photograph of the participants with Prof. Howard J. Bolnick (Few participants are not present) Mr. Krishnan Ramachandran, Chief Operating Officer, Apollo Munich Insurance, being handed over cerificate by Prof. Howard J. Bolnick

  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 2009. 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 www.ifingo.org

  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. 12th Floor, DLF Square, Jacaranda Marg, DLF City Phase II, Gurgaon - 122002

  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 400 013.

  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 GhoshHead, 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. 1882 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 ? Financial support to IFI while finalizing Business Plan for year 2010. You could support us by any of the following options

  17. Sponsorship for specific projects

  18. Contact Information New Delhi Kolkata Insurance Foundation of India449 Kailash Tower 2East of Kailash New Delhi - 110065E-mail : vp@ifingo.orgPhone : 011- 41324957, 26417566Mob : 9810090853 Attn. Vice President 13 Pollock Street Kolkata – 700001 Phone – 9831024041 Contact : Mr. A D Bhatia Canada USA Ontario 1155, Blueheron Blvd, Mississauga L5V 2C8, OntarioEmail: bhatiakd@rogers.comTel # 9058265843Fax # 9058260558Contact : Kamal Bhatia 151 N. Michigan AveChicago, IL - 60601E-mail : vp1@ifingo.orgPhone: 7347099617 Contact : Prerak Sethi

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