Take it as a mission and not just profession, insurance agents told

A two-day national seminar on ‘Emerging Issues and Challenges of Insurance Sector in India – A Diagnostic and Prescriptive Approach’ being organised by Commerce & Business Management Department was underway at the Kakatiya University here on Thursday.

The seminar is part of the UGC-SAP (DRS) (Special Assistance Programme – Departmental Research Support) programme.

Inaugurating the seminar, Vice-Chancellor Prof. B. Venkat Rathnam said that the insurance sector should reach the rural people. “It is largely confined to urban areas and a large number of people were still to be covered under it. Only 20 crore were covered under it and there was lot of potentiality for this sector to grow”, he said.

“Agents should not only take as a profession for livelihood, but also as a mission and risk management with a service motive. Rural people should be sensitised towards the insurance coverage. Women groups should also be utilised for insurance work”, he suggested.

Delivering the keynote address, former Singareni Collieries chief general manager (HRD) P. Chandrakanth Sharma said that India was lagging behind compared to other countries and ranks 23rd in the world insurance market. Farmers should be educated about crop and cattle insurance, he opined. He suggested the insurance companies to publish the literature in local languages to create awareness among the rural people.

Retired professor of the University, Prof. A. Shankaraiah exhorted the insurance companies to improve service quality in settling claims and risk management. Innovative policies are to be designed to extend more benefits, he opined.

Seminar Director Prof. P. Krishnama Chary, Prof. K. Omprakash, and others were present at the inaugural session.