and create self-employment.
PK Behl, former executive director, LIC, and member of advisory council, AIIRM, says customer-friendly products do not come from actuarial calculations but from field work, which brings customers’ needs to the fore. He also said that innovation and research are needed in the insurance sector as customers need a thorough analysis.
The annual AIIRM conclave provides a platform for industry captains to dwell on issues pertinent to research and innovation in the insurance industry. The conclave stressed on the need for developing an institution catering to the educational needs of the country as research and education in insurance can help boost insurance penetration.