MISB Bocconi holds Roundtable to discuss winds of change in Insurance Industry


Mumbai, 12 January, 2016: The Center of Excellence for Insurance at MISB Bocconi, Powai in Mumbai organised a Roundtable on "Transformational Leadership in Insurance". The aim was to give students a ring-view of thought flow within the industry. The event, well-attended by CEOs of insurance companies, partners of consultancies and academicians, gathered together at the MISB Bocconi Business School to debate the talent and skills required for the leadership of the future.

The debate was led by Mr Deepak Sood – CEO- Avantha Ergo Life. Professor Dr Anjana Grewal, Senior Professor and Director-Centers of Excellence-MISB Bocconi explained that the reason behind choosing the topic "Transformational Leadership in Insurance" was the "changing consumer, who is embracing new transactional methods and new technologies; regulatory changes and the war for talent in the changing landscape." However, there were conflicting views on whether a conservative industry like insurance needs transformational leadership through disruption, enabling innovation, agility and sustainability. 

Said Vivien Berbegier, Deputy CEO, State Bank of India Life, "The level of disruption may vary from a lot to a little. Initiatives such as partnering with start ups and nurturing them will bring in a change in culture. Historically, bringing about a change in an insurance organisation is difficult. However, though private players in this country have been around for only 15 years, the transformation is significantly faster. Today, the India story is about young talent that is agile and quick."

Roopam Asthana, CEO and Director, Liberty Videocon General Insurance made a significant point at the event, "Leading people become a very important part in dealing with disruption and transformation. Communication is the key. Typically, traditional insurance organisation structures are hierarchical, spread across branch office, state office, zonal office and head office.  However, hierarchical structures do not facilitate innovation. At Liberty Videocon General Insurance, there are only four levels between the CEO and the customer, creating a linear structure, which makes communication easier. They are better able to understand what the consumer wants, how he wants it, at what price and how it will be served."

The objective of setting up a Center of Excellence for Insurance is to create a Global Knowledge Platform. The creation of this platform will help MISB Bocconi to foster a partnership with the corporate community, which will enable it to enrich its programs and drive value across the industry and student community.

About MISB Bocconi

MISB Bocconi, located in Mumbai, is the only offshore presence of Universita¥ Bocconi, Milan, Italy, one of the world's top universities for management and economics. MISB Bocconi offers post-graduate management and post-experience executive education, designed and taught by the faculty of SDA Bocconi School of Management, which is the few Business Schools in the world to hold the Triple Crown Accreditation. SDA Bocconi faculty brings to the classroom a solid academic background, with more than 200 papers in A level journals every year; a strong professional experience developed in strategic consultancy and companies and institutions' boards across the world.

For further information, please contact:
Sukita Tapadia                          | Meghana Bangalore
Head Digital Marketing                | Adfactors PR, Mumbai
+91 7710925902                        | +91 9819120245
sukita.tapadia@misbbocconi.com  | meghana.bangalore@adfactorspr.com
 

 

Source: By E-mail (January 12, 2016)

Published on IndianMBA.com on January 13, 2016

 

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