National Insurance Company Limited (NICL) Chairman-cum-Managing Director N.S.R. Chandraprasad said the Indian insurance industry was poised to transact a business of Rs 3 lakh crore in a decade and a large number of posts would be falling vacant with 30 per cent of the employees retiring in the coming years.
Speaking at a felicitation programme organised by employees of the Oriental Insurance Company Limited (OICL) and the New India Assurance Company Limited (NIACL) at Vijayawada Club on Saturday, Mr. Chandraprasad said the Indian public sector insurers were able to withstand the stiff competition from private players by rendering quality service.
The NICL and other government insurance companies had a very strong human resource whose dedication to serve people and inclination to constantly improvise gave the companies an edge over their competitors in the private sector, Mr. Chandraprasad asserted and exhorted the youth to make use of the tremendous opportunities that insurance sector offered to them.
OICL General Manager Nagaraja Sarma, NIACL Chief Regional Manager Vijay Kumar, Regional Manager Madhava Rao, Deputy General Manager Anurag Bhatnagar, programme coordinator M. Ranga Rao and others participated.
