Eastern Region Insurance Summit 2017

“Exploring operational and customer service excellence”

thOn 4 of August 2017 at Lalit-Great Eastern, Kolkata

Knowledge Partner :

Price water house Coopers Private Limited

Organized by :

Association of Micro FinanceInstitutions - WB

AMFI-WB

EC - 76, Sector - I, Salt Lake City, Kolkata - 700 064, West Bengal, India

AC-128, Sector - I, Salt Lake City, Kolkata - 700 064, West Bengal, IndiaPhone: +91 33 46003921, +91 9007508415, +91 9831313992, E-mail : wb.amfi@gmail.com, info@amfi-wb.org, Website : www.amfi-wb.org

Fax: +91 33, 46003921Corporate Office :

Reg. Office :

Our Dignified and Valuable Sponsors

Communication and Contact Details of AMFI-WB

Principal Sponsor :

Co-Sponsor :

NABARD

HDFCERGOGENERAL INSURANCE

Associate Sponsor

Knowledge partner: Digital Partner

Contact : Mr. Asit Kumar Mitra & Mr. Susen Dutta

About Eastern Region Insurance Summit 2017 :

Role of Microfinance Institutions in Insurance industry and especially in micro insurance segment :

The microfinance industry, especially in India, has been a strong enabler in including the financially under served and unserved in the formal financial ecosystem. Now the sector has started looking beyond micro credit areas, engaging themselves in promoting and distributing micro insurance products which can be leveraged with their core activity with a view to provide more and more service and products to prospective customers. Designed with the objective of protecting poor people keeping in mind their environment, needs, and possibilities, micro insurance is different from traditional insurance products.

Insurance as a microfinance product – rural and urban finance and investment

Financial inclusion has always been at the forefront in India but the last decade saw a strategic shift from credit focus to a more holistic approach such as opening bank accounts or getting access to add-on products like insurance. This new approach has initiated a change in the core financial architecture of India's economy.

Today, India has a diversified banking sector that addresses the needs of various sectors. However, traditionally, banks have not focused much on the economically backward class.

The term micro-Insurance signifies a low value insurance product designed for low income earners. This is meant to provide the poor with some protection, peace of mind and dignity. Building on the recommendations of the consultative group, IRDA notified Micro-Insurance Regulations on 10th November 2005 to promote and regulate micro-insurance product. The regulation focuses on distribution channels like Partnership model, Agency model, and Micro-agent model.

This is where the MFIs play a crucial role. They can provide insurance coverage to the clients through their own products or following the partner agent model, thereby distributing products of insurance companies. To remain competitive insurance companies are joining hands with MFI's to increase their penetration. MFIs get involved in insurance for a variety of reasons, like offering insurance to protect the poor, to ensure that workers and their family members have access to an affordable social protection, risk prevention and coping mechanisms. Other MFIs primarily want to protect themselves. They want to offer insurance to reduce credit risks stemming from the death or illness of borrowers.

Objective of the Summit :st·The AMFI-WB 1 Eastern Region Insurance Summit 2017 seeks to provide a central platform

to all the relevant stakeholders, namely the regulator, shareholders, management of insurance companies, investment analysis, distributors, brokers and consumers an opportunity to explore through Micro finance and banking industry, debate and discus the appropriate path to delivering the rightful protection to the insurance consumer and fair value to the shareholders. Any possibilities of General Insurance in MF Industry particularly for agriculture, livestock and so on.

·The summit aims at having robust and key focused area discussions and knowledge sharing on the key challenges and opportunities by bringing the entire ecosystem of the Insurance Industry operating in MF Industry in India in one global platform to discuss, share knowledge, network and enhance business development.

·The importance of general insurance beside life insurance in MF sector and searching for opportunities.

·A special session by Insurance Regulatory Development Authority of India

·To facilitate dedicated panel discussion on inventive product development &product innovation for benefit of both MFI and Borrowers.

About the summit :st

The AMFI-WB 1 Eastern Region Insurance Summit 2017 aims to become a forum for various stakeholders such as the regulator, shareholders, management of insurance companies, investment analysis, distributors, brokers and, consumers giving them an opportunity to liaison about various issues pertaining to the sector. The summit seeks to explore the Micro finance and banking industry at large, debate and discus the appropriate path to delivering the rightful protection to the insurance consumer and fair value to the shareholders.

Discussions will focus on the following themes :

The Ecosystem of Micro Insurance sector in India

In India, it is often assumed that a microinsurance policy is simply a low -premium insurance policy. There are a number of other important factors, which is characteristic of low income clients :

·They live in remote rural areas, requiring a different distribution channel to urban insurance products

·They are often illiterate and unfamiliar with the concept of insurance, requiring new approaches to both marketing and contracting

·They tend to face more risks than wealthier people do because they cannot afford the same defense mechanisms. So, for example, on average they are more prone to illness because they do not eat as well, work under hazardous conditions and do not have regular medical check -ups;

·They have little experience of dealing with formal financial institutions, with the exception of the National Bank of Agriculture and Rural Development (NABARD) Linkage Banking programme;

·Lower-income group often have higher policyholder transaction costs. Thus a middle -class, urban, policyholder can send a completed claims form to an insurance company with relative ease: a quick call to the insurance company, receipt of the claims form by post, and then return of the form by post. For a low-income policy holder, submitting a claims form may require an expensive trip lasting a day to the nearest insurance office (thereby losing a day of work), obtaining a form and paying a typist to type up the claim, sending in the claim, followed by a long trip back home. Aside from the real costs of doing this, the low -income policyholder may be uncomfortable with the process; clerks and the other officials are often haughty with such low-income clients and can make clients feel ill at ease.

