Hyderabad to host CII health conclave on Oct 9

The CII healthcare conclave coming up in Hyderabad next week will highlight the need for quality and affordability of medicare in the country as the sector continues to boom.

The conclave to be held by Confederation of Indian Insustries (CII) on October 9, 2007 will also press for industry status for the sector. “For a long time healthcare has been considered an unorganised industry with doctors turning entrepreneurs. The industry today is the largest employer and demands an industry status,” said Mr Vishal Bali, conference Chairman & CEO, Wockhardt Hospitals Group.

“As a fast growing economy we need to focus on the healthcare sector. Today, the healthcare expenditure in the country is 5.2 per cent of the GDP and only 0.9 per cent of its gross expenditure, which is the lowest in the world. There is a huge need for investments to improve access to basic healthcare and fill the shortfall of approximately 8,00,000 beds in the country,” he added

The conclave will focus on improving gaps in bed strength, medical and paramedical staff, news technologies, investment and financing models.

The fifth in the CII’s annual national service sector conclave series is titled `Healthcare services: next practices and mantras for survival’.

The Andhra Pradesh Minister for Medical Education and Health Insurance, Ms Aruna Kumari Galla, is to participate, Key players across the industry will include Apollo Hospitals, Wockhardt Hospitals, Satyam Computer Services Ltd, Arvind Eye Hospital, Max Healthcare, P.G. Hinduja National Hospital, Yashoda Hospitals, insurance regulator IRDA, Star Health, Kotak Mahindra Bank, Citibank, Johnson & Johnson Medical, Philips Medical Systems, GE Healthcare Technologies.

Health insurance importance, tariff and reach emphasized at Health Insurance Summit organized by CII

Is Tariff really a critical factor in the growth of Health Insurance. Do people do not take health insurance because of tariff or due to a lack of awareness. Setting any kind of boundaries does affect a market, and probably that is what C. S. Rao, Chairman, Insurance Regulatory and Devleopment Authority meant to say.

"The healthcare industry has two concerns: insurance and removal of tariffs. Once tariffs are removed, insurance will get a boost, said C.S. Rao, while speaking at the Health Insurance Summit organized by the Confederation of Indian Industry (CII) on Oct 5, 2007 in Mumbai.

Also it has been noted that senior citizens are unhappy with the existing health insurance schemes and an issue which needs to be addressed, said Mr. Rao.

Health insurance in India forms a small part of insurance. With 75 percent of the Indians residing in the rural areas, more doctors need to be posted in these regions. Also, the poor have still to be taken care of by the government since it is only a miniscule number of people from the society that can pay for health insurance.

By next decade the health insurance scenario in India would look different undergoing a transformation due to efforts from Government, added Mr. G. C. Chaturvedi, Joint. Secretary and Mission Director, National Rural Health Mission, Ministry of Health and Family Welfare. With an addition of 0.11 beds per annum and 100 million Indians covered by self-funded government schemes, most public private partnerships will reduce high out of pocket health insurance. Regulatory mechanisms would also be enforced to have a proper system in place. Proper policies needs to be in place, for the catering to the health requirement of the poor.

Dr Prathap C Reddy, Chairman, CII National Healthcare Council and Chairman, Apollo Hospitals, emphasized that while the health industry contributed to over five percent to the national income, still it remains one of the most neglected industry. The reasons are mainly lack of awareness and disinterest among the masses on the whole.

The statistics for health services are not so encouraging with one Primary Health Centre for every 30,000 people and only six maternity beds. The rural sector which forms 75 percent of Indian population has access to only 31 percent of hospitals, 18 percent of beds and only 25 percent of qualified allopathic doctors.

In addition to that the light escalating prices for medicines, treatment and to avail medical facilities is slipping out of one's reach.

Although there are a host of insurance policies available today to choose from mandatory, public, private, employer based to community based schemes, the hindrances has been due to the fact that 24 percent of the population are poverty line and 35 percent are illiterate.

As per the study undertaken by the WHO, the insurance in India is mainly financed from out of pocket expenditure in comparison to all other countries involve in the study including China, Sri Lanka, Vietnam to mention a few.

India has a huge population base; there is immense potential for the industry to grow in future. While the government is working on the regulatory issues on one hand, the private sector is looking at insurance expertise and product design.

"Unlike Life Insurance, in case of health insurance, there are multiple stakeholders involved and it is important for all of them to work together to make a success of this. This Summit has tried to assemble a confluence of industry players on a common platform to explore and arrive at a consensus on key directions," said A Vaidheesh, Summit Chairman and Managing Director, Johnson and Johnson Medical.

An aging population and an increase in lifestyle diseases will push the demand for hospitalization. It is important to recognize health as continuum and not as a point of reference. "The Summit will prove constructive for the vast array of issues affecting growth of this industry and the economy as a whole." Calling for a broader view of healthcare costs and an improved healthcare infrastructure, he said that by 2015, health insurance will cover 20 percent of the Indian population.

