“We’ve identified a number of areas where the UK and India can work more closely together in innovative financial services- cyber, green and fintech.In fact, our ties are already strong in these areas, and many firms from the UK are already based here. Vice versa many Indian firms are in the UK. After all London’s expertise perfectly matches India’s fast growing market”
Interviews
“Raising FDI limit will provide opportunities to existing players as well as to new players”
The FDI limit could be made 100%, encouraging international players to set up in India and expand their foot print, with their own long-term strategies and best practices. However, adequate provisions will need to be made to safeguard the Indian customers against the adverse effects, if any, of the FII’s international businesses.
“Industry should focus on product innovations, especially in the pension space”
“Opening up to 100% FDI may trigger a fresh wave of consolidation and change of shareholding”
“Opening up to 100% FDI may trigger a fresh wave of consolidation and change of shareholding. Many players who would want to use digital technologies to disrupt the industry may want to get in. Having said that, the sector is also getting quite crowded and already there is severe competition in the sector.
“With increasing maturity, the FDI limits can be enhanced beyond 49%”
“The FAIR Nat CAT pool has gained the approval to operate in India’’
“Growth and profitability are equally important”
“We do write a lot of agriculture business and it contributes to about 40% of our business in India”
“We are more focused on improving the pricing and the other terms and conditions” Alice Vaidyan, CMD, GIC Re
“When I began my term as the CMD of GIC Re, I had two goals for us- to be a Top 10 Global Reinsurer and to deliver consistent underwriting profit. And I am proud to say that GIC Re has been ranked as the 10th largest Reinsurer in the latest S&P rankings. I realize that it is not enough to be a `Top 10 Reinsurer’ only on the metric of size but to deliver value to our clients, shareholders and business partners.’’
“Rapid technology growth compelling pragmatic shift in India’s risk mitigation landscape”
Insurtech has already arrived in India and is disrupting the traditional value chain of the insurance industry. The industry is fundamentally changing because of the impact of technology such as Artificial Intelligence, Internet of Things, blockchain, big data, and Robotic Process Automation. The insurtech universe can be segmented into four broad categories – Product & Distribution, Business Process Enhancement, Data & Analytics, and Claims Management.