·Designing microinsurance policies requires intensive work and is not simply a question of reducing the price of existing insurance policies.

Exploring Operational and Customer Service Excellence

The main premise of micro insurance products in India would be to protect the needs of its consumers who more than often come from the lower income strata of the society. So the micro insurance products and services should factor in the socio-economic condition of the policy holder and benefits should be designed accordingly

There are a number of techniques that Indian insurers have used to gain the trust of potential clients. These include :

·Public reimbursement of claims, for example at village meetings. This can be used as a marketing opportunity to demonstrate with a real example the advantages of having insurance

·Exposure tours, where village leaders from villages with policyholders are sent to other villages to show the advantages of having insurance

·Regular public interaction of insurance providers and (potential) policyholders to clarify the insurance concepts and explain policies. Some examples that might help in different areas include meetings held after claims submissions, and at annual general meetings

·Careful, well-managed rejection of claims, where the reasons are made clear to all the villagers

·Monitoring of customer satisfaction, especially with respect to lapses and non -renewals, with a mechanism to act on the information that emerges from this monitoring

Enhanced use of technology

Technology is the biggest enabler when it comes to making micro insurance available in the remotest part of the country. With improving technological infrastructure (the Internet, cell phone networks), customers are making transactions without any physical contact with an MF credit officer. As a result, transaction costs have fallen and distance from a physical outlet is no longer a reason for exclusion.

In fact is microinsurance is to reach the remotest corner of the country, technology will be key. Falling prices of mobile broadband and the increasing availability of 3G, the new generation of wireless technologies, are

expected to improve internet access considerably in coming years. Advancements, such as satellite data, Global Positioning Systems (GPS) and point of sale terminals, have the power to improve micro insurance in a variety of ways. Technology is supposed to drive the development of financial services in two ways: by cutting costs, and bridging physical distance. These two issues – high operating costs and clients that are spread out and difficult to access – represent two of the biggest barriers to micro insurance development.

Health micro insurance also presents unique opportunities for technological innovation to increase client value. The tele- medicine aspect is another valuable offering, since many poor clients live in areas where physicians are scarce. Technology also plays a key role in health insurance schemes that offer “cashless” benefits and in detecting fraud.

·How RRBs, Consultants can be leveraged

For distribution of micro-insurance products, IRDA has said that regional rural banks, micro-finance institutions, district cooperative banks, non-governmental organizations, self-help groups, urban cooperative banks, banking correspondents and individual owners of kirana stores, public call offices, petrol bunks and fair-price shops in rural areas will be allowed to sell these products. The regulator has proposed that all micro-variable life insurance products shall have a lock-in period of five years from the date of inception of the policy, during which period surrenders are not allowed, but partial withdrawals may be permitted. Micro insurance agents may work with one life insurance Company and one general insurance company. They may also work with Agriculture Insurance Company of India for distributing micro-insurance products of crop insurance and with any one of the stand-alone life insurance companies for distribution of their health insurance products.

The Aims and Objectives :

India has perhaps the most exciting and dynamic microinsurance sector in the world. The aim of this Summit is to provide an overview of existing knowledge on the demand and supply of microinsurance in India, as a basis for reducing the vulnerability of poor and low-income people while developing new market opportunities.

Mr. Ajit Kumar Maity

Mr. Chandra Shekhar Ghosh

Mr. Pranab Rakshit

Mr. Manoj Nambiar

Mr. Vibash Chandra

Mr. Tamal Bandopadhyay

Mr. V. S. Radhakrishnan

Mr. Joydeep Kumar Roy

Mr. Kuldip Maity

Mr. Kartick Biswas

Mr. Abhiroop Chatterjee

Chairperson, AMFI-WB and Chairman, VFSPL

Former Secretary, AMFI-WB and MD, Bandhan Bank.

Secretary, AMFI-WB and MD, Sarala Development and Microfinance Pvt. Ltd.

MD, Arohan Financial Services Pvt. Ltd.

Board Member, AMFI-WB and RBM, Ujjivan Small Finance Bank Ltd.

Senior Consulting Editor, MINT & Adviser, Bandhan Bank

MD and CEO, Janalakshmi Financial Services Pvt. Ltd

Partner, PwC

Board Member, AMFI-WB and MD, VFSPL

Treasurer, AMFI-WB and MD, Uttrayan Financial Services Pvt. Ltd.

Board Member, AMFI-WB and CO, Ujjivan Small Finance Bank Ltd.

Member, AMFI-WB and MD, ASA International India Microfinance Pvt. Ltd.

Board Member, AMFI-WB and CEO, BJS

Member, AMFI-WB and MD, Jagaran Micro Finance

Mr. Anjan Dasgupta

Mr. Biswajit Das

Mr. Jayanta Majumder

Eastern Region Insurance Summit 2017Group of Advisors :

Program ScheduleEastern Region Insurance Summit 2017 “Exploring operational and customer service excellence”

thOn 4 of August 2017 at Lalit-Great Eastern, Kolkata

Date : August 4, 2017

Venue : Lalit Great Eastern

Agenda

10 AM to 10.15 AM: Registration

Anchor: Mr. Anjan Dasgupta, MD, ASAI

10.15 AM to 10.45 AM: Inaugural Session on the theme of the event “Exploring operational and customer service excellence”

Speakers

Welcome address – Mr. Ajit Kumar Maity, Chairperson, AMFI-WB

Key note address - Mr. Chandra Shekhar Ghosh, Former Secretary, AMFI-WB

Delegate from Finance Secretary, Govt. of West Bengal. Yet to be confirmed

10.45 AM to 11.45 AM: Plenary session

Penetrating the rural economy using cutting edge technology

The Indian microfinance industry, has been a strong enable in including the financially under served and unserved in the formal financial ecosystem. In fact for microinsurance to reach the remotest corner of the country, technology will be key. Falling prices of mobile broadband and the increasing availability of 3G, the new generation of wireless technologies, are expected to improve internet access considerably in coming years. Advancements, such as satellite data, Global Positioning Systems (GPS) and point of sale terminals, have the power to improve micro insurance in a variety of ways. Technology is supposed to drive the development of financial services in two ways: by cutting costs, and bridging physical distance.