Providing an insight into the insurer's mind, Mr D D Singh, Executive Director, Health Insurance, Life Insurance Corporation of India, stated that an insurer faces difficulties while choosing a product. Cost, quality and access decide the success of health insurance. The insurance companies need to talk about the mindset of the customer.

According to Jean-Michel Chatagny, MD, Client Market Asia, Swiss Re, in 2004 the world spent 4.1 trillion dollars on health. India has very less expenditure on health. Private insurance is very low and has the lowest percentage of government spending among the BRIC countries. The Swiss government encourages purchase of health insurance. India has potential for private insurers. Also, the care delivery infrastructure needs to be overhauled and the government has an important role to play, he said.

In his welcome address, Banmali Agrawala, Deputy Chairman, CII Western Region and MD Wartsila India Ltd said that the first ever health insurance summit in India is an attempt to remind people of the importance of 'forgotten' health and health insurance to keep up with the fast track life. An indirect advantage of health insurance is that it keeps medical costs and practices under check. With the opening of the Insurance Industry to FDI, large amounts of funds have been flowing in.

Risk Managers AT FERMA help ACE raise $40,000 for Red Cross HIV/ AIDS educational programme in India.

Geneva: European Risk Managers attending the FERMA (Federation of European Risk Managers) Congress in Geneva have helped ACE European Group (ACE) to raise over $40,000 (EUR 30,000) for a Red Cross HIV/ AIDS educational programme in India.

ACE Foundation- International contributed EUR 200 for each Risk Manager who attended ACE's charity reception at the Red Cross museum in Geneva on 1st October. The full contribution will support the Red Cross's life saving work increasing awareness of HIV/AIDS among young people in India's Northern State of Utter Pradesh.


Andrew Kendrick, Chairman and Chief Executive Officer, ACE European Group said: "I would like to extend our heartfelt thanks to every risk manager who attended last night's event, enabling us to make this substantial contribution to the Red Cross's valuable work. Funding for this project is a priority for the Red Cross so every Euro
raised will contribute directly to saving lives."


The Red Cross HIV/AIDS education in India programme

Official statistic for India show that it has the highest number of people living with HIV and AIDS at 5.7 million (UNAIDS 2006). The disease is rapidly growing across the sub continent and young people are especially at risk, with over one-third of those infected aged between 15 and 24 years old.

The HIV and AIDS education in India project aims to increase knowledge and awareness of the virus among young people through the proven 'youth peer education' approach. This is where young people are recruited from schools and colleges for training at Red Cross workshops. They will then hold educational sessions in schools, clubs, colleges and other places where young people are present. This type of peer education has proved extremely effective in helping to increase knowledge, change behaviour, lessen risks of infection and counter discrimination.

The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the Standard & Poor's 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries.

ACE supports community activities around the world through its company-sponsored volunteer initiatives, with the aim of making positive contributions towards the society.

Source: Media Point

ICICI Prudential Life partners with Dignity Foundation to launch ActivAge

October 1 every year is observed as World Elders day. Old age is often described as second childhood, when people crave for attention and help. But whether they get those benefits or are well off, depends lot more upon circumstances.

To cheer up on this day, we have some initiatives taken jointly by ICICI Prudential Life Insurance, one of India’s leading life insurers and Dignity Foundation, an established organization dedicated to the cause of productive ageing. They have come together to lauch ActivAge a platform that will work towards promoting and facilitating the concept of productive ageing amongst the senior citizens in India. It entails a comprehensive engagement program for the fifty-plus segment, involving them in activities that will help them lead a holistic post-retirement life.

Speaking at the launch, Ms. Shikha Sharma, Managing Director and CEO, ICICI Prudential Life Insurance said, “While financial independence is a key determinant for a satisfying life post-retirement, it isn’t the only factor that promises quality life at that stage. While our strengths lie in providing financial solutions in the retirement space, Dignity Foundation provides a platform for senior citizens to explore exciting opportunities to keep them engaged. Through ActivAge, we will enable senior citizens to lead a more active, wholesome life and age productively.”

Dr. Sheilu Sreenivasan, Founder President, Dignity Foundation, said: “It is our privilege to partner with ICICI Prudential Life Insurance and further champion the cause of active ageing. ActivAge will provide senior citizens a larger forum to engage themselves in productive activities, which will help senior citizens lead a more fulfilling life after their working years. The activities have been designed to bring more senior citizens together on a regular basis. Through ActivAge we hope to build a larger community of active senior citizens, who in-turn will help change the meaning of post-retirement life in India.”

