Insurance Foundation of India (IFI) An Opportunity to Support a Not for Profit Organization

1. Insurance Foundation of India (IFI)An Opportunity to Support a Not for Profit Organization Year - 2013

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

3. Objectives of IFI IFI is a Not for Profit making organization set up under Trust Registration Act. 1882 of Government of India. The objectives 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 of IFI 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 of IFI 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 • 1. Executive Development Programme • Successfully organised Executive Development Programme of international standards on Health Insurance in New Delhi (Nov – 2009) with world class faculty. A new bench mark on executive training in India was set through programme. • PDH Chamber of Commerce & Industry and Insurance Foundation of India Successfully organised Executive Development Programme on “Risk Assessment & Fire Insurance Claims” in New Delhi (on January 30 & 31,2012) • 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 sponsor 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. Our Achievements 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. Topic ‘Insurance Market Behavior and Health Insurance’ Participants High profile senior professionals from leading Insurance, Re-Insurance, Health Insurance, HR consulting companies and Insurance Brokerage Firms. Guest Faculty Comprised of Eminent personalities Indian Insurance Industry • Mr. S.B. Mathur • Mr. M Ramadoss • Dr. Somil Nagpal • Dr. V Ranjan • Mr. Abhijeet K. Chattoraj • Mr. Karthik K • Mr. S K Sethi Comments Rated as Programme of International standard conducted in India with participants from cross functional areas.

8. Our Achievements 2 days Executive Development Programme on “Risk Assessment & Fire Insurance Claims” in New Delhi (on January 30&31, 2012) Prime Faculty Mr. K. S. Vishwanath, Mr. V. N. Arunn, Mr. Sanjeev K. Sharma, Mr. P. S. Ramnathan, Mr. S. K. Sethi Topic “Risk Assessment & Fire Insurance Claims” Participants High profile senior professionals from leading Insurance Companies, Surveyors, Corporate buying Insurance, and Insurance Brokerage Firms Guest Faculty Comprised of Eminent personalities Indian Insurance Industry • Dr. Deepak Goyle • Mr. Vinod Sehgal • Mr. Sagar Sanyal • Mr. M Raja Ram Comments Rated as Programme of International standard conducted in India with participants from cross functional areas.

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. • National Institute of Open Schooling has introduced Diploma in Insurance which is now available on all India basis.

10. Our Forthcoming Programme Role of NGO’s in distribution of Micro Insurance Planned to be held in June 2013 in association with PHD Chamber of Commerce and will be attended by delegates from • Insurance Companies • Insurance Brokerage Firms • Insurance Agents / Advisors • NGO’s • CSR groups of various corporates • Micro Finance Companies • Consumer Welfare Organizations • Volunteers interested in spreading the message of Micro Insurance • Press & Media Objective - Involve Insurance Companies / NGO’s / CSR group of companies in spreading the message of Micro Insurance to those who can not buy insurance but need it badly. Sponsorship - Sponsorship support from Insurance Co’s/ Corporates/ NGO’s will be highly appreciated.

11. Our Forthcoming Programme 2 Days Non Residential Programme on Risk Assessment & Fire Insurance Claims (Specialized Programme for Sugar Mills) WHY SPECIALIZED PROGRAMME ON RISK MANAGEMENT AND FIRE INSURANCE CLAIMS FOR SUGAR MILLS Fire and allied perils are devastating for any business venture whether it is a manufacturing unit (Sugar Mills) or service provider such as hospitals and hotels. Most businesses realize at the time of claim that the claim amount is not payable because proper risk assessment has not been done at the time of taking the policy. Businesses fail to realize that risk cannot be managed only by taking insurance policy. It is their responsibility for maintaining the safe environment to conduct the business. The insurance policy will not cover the risks associated with organization if it fails to fulfill the conditions attached to policy. This programme will give an opportunity to participants to interact with faculty, who have vast experience of dealing with businesses and claims worldwide. Participants will be able to learn about common mistakes that cause hardship to Organizations. Fire not only causes losses to organization’s assets and life but severely affects the goodwill and future growth of the organization. In many cases owner, promoter and directors face prosecutions as we have noticed in the case of fire in certain cinema halls/hospitals in the recent years. . Participants Sugar Mills / Firms who purchase fire insurance polices, High profile senior professionals from leading Insurance Companies, Surveyors, Corporates buying Insurance, and Insurance Brokerage Firms Prime Faculty Mr. Govind Johri, Mr. Abhay Gujar, Mr S.K.Sethi, Mr. Sagar Sanyal, Mr Sanjeev. K. Sharma

