But this was not to be on Tuesday. Deepak Satwalekar, managing director, HDFC welcoming the audience at the Confederation of Indian Industry's international insurance seminar titled, `The Process of Change' struck an upbeat note. He declared that ``emotional blackmail by certain politicians,'' is unfair as the insurance industry too needs to make a qualitative jump as other industries have done as prodded by foreign competition.

Cheerful noises were made by CII's president Rajesh Shah, too: "Hope springs eternal in the human heart,'' he told the assemblage. The wait has been long but it should not lead to despondency, he urged. Uday Kotak, chairman of CII's financial services sector continued the refrain of hope by saying that long journeys involve taking a thousand steps, now, he said, in the insurance sector in India, the last step needs to be taken in this long journey.

The upbeat mood was buoyed further by Murli Deora, Congress MP, who in strong terms castigated the ruling coalition for reneging on its commitment to open insurance. He declared that insurance liberalisation will help the consumer to get access to better and cheaper products as has been the case in aviation and oil industries. Deora reiterated the Congress party's commitments to insurance liberalisation by reading out the relevant section from his party's manifesto.

The mood of the conference took an upward flight after addresses by BK Chaturvedi, special secretary insurance and N Rangachary, chairman IRA both of who indicated that the light at the end of the the tunnel is in view.Rangachary went to the extent of detailing some of the salient features of the procedures that the IRA will follow while deciding on issue of licences.Bonhomie prevailed among the soon-to-be rivals in the audience. They have all have sat through so many seminars together waiting for the action to start that a degree of camaraderie has come in between them, said the country head of a foreign company. Potential rivals from various companies greeted each other like lost friends during the coffee break.Consultants of all hues floated in their midst. Even placement consultants could be seen circulating asking about recruitment plans and how they can provide the right guys.

While the same faces greeted and circulated in the foyer the high table had a fresh look. Big names on the high table comprised Max Taylor, chairman, Lloyd's, Burkhard Koye, deputy member of the executive management for Munich Reinsurance and Ralph Hurlbutt, director, GIO Australia Holdings. On the second day of the conference on Wednesday high profile speakers have been lined-up from CGU Plc which is the holding company for Commercial Union and General Accident, Aegon, Standard Life, Allstate International and Chubb.

Also planned on Wednesday is a novel session on information technology for insurance companies which will be presided by the S Ramadorai, CEO of Tata Consultancy Services.

Insurance seminars in the recent past have witnessed a dramatic fall in interest on the second day. It remains to be seen whether after the rays of hope flashed by the insurance secretary will ensure sustained interest on the last day. The insurance secretary, BK Chaturvedi will deliver thevaledictory address and close the seminar on Wednesday.