Speakers

Mr. Arnab Basu, Partner, PwC

Sri Bikram Kumar Das, DGM, NABARD

Mr. Rajiv Kumar, Chief of Risk, Bajaj General Insurance Company.

Vote of Thanks : Mr. Kartick Biswas, MD, Uttrayan Financial Services Pvt. Ltd.

11.45 AM to 12 PM: Tea Break

12PM to 1 PM: Panel Discussion 1

Life Cover:Move from loan recovery to client protection

The most common type of micro insurance, is life insurance. Widely viewed as the simplest type of micro insurance, life coverage is in some ways quite complex and varied. So far MFIs are only focusing on recovering their loan amount and not looking at utmost client protection from all aspects of socio economic background. The MFIs could look at developing a combined package by getting approval at the policy level from IRDA, benefitting both the end consumers as well as the MFIs.

Moderator – Mr. Amit Roy, Director, PwC

Mr. G. V. Ramana, Exeutive Vice President & Zonal Business Director, for East, Star Union Daichi Life

Mr. Neeraj Maheshwari, Sr. Vice President & Head of Group and Partnership Distribution, DHFL Primerica Life Insurance Co. ltd.

Mr. Joydeep Roy, Partner, PwC

Mr. Sankalp Tripathy, Manager, Grievance Redressal, MFINMr. Kuldip Maity, MD, VFSPL

Vote of Thanks : Mr. Alok Biswas, MD, Janakalyan Consultancy and Services Pvt. Ltd.

1.00 PM to 1.45PM: Lunch

1.45 PM to 2.45 PM: Panel Discussion 2

Health Cover: Mitigation of the damaging effects

Health micro-insurance referred by different names such as community-based health insurance, micro-health insurance, mutual health insurance, community-based health financing, community health insurance etc. is a form of micro-insurance in which resources are pooled to mitigate health risks and cover health care services in full or in part. Health micro-insurance schemes are quite complex in nature compared to life insurance schemes, as they provide services towards specific risks or illnesses and involve the role a health care provider, whether independent of or in partnership with the scheme. Health micro insurance is important for the poor because health risks are often identified by the poor as the greatest and costliest risks among all other natural, social, economic risks faced by them. Health problems not only impact expenditure of the household, but also reduce the productivity and lessen the opportunity for growth.

Moderator – Mr. Tamal Bandopadhyay, Senior Consulting Editor, MINT & Adviser, Bandhan Bank

Mr. Parthanil Ghosh, Head Retail Sales, Open Market at HDFC Ergo, General Insurance Company Ltd.

Mr. Ashutosh Shrotriya - Product & Business Process Head from Religare Health Insurance Company Limited (Standalone Health Insurance)

Dr. Ajay Verma, Head Rural and Weather Micro Insurance, Future Generali India Insurance Company Ltd.

Mr. Pranab Rakshit, MD, Sarala Development and Microfinance Pvt. Ltd.

Vote of Thanks : Mr. Bishwajit Das, CEO, BJS

2.45 PM to 3 PM: Tea Break

3PM to 4PM: Panel Discussion 3

Insurance of the agrarian economy

Insurance protects against loss of or damage to crops or livestock. It has great potential to provide value to low-income farmers and their communities, both by protecting farmers when shocks occur and by encouraging greater investment in crops. However, in practice its effectiveness has often been constrained by the difficulty of designing good products and by demand constraints. Agricultural insurance can indemnify policyholders for losses which can include Hut, Cattle, Coconut, Seed Crop, Pumpset, etc. although most of them have been exempted from GST to help afford ability, such indemnity products are relatively rare due to the high costs of administration and the risk of fraud. Agricultural microinsurance is index-based, providing farmers with payouts tied to the performance of an index (such as a rainfall gauge), rather than insuring them for crop losses actually experienced.

Moderator – Mr. Joydeep Roy, Partner, PwC

Mr. Jaydeep Sengupta, DGM, National Insurance Company Ltd.

Mr. Rajiv Kumar, Chief of Risk, Bajaj General Insurance Company.

Delegate from United Phosphorus for weather risk representation

Mr. John Maine, Co-Founder and CEO, Future First Insurance Broking Pvt. Ltd.

Delegate from SBI General Insurance

Vote of Thanks : Mr. Animesh Naiya, Secretary, DCBS

4 PM to 4.15 PM: Closing Remarks

By Mr. Kartick Biswas and Mr. Pranab Rakshit

Speakers Profile

Association of Micro FinanceInstitutions - WB

AMFI-WB

Mr. Ajit Kumar Maity presently working as Chairperson, AMFI-WB and Chairman, Villages Financial Services Pvt. Ltd. He is the Pioneer of Micro Finance Industry in Eastern Region of India. He started his career as a School Teacher. He first formed an NGO called Village Welfare Service for development of poor and downtrodden. After that he started micro finance activities and become the NBFC-MFI in West Bengal. He was the Governing Board Member of Rashtriya Mohila Kosh, Sa-Dhan and many other reputed organization.