ActivAge programs include Chai Masti, involving Dignitarians in various mind-stimulating activities, Intergenerational Mela seeking to increase interaction between grandparents and their grandchildren, Suraksha Bandhan, an activity that encourages school children to bond with their grandparents and Voice of Dignity, a newsletter which would articulate their concerns and learning on various issues. All these activities will be held in Mumbai, Kolkata, Delhi, Chennai, Hyderabad, Visakhapatnam and Jamshedpur.


Second Careers

ICICI Prudential Life and Dignity Foundation under the aegis of ActivAge will launch a website on second careers. This is a first of its kind initiative that will offer a unique opportunity for Dignitarians to pursue careers post their retirement. The website has been created keeping in mind that many retirees seek either part-time or full time opportunities in the corporate sector, as they are still active and can contribute to the various functions within a company. The second careers website is the first step towards providing avenues in this direction, to senior citizens.

ICICI Prudential Life Insurance will provide a web interface, where Dignitarians can upload their resumes. These resumes can be accessed by both ICICI Prudential Life and other prospective employers who will offer the unique opportunity for Dignitarians to explore second careers.

Volunteer Programs

Employees of ICICI Prudential Life will also participate in volunteer programs and productively share their time and learnings with Dignitarians in an interactive way. Volunteer programs designed for ActivAge include Dignity Companionship program - engaging in activities like reading or playing cards, scrabble, Dignity Dementia Day Care Centre, involving in creative pursuits like dance and singing and Dignity Home Computer Training - imparting computer training, surfing the net or access email services.

The immediate beneficiaries of ActivAge will be the over 50,000 members of Dignity Foundation across India. However, senior citizens from across the country can become members of Dignity Foundation and benefit from ActivAge programs.

Elder Population (Below extract referred from Kerala Online)

The rise in the proportion of the ageing population represents one of the most significant demographic shifts in history. In 1950, there were 205 million people who were over 60; in 2000, there were 606 million; and by 2050, there will be two billion. The number of the elderly trebled over the last 50 years and an encore is expected in the next 50 years. As a proportion of the total world population, the number of the elderly will double in the next 50 years.

This demographic change is fast turning the hair of policy-makers prematurely grey throughout the world, especially in developing countries, where the growth of the aged population is happening at a more rapid pace.


In India, the elderly population has grown manifold. While only 19 million people were 60-plus in 1947, today the figure has risen to nearly 80 million, an increase of 285 per cent in the last five decades. The figure is expected to double in the next 25 years. Nearly 90 per cent of the elderly have no form of official social security, and over 40 per cent live below the poverty line. Close to 75 per cent are from the rural areas and over 73 per cent are illiterate. Some 55 per cent of the women over 60 years (over 20 million) are widows.

If achieving longevity was the triumph of the 20th century, care of the elderly will be the challenge of the 21st century. While research on ageing is well-developed and documented in developed countries, it hardly happens in countries such as India. According to Dhar Chakraborti (The Greying of India, Sage Publications, 2004), this is primarily because of the belief that the family support system is and will continue to be an adequate insurance against all problems related to old age.

The full article from Kerala Online based on Elder population can be read here.

Asia Pacific/Oceania Financial Advisor Conference

LIMRA International hosted its ‘Asia Pacific/Oceania Financial Advisor Conference’ in India for the first time. The conference was attended by more than 300 financial advisors mostly MDRT members from all over the region.

Speaker from different parts of the globe shared their success stories. Prominent among them were, Tony Gordon, former president, MDRT-UK. Bharat Parekh, agent, Life Insurance Corporation of India, Thangiah Vijayanath, Manager-business development, Ceylinco Insurance (Sri Lanka) & Deepak Shah, advisor ING Vysya Life Insurance. Gary Aluise, corporate vice president & MD, LIMRA international & Gary Bennett, MD & CEO, Max NY life insurance delivered the opening ceremony address.

For nearly a century, LIMRA International has offered its clients insight in the form of research and value-added marketing and distribution expertise. Insight that helps the client identify trends, evaluate options, and implement solutions. As a member-owned organization, LIMRA is dedicated to meeting the marketing information needs of companies involved in marketing annuity, disability, health, life, mutual fund, and retirement savings products.

“We have more than a dozen members in India & around 800 members worldwide” said Mark Lamb – Managing Director, South Asia/Oceania, LIMRA International. LIMRA has developed a tool called ‘Sales Screener’ to help the Indian insurers to choose right candidates for their sales force added Lamb.

Shakti Sharan, Special Representative of LIMRA in India said “by having a permanent base in India, there has been further scope of strengthening relationship with the member companies as well as adding new members to benefit from LIMRA offerings. It is a unique opportunity for the member companies to be availing tremendous benefits out of LIMRA’s expertise in Research, Assessment & Development, Consulting, and Compliance”. LIMRA primarily helps the member companies in further enhancing productivity of agents, profitability of the company, persistency and retention, added Sharan.