12. 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.

13. IFI Project Report Awards • For the year 2011, one of the projects undertaken by us was 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 participated in the competition. • 13 topics have been short listed for the reports to be submitted. • Full details are available on www.ifingo.org

14. Why you should support IFI • Insurance Foundation of India is set up under Trust Registration Act. 1882 of Government of India and is a Not for 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 with which you are associated.

15. Companies earning net profit of Rs 5 crores or more will have to spend 2% on CSR • Amendments in Indian Companies Act will provide: • If net worth of company is more than Rs 500 crores Turnover is more than Rs 1000 crores Net profit is more than Rs. 5 crores Then the company should spend 2% of the average net profit in past 3 years on Corporate Social Responsibility (CSR) activities . Insurance Foundation of India is a NGO and will like to have your support by allocation of funds (by cheque or in kind) for our projects. • Details of our NGO are available on www.ifingo.org

16. How you can support IFI ? • Financial support to IFI while finalizing Business Plan for year 2013.You could support us by any of the following options

17. Sponsorship for specific projects • Financial support to IFI while finalizing Business Plan for year 2013. You could support us by any of the following options

18. Contact Information New Delhi Kolkata Insurance Foundation of IndiaOm Plaza, 430/7, 1st Floor, Sant Nagar, East of Kailash, New Delhi - 110074E-mail : vp@ifingo.orgPhone : 011- 41324957, 26417566Mob : 9810090853 Attn. Vice President 13 Pollock Street Kolkata – 700001 Phone – 9831024041 Contact : Mr. A D Bhatia

19. Appendix • Photographs of Programmes • Appreciation Letters - Chamber of Commerce • Appreciation Letters - Max New York Life Munich Re Royal Sundaram

20. Executive Development Programme (2009) Health Insurance 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

21. Executive Development Programme (2012) Risk Assessment & Fire Insurance Claims Group photograph of the participants and faculty members on evening of Jan 31, 2012. Some participants are not present. Participants attending the workshop and participating in discussion.

22. India Insurance Conference (2012) The Way Forward Honorable Speakers included Mr. Yogesh Lohiya, Mr Anuj Gulati, Mri. Dipankar Acharya, Ms Malti Jaswal, Mr. S K Sethi, Mr. Bhavesh Sharma, Mr. Kapil Mehta, Mr. Harsha Kapoor Held on December 12,2012 participants from industry attending the conference and participating in discussion.

23. Conference on Role and Scope of Sub brokers in Insurance (2013) This conference has held on March 19, 2013 in association with PHD Chamber of Commerce to discuss & send conclusion to IRDA Ms. Pushpa Girimaji Consumer Activist and Columnist making presentation in Conference on “Role and Scope of Sub Brokers in Insurance”. Mr. S. K. Sethi Vice President, Insurance Foundation of India speaking in Conference on “Role and Scope of Sub Brokers in Insurance”. Outcome Comments have been sent to Insurance Regulatory and Development Authority (IRDA). This Conference has been rated as the most though provoking conference held in the area of Insurance in New Delhi.

24. Appreciation Letter from Leading Chamber of Commerce PHD Chamber of Commerce and Industry Dec 18, 2012, New Delhi

25. Appreciation Letter from Leading Chamber of Commerce PHD Chamber of Commerce and Industry March19, 2013, New Delhi

26. 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

27. 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.

28. 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