Mr. Ajit Kr. Maity, Chairperson, AMFI-WB:

·Member of Managing Committee of Indian Banks' Association (IBA)

·Member, National Executive Committee, Federation of Indian Chambers of Commerce and Industry (FICCI)

·Member, UK - India Financial Partnership (UIFP) Committee

·Member of Micro, Small and Medium Enterprises (MSME) sector committee, Government of West Bengal

·Vice President, The Bengal Chamber of Commerce and Industry (BCCI)

·Chairman of CII Economic Affairs, Finance & Taxation Committee

·Member, Inclusive Governance Council (IGC), Federation of Indian Chambers of Commerce and Industry (FICCI)

·Co-Chair, Financial Inclusion Committee, Federation of Indian Chambers of Commerce and Industry (FICCI)

·Member of following committees constituted by The Confederation of Indian Industry (CII)

ØNational Committee on Banking 2016-17

ØNational Committee on Non-Banking Financial Company

ØSocial Development and Community Affairs

Mr. Ghosh was elected as 'Senior Ashoka Fellow' in 2007 by Ashoka Foundation (social entrepreneurship award). In the year 2014 he won Forbes India Leadership Awards in the category 'Entrepreneur with Social Impact'. He was also declared 'Entrepreneur of the Year' by India's leading business daily 'The Economic Times' in 2014. He received Microfinance India Awards 2015 in the category 'Lifetime contribution to the sector by an individual';he was also conferred with the 'Outstanding Leadership' Award 2015 by Dhaka University Statistics Department Alumni Association (DUSDAA), Bangladesh and has been bestowed with 'Entrepreneur of the Year' Award in the category 'Financial Services' by Ernst & Young. He has been awarded with the Management Excellence Awards 2016in the category “Corporate Leadership”by Calcutta Management Association (CMA) and also bestowed with the honour “Swarna Samman” by Senco Gold & Diamonds. Recently, Mr. Ghosh has received the CNN-News 18 “Indian of the Year” award in the 'Business' category.

Mr. Ghosh is a M.Sc. in Statistics and has attended the HBS-ACCION Program on Strategic Leadership at Harvard Business School.

Mr. Chandra Shekhar Ghosh, Founder, Managing Director & CEO, Bandhan Bank Ltd.

Neeraj Maheshwari is a young and versatile leader, currently heading the Group Business & Partner Distribution vertical at DHFL Pramerica Life Insurance Co. Ltd. His key responsibilities include managing Sales & Distribution and Business Development activities in the Rural & Co-Operative Banks, NBFCs, Micro Finance Institutions and Employee Benefits space.

He is also responsible for identifying, building and managing non-conventional & emerging markets as new channels for distribution of insurance, with great focus in the financial inclusion segment.

He has been instrumental in building a sustainable business portfolio and developed excellent business relationships with key Institutional business partners.

With over 11 years of experience in the insurance industry, Neeraj has grown swiftly in his field with his vivid expertise of the micro insurance and financial inclusion segment. Previously, Neeraj has held role in Bajaj Allianz Life Insurance Co. Ltd., ICICI Prudential Life Insurance, INGVysya Life Insurance as a business development expert. In his previous role, he has been instrumental in turning around Bajaj Allianz Life Insurance's micro-insurance business, with impressive growth in the book size.

He holds an MBA in Finance & Marketing. He has participated in several National & International conferences on Micro-insurance & Rural Distribution models in Manila, Singapore, etc.

He is an avid traveler and loves to explore cities and different cultures.

Corporate Profile - Neeraj Maheshwari

Mr. Tamal Bandopadhyay is a one of the most respected Business journalist in India. He is currently a consulting Editor of Mint, India's second largest read business daily. He is also an advisor, strategy of Bandhan Bank Ltd.

His weekly column Bankers's Trust is widely read for incisive analysis of the developments in Indian financial Sector.

He has authored two books on finance- “A Bank for the Buck” and Sahara: The untold story' both the books have been best sellers.

He had to fight Rs. 200 crore defamation suit to get the second book published.

Mr. Tamal Bandopadhyay, Consulting Editor, Mint and Advisor, Bandhan Bank:

A Masters in Business administration having a long experience in the field of Finance and Accounts in different corporate houses. He is also a successful entrepreneur. He is currently on the Board of SA-DHAN and Vice President, AMFI-WB. Mr. Rakshit is associated with Sarala Development & Microfinance Pvt. Ltd., an NBFC-MFI as Chief Executive Officer since June 2006. Mr. Rakshit has made a name as a dynamic microfinance practitioner.

Mr. Pranab Rakshit, MD, Sarala Development and Micro Finance Pvt. Ltd.

Neeraj Maheshwari – Senior Vice President & Head – Group & partnership Distributions, DHFL Pramerica Life Insurance Co. Ltd.

Mr. Kartick Biswas is the director of Uttrayan Financial Services Pvt. Ltd and associated with microfinance and capacity development related activities for the last 15 years. He is an expert in SHGs, JLGs, rural appraisal, finance, funds, operations and project monitoring. He is the present Secretary of AMFI-WB. He understands & well manages business plan. He was part of the core team, which set up and built Uttrayan from inception. As the Head of Uttrayan, his role included building and growing the company's portfolio in these sectors. He has good leadership qualities and can lead and represent the organization in all areas. He has enriched his knowledge by attending different programmes and seminars on this field organized by different leading institutions for institutional development. Training imparted from RMK, NMDFC- New Delhi, Planet Finance, EDA, Bandhan and Care India.

