We believe in imbibing knowledge of various topics in our student’s mind in order to prepare them in their career for the long run!
We had an amazing event on Technology Disruptions in Insurance Sector by Mr.Parikshit organized by Dr. Guru Aradhya .
Brief profile of our speaker:
Mr. Parikshit holds an MBA in Marketing and has worked in the Property and Casualty Insurance, Life and Health Insurance, and Banking industries for over 8 years. For the past three years, he has worked as a Senior Business Analyst at Sapiens Technologies India Pvt. Ltd. He has a lot of experience with implementing techniques and streamlining work processes. He is also skilled at conducting GAP Analysis and User Acceptance Training. At the managerial level, Mr. Parikshit has worked on a variety of projects for a variety of clients. He has also written a number of blog posts on themes such as UBI and Block Chain. He is a dynamic guy who is an outstanding communicator with strong interpersonal and relationship-building skills.
Mr. Parikshit Yogananda spoke about the huge changes in the insurance industry, predicting that there will be many more. Micro Insurance and Analytics-related issues were the ones he discussed in depth.The sequence of events: Ms. Diksha Rustagi gave an introductory talk to the visitor, in which she informed the audience about the speaker’s background and competence, as well as the lecture’s agenda. Mr. Mayank Bhutia then presented the guest with a bouquet as a sign of appreciation. The discussion was then taken over by Mr. Parikshit Yogananda, the day’s guest speaker, who began by giving an overview of the insurance industry, how it works, and the technological challenges that the industry is currently facing.
He discussed the history of insurance and how there is a lot of room for growth in this sector in a country like India, where insurance penetration is under 8% compared to over 90% in countries like the United States. He then went on to discuss web aggregators and how they are both a part of this process and diverge from the overall goal of how the insurance industry operates. The difference between a proposal and a quote sparked a lively debate. Various forms of dangers were also discussed in depth during the course of the conversation. He also made it plain that the insurance ensures that the owner of the insurance policy does not suffer any loss or profit, but rather that the losses are covered. There was also a lot of discussion on the Human Value Index.
The breadth of digital insurance was also explored, as it is a rapidly growing industry with a lot of potential. He also discussed the consequences of the 7Ps and 4Cs in terms of insurance from a market standpoint. The debate was a lively two-way exchange that answered many of the kids’ questions about the field.The following are some of the takeaways from the event: The scope of the insurance industry was made extremely evident, as it has a lot of potential in the future. The disruptive debates have also opened doors for those interested in Data Science and Business Analytics, since it is the ideal location for them. The stakes are high, but so are the rewards.
Students’ feedback: The students were really appreciative of the management’s and faculty’s efforts to organise sessions like this, which provide a realistic image of the market and help them comprehend the skills and competence required to succeed in it. This was a highly dynamic session, and the students are looking forward to more like it.Photos from the event.