Patna: Deputy Chief Minister, Samrat Choudhary, called for greater insurance penetration in rural and semi-urban areas of Bihar during his address at the Insurance Conclave, organized by the Indian Chamber of Commerce (ICC) on Thursday. Speaking as the chief guest, Choudhary highlighted the government’s commitment to making insurance accessible and affordable for all citizens, especially at the grassroots level. He urged insurers to collaborate with the government to develop innovative models and digital solutions to simplify insurance processes and expand coverage in underserved regions.
Choudhary emphasized the need for a robust insurance ecosystem that supports the socio-economic development of Bihar. He outlined various government initiatives aimed at promoting insurance awareness and financial inclusion, stressing the importance of insurers working alongside the state to create a more inclusive and resilient insurance sector. “We must go beyond conventional approaches and adopt new strategies to ensure that insurance reaches every corner of Bihar,” Choudhary said, underscoring the significance of building an insurance-friendly environment in the state.
The Insurance Conclave, chaired by Prabhat Kumar Sinha, served as a platform for industry experts, policymakers, and business leaders to discuss key issues and opportunities in the insurance sector. Attendees included Susmita Mukherjee, Insurance Ombudsman; Sanjay Kumar, Regional Director of Employees State Insurance Corporation (ESIC); Shrawan Kumar, Zonal Manager of Life Insurance Corporation of India (LIC); Sumeet Sharma, Chief Manager of Marketing at ICICI Lombard; and Ritesh Anand, Chairman of the ICC Finance, Taxation & Economic Affairs Committee, ICC Bihar State Council.
The event focused on emerging trends, regulatory changes, and innovations shaping the future of insurance. Discussions revolved around strategies to increase insurance penetration, promote financial literacy, and improve customer experience. The conclave aimed to foster collaboration among stakeholders, create awareness about insurance products, and build a roadmap for a more inclusive insurance industry in Bihar.
Through the conclave, ICC Patna sought to raise awareness about insurance products, promote financial literacy, and explore ways to enhance insurance penetration in the region. The discussions provided valuable insights into the challenges of expanding coverage and the potential for innovation in the insurance sector, setting the stage for a more inclusive approach to financial security in Bihar.