Kartick Biswas, MD, Uttrayan Financial Services Pvt. Ltd.

Mr. Amit Roy, Director, PwC

Amit is a Director in the advisory practice with a focus on Insurance sector. With the extensive exposure that he has in the areas of Distribution Management, Customer Relationship Management, Strategic Turnaround & establishing New Business Models across geographies that he helps the clients in building up their businesses with right values. Amit is a business leader with 23 years of in-depth experience in setting up Insurance businesses with right focus on all relevant stakeholders. He is a Bachelors of Science with Physics, he is also Post Graduate in Business Administration & General Management – from Indian School of Business, Hyderabad. He has done Certification programme on competitive Marketing Strategy & Corporate Development: Mergers & Acquisitions from Wharton & Kellogg Business School.

Professional History: He has strong domain knowledge with required technical expertise in the areas of risk & Compliance, Insurance Act & related legal aspects. He has been closely associated with journey of 2 Insurance companies from scratch to healthy profitability with sustainable quality business, was involved in various Strategic projects to turnaround business in various companies at challenging times. He has authored many articles in leading magazines and daily. Presently in Price water house Coopers, FS Advisory Director Chief Distribution Officer of Aegon Life Insurance Co. Ltd. He was appointed Head of Sales and Distribution (Top Cities) – Reliance Life Insurance Co. Ltd. Mr. Amit was designated as Vice President –in Bajaj Allianz Life Insurance Co. Ltd.

Mr. Joydeep Roy, Partner, PwC

Joydeep is a Partner in the Advisory practice with a focus on Insurance Sector. As the segment leader he drives thought leadership for the sector and helps clients build value and effectiveness from their international hubs. He has over 25 years of industry experience. Joydeep brings knowledge and experience and helps to strengthen and enhance the firm's Financial Services Advisory practice. He focuses on customer service and in building innovative technological solutions. He has been part of the founding team of AIG's Life Insurance JV in India, and his last assignment there was the Chief Distribution Officer of the Life Insurance business. He was selected by AIG as a part of the very prestigious GMEDP program, the only Indian among a select group

of 22 people, who dealt with many live Life Insurance projects across the globe from USA, Europe, North Asia and South East Asia. Joydeep has extensive experience in negotiating Reinsurance Treaties and Facultative Reinsurance across London and Singapore Markets for his company and also in representing the Reinsurance Market in his role as Leader of the General Insurance Sub Committee in various Government forums including in front of the Parliament committees. Joydeep was nominated to the Board of Insurance Information Bureau of India in 2013 by the Insurance Regulator (IRDA) as an Independent Board Member in his personal capacity. He served on the Board for 3 years. In this capacity he has had extensive exposure to regulatory processes and policy making in matters of Insurance and Reinsurance data and analytics matters including rate adequacy, medical and motor insurance market modernisation, and overall risk calculation including heat maps of risk in India.

Joydeep is a PGDM from IIM Calcutta and also a Mechanical Engineer. He is recipient of the prestigious “Asia IT Leadership Award in Insurance” in 2011, an award given away by Asia Insurance Review and Celent in Seoul, South Korea in November 2011. He is also a prominent speaker in several National & International forums. He is a member of the CII National Committee for Insurance and Pensions. He has been on the Board of Insurance Information Bureau (IIB) set up by the Regulator from 2013-2016. He has been a founder Director of the Financial Planning Standards Board and was one of the first CFPs (Certified Financial Planner) in India.

Dr. Ajay Verma

Dr. Ajay Verma holds a Post-Graduation in Veterinary Science from JNKVV, Jabalpur in 1981 and has served Gujarat Agricultural University in Anand, JN Agriculture University in Jabalpur and Government of Madhya Pradesh. He was associated with Oriental Insurance Company as AAO and took voluntary retirement from the position of Sr. Divisional Manager in 2008 after serving for 25 years across various locations.

In 2008, he joined Future General India Insurance Company Limited as Rural Business head and was responsible for setting up the entire vertical for product development, designing various business processes, business development and inducting suitable man power.

Rural Business Development has been a significant activity since the inception of Future Generali India Insurance Company Limited. All possible products which are suitable for the rural and semi-rural areas were developed after thorough on the ground research and feedback across geographies. These products were Livestock, Agricultural Pump sets, Farmers Package Insurance, Micro-insurance, Weather Insurance for Crop etc.

He explored many innovative channels for distribution of company's products to a large section of society. This underprivileged and financially unsecured society was largely benefitted through the above mentioned insurance products. Dr. Verma contributed towards Financial Inclusion by participating in government sponsored Weather Insurance and National Health Program like RSBY. He also tied up with many MFIs, NGOs and Rural banks to distribute various customized low ticket size products to the customers.

Head, Rural, Weather and Micro-insurance Business

Future Generali India Insurance Company Limited

Head Office, Mumbai

Mr. Kuldip Maity, MD, VFSPL

Dr. Kuldip Maity, 38 Managing Director of Village Financial Services Private Limited(VFS) is a dedicated silent social worker engaged in serving the underprivileged, disadvantaged and downtrodden sections of the society to bring cheers in their lives for the last more than two decades. Dr. Kuldip Maity is a highly educated and widely trained internationally reputed expert in the field of Micro-Finance. Born in Kolkata, he had his education in West Bengal. He is a PHD, MBA, MSW from Calcutta University. Dr. Kuldip Maity a Leading National Resource Person in the Micro Finance Sector has undergone Intensive Training in Micro Finance at a number of Workshops, Seminars etc. organized by acclaimed national and International agencies like

SIDBI, NABARD, NMDFC, CARE, NIPPCCD, RBI, ISB, CII, etc. He has studied International and Microfinance Practices in a Number of Countries in Asia and Africa.Dr. Kuldip Maity has revolutionized the concept of micro finance through the VFS during the last one decade, extending micro finance lakhs of beneficiaries were benefitted as per their needs. A huge numbers of small traders, street vendors, cart pullers, hawkers, farmers, landless laborers, small artisans, poor women and their self-help groups in various states of India .As there is an acute need among the poor for credit that often forms the deciding line between their survival and their succumbing to poverty. He selflessly helped them to earn their livelihood with self -respect and dignity.

