Mr. Sandeep Ghosh, Managing Director and Chief Executive Officer of Bharti AXA Life Insurance visited MYRA School of Business, Mysore to share his corporate experiences with the students who are on the verge of stepping out into the corporate world.
In his extempore delivery, Mr. Ghosh began by stating that the world out there is dramatically different from what it was two decades ago.
The key takeaways of the talk were the four very broad themes playing in the business world today- namely the
trust deficit that has plagued the current society; the
invasion of technology & digitization which has effectively destroyed the fundamental and traditional strong business models as is evident from the various e-business models; the
pace of change and the most significant factor that
Customers are in the driving seat today.
He reflected that while in the earlier days, knowledge and information were the USP of anyone who stepped out into the business world, today, with just these, one could be a sure recipe for failure. It is the need of the hour and a constant challenge for business houses to remain ahead of the curve and to constantly grapple with the continuous need to be flexible & adaptable to such rapid changing needs; with the Internet of Things, it is vital to possess 'people skills' and the right skills to distil the available random information into critical information to make the best decisions.
With more than 4000+ schools turning out managers every year, there is obviously no dearth of managers but the key differentiators are and will continue to be those that possess the soft skills to work collaboratively, with utmost integrity, cooperation, workplace discipline, the ability to deal with rapid change, and with a vision on today & more importantly, on tomorrow, he advised.
Mr. Sandeep Ghosh then focused on the challenges of scale in distribution and bringing a heightened sense of customer centricity in the insurance sector. According to Mr. Ghosh, re-engineering the organizational processes in the context of digitization to provide a choice of access to the customers and designing more transparent products will make customers and all the stakeholders from government-to-regulators-to-shareholders happy. Careers in the insurance sector will emerge in these sectors of process and product improvements. In the absence of government support and a social security system, India is the best market for insurances as it is inevitable for people to protect themselves and their families from both early death and longevity of life. Various apps to determine the premiums of drivers, health habits for health insurances and such were discussed during the talk.
He concluded to say there are no success formulas out there; what works for one may not work for another; it is a totally different world out there for each one of you to explore.
Chairperson, Prof. Shalini R Urs, Executive Director, Dr. Shrijay Urs, Faculty students, staff and special invitees from local industries attended the session. Prof. Sumant Bakshi, Advisor, MYRA delivered the vote of thanks.