The last fiscal saw a turnaround of sorts for Future Generali India Insurance Company. KG Krishnamoorthy Rao, MD and CEO, explains the steps taken to return the company to profits once again, including a restructuring of the portfolio, focussing on disciplined underwriting of risks and avoiding exposures where the pricing was not profitable. He also provides an overview of the challenges that confront insurers in different segments of this growing industry. Excerpts from the interaction:
How is your health portfolio growing so fast? (It grew about 33 per cent to ₹204 crore last year).
The health segment for the general insurance industry is showing a 20 per cent growth every year. One, awareness is increasing. Two, hospital costs are increasing. Medical inflation is on an average around 15 per cent.