Shri Bikram Kumar Dash is working as a Deputy General Manager in NABARD Regional Office, West Bengal. Prior to joining NABARD, he worked in commercial bank for two years. Currently, he is heading the business and finance department at West Bengal Regional Office of NABARD. He has more than 15 years of experience in micro finance area. While working in micro Credit Innovation Department, he got the opportunity to promote various group mode of financing viz; Self Help Goup Bank linkage Model, SHG federation model, Joint Liability Group Model in (LWE) affected areas of the country. Previously, he worked in Gujurat, Assam, Andhra Pradesh, Jharkhand Regional offices and as District Development Manager in Sambalpur District of Odisha.

Left Wing Extremism

Shri Bikram Kumar Dash, DGM, NABARD

Ashutosh Shrotriya has over 12 years of experience in the insurance industry spanning across General Insurance, Life Insurance as well as Specialist Health Insurance Company. Health Insurance has been one of the key focus areas where he has handled multiple roles including distribution as well as product strategy. He currently heads Products and Business Process for Religare Health Insurance Company Limited.

Mr. Ashutosh Shrotriya, heads Products and Business Process for Religare Health Insurance Company Limited.:

Sankalp Tripathi has joined as Manager - Grievance Redressal, as part of SRO team at MFIN. Sankalp comes with three years of experience. Prior to MFIN, Sankalp was working with GIZ on rural insurance and agriculture value chain development projects. He has worked briefly with Yes Bank and Ananya Finance on internship assignments related to financial literacy, process mapping and loan product development. Sankalp has a Post Graduate Diploma in Rural Management from IRMA, Anand and a Master's degree from TISS, Mumbai.

Sankalp Tripathi, Manager, Grievance Redressal, MFIN

Mr. Parthanil Ghosh joined HDFC General Insurance ( erstwhile L&T Insurance ) in the year 2010. Since then, he has been an indispensable part of the organization having looked after both retail & commercial business in his capacities of Zonal Head of North & East. He has also led the organization in their foray in Government Health business in 2012 apart from a part of a number of strategic initiatives that the organization undertook from the inception. Post the acquisition of L&T Insurance by HDFC ERGO General Insurance in 2016, Parthanil has been heading the non-Bancassuarnce Retail Business of the combined entity and is a member of the Executive Management of HDFC ERGO.

Mr. Ghosh has a rich experience of over 25years, with more than 20 years in financial services. He began his career in 1992 with NIIT Limited, the pioneering organization dealing with IT Consultancy & Education. In 1994, he moved to Nicco UCO Finance Limited, a JV company between UCO Bank (a Government owned bank) and NICCO group. In 7 years of association with Nicco UCO, he moved on to become their Head of Asset Finance. Mr. Ghosh then joined ORIX to look after Operating & Financial Lease of the organization. Before joining L&T Insurance, he was the Chief Business Officer of Family Credit Limited , subsidiary of Societe Generale Bank of France.

Mr. Parthanil Ghosh, Head - Retail Business (Open Market), HDFC Ergo General Insurance Company Ltd.

G V Ramana, Executive Vice President & Zonal Business Director – East:

Mr. G V Ramana has 32 years of experience in Life Insurance industry, having worked at senior levels in LIC in India and abroad prior to joining SUD Life in 2009 as its first Head of Distribution. He is currently managing the Eastern Zone of the Company which is headquartered at Kolkata. He presently working in Star Union Dai-ichi Life Insurance Company:A Joint Venture of Bank of India, Union Bank and Dai-ichi Life of Japan, SUD Life is a leading second generation Bancassurance company having started its operations in year 2009. The company is performing very well in terms of Year on Year New Business growth, Renewal persistency and in Claims settlement. SUD Life supports insurance sales through more than 10,000 Bank Branches of both the partner Banks and their 5 Regional Rural Banks.

Mr. John Mayne, Co-Founder and CEO, Future First Insurance Broking Pvt. Ltd.

John an alumini of St Xavier’s College. Calcutta University and the prestigious INSEAD Business School, France, has 23 years of experience in Banking. Insurance and Micro Finance. After a successful career in leadership roles in various industry, he set foray into entrepreneurship through companies across micro finance, healthcare and insurance.

After a successful career in banking in various banks like HSBC. Global Trust Bank and American Express. he switched over to insurance in 2002 and joined Aviva Life Insurance and went onto become Aviva’s Regional Director. After a successful stint, he quit Aviva in 2009 and founded a micro finance company in India. Called Anjali Mtcrofinance. which has over 6000 units across Eastern India. He later moved to Nigeria in early 2014 on a special assignment for Nigeria's largest NBFC - ARM to set up the Sales and Distribution for a Life Insurance company which was being acquired jointly by ARM and Leapfrog Investment. John also launched the ARM Financial Advisers Pic -a company focused on tapping the emerging retail market in Nigeria. He has a keen interest in businesses at the bottom of the pyramid in the emerging markets.

John has deep interest in music, arts and culture and also is an avid singer.

