Mr. Rout is Masters in Commerce, L.L.B & Fellow in Insurance Institute of India (a prestigious insurance knowledge based institute). Joined as Direct recruit in 1983 and took voluntary retirement as Sr. Divisional Manager after serving New India for 20 years. Has handled insurance program of few top listed indian companies and various Stock exchanges. Has 16 years’ experience in Insurance Broking Industry and still continuing . 

Q.     Insurance companies are into stress how you think this will affect your business?

This is going to be short term , max up to Dec-20. More so , health and term& critical illness  on life will surely make a better mark. Motor will continue to show a down turn. We being in corporate sector, stand comparatively in a better footing for property ( whose rates have increased substantially) , and group health ( which is a necessity now)

Q.     There is a lot of redemption pressure on life insurance companies, what is your experience? 

As we don’t deal much on investment products in life, will not be able to comment.

Q.     What kind of challenges have you faced in the last 5 months?

Typically working from home has its own issues like everyone has. However, we have started working from office since last two months. Though, on productivity, no major impact has come , but on energy level, office physical atmosphere will score over WFH.

Q.     What are the challenges you anticipate for the next 7 months?  

Challenges will be more for projects, Marine and retail Motor, which contributes approx. 50% of total industry portfolio. Ours share on this will be max 10% of our total, hence not going to affect much.

Q.     Do you think online sales will take over traditional sales in the next 3 years? 1)     If Yes, Why? If No, Why?

Yes, because of convenience, comfort and easy execution.

We personally feel , empowering POSP with online integration technology will have best of both the worlds, ( traditional & online).

Q.     Are you into Retail marketing, if yes what are your future plans?

Recently started with API integration . We are very optimistic about POSP model.

Q.     Do you have a POS network, if yes how it’s doing and what are your future plans?

Yes, we do have a POS network. It is doing great. We have very challenging plans for the future.

Q.     Where will the growth come from in your company?

From Property, Health, and POS network.

Q.      How many Covid-related claims your company has received so far and how many have been paid?

Two reported and have been paid.

Q.      Which product do you think will do well in the next 2 years and why?

Health undoubtedly ( whether corporate or retail) ; because in this pandemic period, awareness/fear for health has substantially increased.

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