School Of Mangement students visited to Iffco-Tokio General Insurance Company (ITGI)

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Date: 24 April 2015, Time: 11-1 pm
Venue: ITGI, IFFCO Tower, Gurgaon

Attended by: BBA Semester IV (Practices of Insurance students)

Accompanied by: Ms Urvashi Sarup and Dr Satyendra Pratap Singh

Topic: General Insurance – a point of view of a general insurer

Speakers from ITGI:

  • Mr Sanjeev Chopra, Executive Vice President & Chief Financial Officer
  • Mr Rakesh Kumar, Executive Vice President, Head HR
  • Mr Sensarma, Ex ITGI, Corporate Trainer for ITGI
  • Ms Pragati Kakkar, Chief Manager, Training and Development Communication Cell

Learning Objectives of the Visit

The aim was

  • To learn general insurance concepts
  • To meet a general insurer and hear the Company’s perspective on general insurance
  • To understand the impact of the new insurance bill on the industry and players in particular

IFFCO TOKIO General Insurance Company is the third largest private general insurance company in India today, with a gross premium income of over Rs 3,000 crores. ITGI was very kind to host our students and walk them through different aspects of insurance.

Mr Rakesh Kumar (head HR) and Ms Kakkar spoke to the students about the role of HR and training in the insurance industry and how to find employment in this sector. Mr. Sanjeev Chopra (CFO) spoke to the students about revenue accounts, profit and loss accounts, ratios and difference between underwriting profit and PBT/PAT.

The floor was then left to Mr SenSarma who spent the next one and a half hours talking about different aspects of general insurance to our students. It was very exciting to hear about how insurance industry evolved over the last century. He focussed the discussion on agents, brokers, specialists, claims and claim servicing and various products in general insurance. He also spoke about ITGI – their beginning, their heritage, their partners. It was very interesting hearing about the heritage of the parent companies IFFCO and TOKIO Marine. The students were very keen to know whether TOKIO Marine will increase its stake to 49% and if so, then the impact on the business of ITGI. The lecture was well received by all the BBA students and they engaged Mr SenSarma in many questions.

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