Mr. Naiya has more than 14 years hands on experience and wide exposure in micro finance activities. He have attended several training programmes, meetings & seminars, arranged by ACCESS Development Services, SADHAN, AMFI, NAM , M2i etc. He is present Board member of AMFI-WB.

Mr. Animesh Naiya, Secretary, DCBS:

Mr. Alok Biswas , Managing Director & CEO of Janakalyan , an NBFC-MFI , is a strategic leader with experience of over 27 years in business management and operation management in the BFSI industry , especially in NBFC-MFI domain. He has been closely involved with sustainable development, micro entrepreneurship programmes, educational support etc. to improve the quality of life in rural India.

Started his career with Canara Bank (1989-1993) and worked in rural credit in remote villages of West Bengal, especially in developmental schemes apart from Corporate Credit. Joined Indian Bank as Probationary Officer in June 1993 and worked there till 2001, in various capacities across the country. Joined UTI Bank (subsequently renamed Axis Bank) in September, 2001 and worked there till June, 2010, the last assignment being as Vice President & Cluster Head- in charge of Odisha, Chattisgarh and Jharkhand.

Started Jagaran, an NBFC-MFI in December, 2010 as founder MD ( 2010-2016), leading it to become one of the market leaders in West Bengal, with Rs 175 Cr of loan portfolio, presence in six States in Eastern India with excellent repayment and profitability track record as also strong operational efficiency with 76 branches at the time of his resignation.

Mr. Alok Biswas, MD, Janakalyan Consultancy Services Pvt. Ltd. :

Hardcore finance and Banking Professional. Working as Managing Director of ASA India. Having a immense 30 years' experience in the sectors such as Banking, Finance and Microfinance. Previously worked as CFO in Saija, Bihar. The largest state grown Microfinance NBFC, jointly owned by ACCION, USA. Previous to joining this sector he was the Managing Director of a bank in Sikkim. Has an extensive understanding of Microfinance, Livelihood interventions. His experience also includes revival of financial troubled banks and financial organizations.

Mr. Anjan Dasgupta, MD, ASAI:

Long 26 years of experience in Micro Finance and social development fields. Worked in nationally and internationally reputed leading organizations in various responsible positions. Having wholehearted interest and devotion in social development works. Received a good number of trainings from world famous organizations / financial institutions like - UNITUS (Global Microfinance Accelerator), Access Development Services (ADS), ABN AMRO, Planet Finance. A vivid personality in every step of the growth-stair of BJS. He is the present Board Member & Treasurer of AMFI-WB.

Mr. Bishwajit Das, CEO, BJS:

Sponsors’ Profile

Association of Micro FinanceInstitutions - WB

AMFI-WB

HDFC ERGO General Insurance Company Ltd.

HDFC ERGO General Insurance Company Ltd. is a 51:49 joint venture between HDFC Ltd., India's premier Housing Finance Institution and ERGO International AG, the primary insurance entity of Munich Re Group. The Company offers complete range of general insurance products ranging from Motor, Health, Travel, Home and Personal Accident in the retail space and customized products like Property, Marine and Liability Insurance in the corporate space.

HDFC ERGO endeavors to improvise and cater to every need of the modern day customer with superior customer support service through automated processes. This helps to provide customers a seamless and hassle-free experience.

HDFC ERGO is expanding its network across the country and is today present in 108 branches spread across 91 cities with an employee base of over 2000 professionals. The Company also has a wide distribution network comprising of brokers, retail and corporate agents, bancassurance besides its own direct sales force. HDFC ERGO has been assigned 'iAAA'rating by ICRA indicating its highest claim paying ability. We have been certified with ISO certification for our claim services, policy issuance, customer servicing and standardization and uniformity of Information Security processes being followed across all branches & locations.

HDFCERGOGENERAL INSURANCE

DHFL Pramerica Life Insurance (DPLI)

DPLI is a joint venture between DHFL Investments Limited (DIL), a wholly-owned subsidiary of Dewan Housing Finance Corporation Ltd. (DHFL), one of India's largest housing finance companies (the second largest in the private sector) and Prudential International Insurance Holdings, Ltd. (PIIH), a fully owned subsidiary of Prudential Financial, Inc. (PFI), a financial services leader headquartered in the U.S. DPLI represents the coming together of two renowned financial services organizations with a legacy of business excellence spread over decades.

DPLI has a pan India presence through multiple distribution channels which have been customized to address the specific insurance needs of diverse customer segments. The Company is committed to providing protection and quality financial advice to its customers. For further information on the Company, please visit www.dhflpramerica.com.

DHFL was founded in 1984 by Late Shri Rajesh Kumar Wadhawan with a vision to provide financial access for Indians to own a home of their own. Today, led by Mr. Kapil Wadhawan, CMD, DHFL, the company is CARE Triple A rated and reckoned as one of India's leading financial institutions with a large presence across the country, in addition to representative offices in Dubai and London.

Throughout its years of growth, DHFL has stayed true to its core vision of financial inclusion, especially to the low and middle income customers across India. The company's wide network, coupled with insights into local customer needs, has enabled the company to provide meaningful financial access to customers even in India's smallest towns. With a strong business foundation, an extensive distribution network, proven industry expertise and a deep understanding of the Indian customer, DHFL is a respected and trusted financial services company in India with a concerted focus towards enabling home ownership to the low and middle income customer. For further information, please visit www.dhfl.com.

Green light Planet :

Company Profile :

Greenlight Planet is a global leader in delivering honest, affordable energy to the world's 2 billion under-electrified households. Greenlight has delivered over 4.3 million Sun King™ solar lights in 40+ countries through 250+ strategic partnerships such as with Bandhan, SKS, SARALA, SAIJA, DCBS, Fullerton, ESAF, TOTAL, Airtel, among others.

