The Financial Markets Conclave 2016 hosted by Dun & Bradstreet India, on 23rd November 2016, at St. Regis, Lower Parel, Mumbai, saw the coming together of industry veterans, thought leaders and prominent officeholders from across BFSI sector.
The summit set the stage for dialogues on pertinent topics of great relevance, including the role of bond platforms in raising debts, the many innovations that are making waves in the commodity market and the prominent aspects of the regulatory landscape as instituted by IRDAI.
One of the key highlights of the event was the vibrant panel discussion moderated by Mr. Mrugank Paranjape, MD & CEO, Multi Commodity Exchange of India Ltd.
Titled “Distribution of financial products: The way forward”, which was also the central theme of the conclave, the session saw Mr. S. V. Ramanan, CEO, CAMS Repository Services Ltd., sharing his opinions with substantial references on the future of distributing turnkey financial products such as e-insurance policies.
Mr. Ramanan summarized how CAMS Group as an integral part of India’s Financial Infrastructure leveraged technology to the ease of distribution of financial products – be it via FinNet along with other large RTAs or through myCAMS for the retail investors.
He remarked that the success of Pradhan Mantri Insurance schemes was largely due to the ease of opening insurance policies, as in the case of CAMSRep. He also underlined how IRDAI has facilitated the process of opening eIA ( e-Insurance Accounts) in such a way that the policy-holder is rendered KYC compliant. Furthermore with the KYC, the purchase of an Insurance policy is further simplified.
Mr. Ramanan emphasized that success of distribution is not only about reach but being available at the Moment of Truth ( when there is a need for service) and of how CAMSRep has facilitated this for insurers through its pan-India Insurance Service centers (ISCs).
Other panelists at the conclave included-
- Ms. Shilpa Kumar, MD & CEO, ICICI Securities Ltd.
- Mr. Kamlesh Rao, CEO, Kotak Securities Ltd.
- Mr. Amit Rathi, MD & CEO, Anand Rathi Group
- Mr. Himashu Vyapak, Deputy CEO, Reliance Nippon Life Asset Management Ltd.
- Ms. Vibha Padalkar, Executive Director & CFO, HDFC Standard Life Insurance Co. Ltd.
- Mr. S. V. Ramanan, CEO, CAMS Repository Services Ltd.
Eminent guests at the summit included Mr. Ashishkumar Chauhan, MD & CEO, BSE Ltd., Dr. (Ms.) Mamta Suri, Chief General Manager (Finance), IRDAI and Ms. Preeta Misra, Director – Learning Solutions, Dun & Bradstreet India.
CAMS Insurance Repository Services Ltd (CAMSRep), a subsidiary of CAMS, is one of the major Insurance Repositories in India Licensed by Insurance Regulatory and Development Authority of India (IRDAI). CAMSRep, as an Insurance Repository opens unique eInsurance Accounts (eIA) for policy holders,which in essence are convenient, safe and relatively risk-free electronic policies. CAMSRep also acts as a single point of service for all ePolicies held by a policy holder. Apart from repository services, CAMSRep also provides outsourcing services to multiple Insurance Companies in accordance with IRDAI regulations.