Business Tales at NTU Singapore
Jan 11, 2016 | Team MM
The Insurance Risk and Finance Research Center (IRFRC) at Nanyang Business School, Nanyang Technological University, Singapore held its Annual Insurance Risk Research Conference on 25th and 26th June 2015. The theme of the conference was “ Risks in Emerging Markets”. In addition to the conference’s theme, the other topics included was: longevity risk financing, actuarial pricing of risks and insurance economics with a focus on the Asia-Pacific insurance industry. A total of 68 high quality submissions were received by the organisers for the conference. From the 68 papers peer reviewed by the IRFRC Scientific Committee, 23 papers were finally selected to be presented at the 2015 IRFRC Conference at the Goodwood Park Hotel, in Singapore. Dr. N. M. Leepsa’s research paper found place among these top papers.
As a faculty in finance teaching in area of banking and insurance in School of Management, Dr. N. M. Leepsa presented her research paper titled, “The insurance industry in India: A comparative analysis of the private and public players” among an audience which was mixture of academics, industry professionals (primarily actuaries) and policy makers.
Her research paper probes in to the Indian Economy and observes the characteristics of Insurance Industry in India based on Strength of Insurance Industry in India and Weakness of Insurance Industry in India. Further making literature survey, it is essential to re-look into the Private and Public Players in insurance industry in India as insurance companies are mushrooming after liberalisation. Further, increase in the foreign direct investment from 26% to 49% shows that insurance business will grow in India but facing tough competition from rest of the world and specifically the Asian countries. Hence, there is a chance that there may be some difference observed in between the private and public insurance firms. Thus, in this study, an attempt has been made to make the comparison of Private and Public firms in Insurance industry in India based on Insurance Education, Mergers and Acquisitions, Percentage of Foreign investments in Insurance sector, Premium, Performance Evaluation. The performance will be evaluated using the Key Performance Indicators (KPIs) in the Insurance Industry such as operating expenses, commission expenses, retention ratio, new policies issued, registered insurers, premium underwritten, distribution of offices of life insurers, market share, incurred claims ratio, investment income and leverage. The period of study will be taken as 2000-2001 to 2014-15. An attempt is made to clarify the results and generalize them to insurance industry performance. The study will be further carried on making content analysis from the data collected from various secondary sources such as annual reports of insurance companies, Insurance Regulatory Development Authority (IRDA) journal, and insurance journal. The statistical tools used in the study will be descriptive statistics, percentage analysis, growth trends. The hypothesis of the study is that there is no difference in the growth and performance between the public and private firm in insurance industry. The study is explorative, descriptive and empirical in nature.
Dr. Leepsa had a wonderful conversation with scientific advisor on insurance Mr. Michel M Dacorogna, SCOR, Switzerland, on various issues on the overview of insurance industry in India. Exchange of research ideas on the risk in Asian countries were discussed. He was the discussant of her research paper and he gave feedback to improve the research work. Apart from it, he complimented about the author’s extensive use of disclosed data by the industry for her research. Speaking about her experience, the professor said:
It brought an invisible layer of positive energy in me after attending the conference that inspired me to move forward, be courageous, or take up new challenges as an academician and researcher in field of finance. It was certainly a worthwhile experience for me to talk to people from diverse backgrounds from different institution from different countries. Thanks to the institute to provide me opportunity to go abroad for global experience so as to bring more visibility of institute in the field of business schools and other technical university worldwide.