Sun King™ lanterns and home systems have been rated as the best globally by IFC/World Bank, MIT, Economist etc. and come with features such as 5-years battery, 45-hours run time, water-resistant and unbreakable among others.

For more details on Sun King products / how we work with our partners, you can contact Amit Maheshwari ( a m i t . m a h e s h w a r i @ g r e e n l i g h t p l a n e t . c o m , + 9 1 - 9 5 7 3 7 9 2 2 4 4 ) a n d S a h i l K h a n n a (sahil@greenlightplanet.com, +91-9999109871).

The Association of Micro Finance Institutions - West Bengal (AMFI - WB) is an institution which endeavors to promote and develop microfinance in the State. With a membership of 30 Micro Finance Institutions, AMFI – WB currently caters to around 45 lakh poor women by providing them with financial services, especially micro credit. AMFI – WB regularly conducts stakeholder meets at the district level, management development programs for its members, microfinance industry-related seminars & workshops, and member meetings on matters of mutual interest. For more information about AMFI-WB service offerings, visit www.amfi-wb.org.

Price water house Coopers Private Limited :

At PwC, our purpose is to build trust in society and solve important problems. We're a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

In India, PwC has offices in these cities: Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai and Pune. For more information about PwC India's service offerings, visit www.pwc.in.

National Bank for Agriculture and Rural Development (NABARD) :

National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution in India, headquartered at Mumbai with branches all over India. The Bank has been entrusted with "matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India". NABARD is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.NABARD Head Office at Mumbai.

NABARD was established on the recommendations of B.Sivaraman Committee, (by Act 61, 1981 of Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981. It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC). It is one of the premier agencies providing developmental credit in rural areas. NABARD is India's specialized bank for Agriculture and Rural Development in India.

NABARD

AMFI-WB(Association of Micro Finance Institutions – West Bengal)

Details of Member Organizations

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No.

Name of the

Organization

Name of Head of the Organization with

designation.

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Address for communication with contact details

Arohan Financial Services Private Limited

ASA International India Microfinance (P) Ltd.

Agradut Polly Unnayan Samiti

Asirvad Microfinance Pvt. Ltd.

Bandhan Bank Ltd.

Barasat Sampark

Belghoria Janakalyan Samity

Bharat Financial Inclusion Ltd.

Dhosa Chandaneshwar Bratyajana Samity

Dakshin Budhakhali Improvement Society (DBIS)

ESAF Small Finance Bank

JAGARAN MICROFIN PVT.LTD

Janalakshmi Financial Services Pvt. Ltd

Mr. Manoj NambiarMD

Mr. Anjan DasguptaMD

Mr. Uma Shankar MukherjiSecretary

Mr. R. Raghavendra, National Head, Operation

Mr. Chandra Shekhar GhoshCMD

Mr. Shubhendu Shekhar BiswasAssistant Secretary

Mr. Bishwajit DasCEO

Mr. Bir BhadarRM East

Mr. Animesh NaiyaCEO

Mr. Prasanta Kr. PandaSecretary

Mr. George K. JhonGM, Operation

Mr. Jayanta MajumderMD

Mr. V. S. RadhakrishnanMD & CEO

14. Janakalyan Consultancy & Services Pvt. Ltd.

Mr. Alok BiswasMD

16.

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17.

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27.

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30.

L & T Finance

Sarala Women Welfare Society

Sarala Development & Microfinance Pvt. Ltd.

Satin Credit Care Network Ltd.

Sampurna Training & Entrepreneurship Program (STEP)

Society for Model Gram Bikash Kendra

Seba Rahara

Sreema Mohila Samity

Srija Chemo Pvt. Ltd.

Swapnatari Financial Services Pvt. Ltd

Uttrayan Financial Services Pvt. Ltd.

Ujjivan Small Finance Bank

UNACCO Financial Services Pvt. Ltd.

Village Welfare Society

Village Financial Services Private Ltd.

Vedika Credit Capital Ltd.

Mr. Chandan Kumar PhukanRM East MFI

Mr. Pranab RakshitCEO

Mr. Pranab RakshitManaging Director

Mr. Partha MukherjeeDeputy COO

Mr. Abhijit BeraMD

Mr. G. C. ModakSecretary

Mr. Subroto GhoshSecretary

Smt. Bani SaraswatiSecretary

Mr. Ganesh Chandra ModakMD

Mr. Sudarshan SahaChairman

Mr. Kartick BiswasMD

Mr. Samit GhoshCMD

Mr. Nigobam Irabanta SinghMD

Mr. Ajit Kr. MaityCEO

Dr. Kuldip MaityMD

Mr. Goutam JainMD & CEO

EC - 76, Sector - I, Salt Lake City, Kolkata - 700 064, West Bengal, India

AC-128, Sector - I, Salt Lake City, Kolkata - 700 064, West Bengal, IndiaPhone: +91 33 46003921, +91 9007508415, +91 9831313992, E-mail : wb.amfi@gmail.com, info@amfi-wb.org, Website : www.amfi-wb.org

Fax: +91 33, 46003921Corporate Office :

Reg. Office :

Our Dignified and Valuable Sponsors

Communication and Contact Details of AMFI-WB

Principal Sponsor :

Co-Sponsor :

NABARD

HDFCERGOGENERAL INSURANCE

Associate Sponsor

Knowledge partner: Digital Partner

Contact : Mr. Asit Kumar Mitra & Mr. Susen Dutta