Scroll down & click on Continue button for your Live Match link

Max Life Insurance



Caused by two years of global pandemic do indians feel financially secure are we ready for whatever life will throw at us do we know the right financial instruments available for us to feel protected and secure these are the questions we will find answers to on our show today this is the india protection quotient 4.0 conducted by max life insurance in partnership with kantar before we get started with finding

Answers to these very critical questions let us tell you very quickly what the india protection quotient or ipq is all about this is a measure that assesses the financial readiness and degree to which indians feel protected from future uncertainties and on our panel today we have prashanth ripati the md and ceo of max life insurance swami mohanty the md and chief client officer of kantar inside south

Asia actor boman irani who is also the co-founder of irani movie tone and saravir singh ceo at policybazaar.com thanks so much all of you for being on the show and congratulations mr triparti on launching yet another edition of max life insurance india protection quotient 4.0 we see in this edition a jump in india's protection quotient by three points how do we interpret this tell us what it

Means thank you so much sonia and the last few years have been quite different quite tumultuous the only thing which has remained constant is our steadfast endeavor to bring the interpretation quotient year after year which is a compass which is a barometer uh for us to demonstrate where we are on the journey of feeling financially protected so you're right this year we

Did see an increase there is an increase of three points versus last time 47 has gone up to 50 which reflects that indians are feeling more protected but if we were to really break it down into into the individual components there are three components across which we measure india protection quotients the three scores actually roll up into ipq the first one is awareness and we have seen a marginal increase in awareness of

Course awareness has been growing over the years but this year marginal increase the second one is ownership which means what what level of ownership do uh people uh you know who have been surveyed have and that level has remained flat at 78 so there has been a big increase actually in the third index which is called security index so people are feeling more and more secured and when i link it back to uh how

Or why should happen it is happening predominantly because coronavirus is broadly being seen as something of past 79 percent people actually felt that with this level of vaccination uh the possibility of having any major uh you know impact is quite limited and people are feeling more secure because of which we have seen the increase and as a result of uh normalcy now prevailing we have observed that the india protection quotient has gone up so it is really a

Step in the right direction year on year we have seen increase i personally feel very good about it but it is a score of 50 and the possibility ultimate possibility is to take it to 100 which means the journey is quite long and we can't be complacent about it that's true and there has been a change in the behavior of people in the last two years the world has in fact turned to digital for much much more than before how did the study adapt to these

Changing times ms mohanty absolutely uh we started ipu in 2019 with face-to-face methodology but somewhere along the journey we realized that a future is digital and we wanted to capture the behavior of digitally savvy consumers so when the pandemic happened we actually adapted to digital without hampering the safety and security of our staff and the respondents and then now we have completely moved

Online so we have a hybrid version that we did last year both face-to-face and online and now of course it's fully online we have covered something close to 6000 odd respondents across 25 cities it's as robust as possible without any impact on the quality of the research so that's the beauty of ibq that we have been able to change with times and remained as relevant at all times and it gives the same degree of rich and deep

Insights as when we started from the start so ms mahanti have you noticed any trends in the ipq over all these editions yeah actually there has been a lot of change if i compare it with 2020 when we first went online and i compare it to now uh ipq index itself has increased it has increased some five points so that itself is great news and this has happened because actually all the

Pillars have shown movement awareness has increased by something like three points because people are more aware of ulip today they were already aware of term and savings insurance uh anxiety levels are a little lower now than they were during covet times so security has also gone up from 51 to 56 and ownership while ownership overall remains stable repertoire ownership has gone up they own uh different types of products now so market link and savings both form a

Part of the repertoire so that also has changed so in that sense all the pillars of ipq have improved uh resulting in an increase in the ipq score which is a great step towards financial literacy and financial consciousness mr tripati as uh samia mentioned that awareness levels are increasing but the ownership has been at par over the years do you think we are now plateauing in terms of people buying insurance so uh

Basically this is this is a selected survey as you know we have gone to 25 cities we have surveyed close to about 6 000 people and they're all digitally savvy people so i will say on this particular sample we have seen that uh the the ownership has remained constant over last year 78 but if we were to break that down and look at policy density uh across uh different types of products broadly speaking three big

Products uh term plans savings plan and investment plans i have observed that there has been increase of about three to four percent which means uh while at a summary level uh the level of ownership remains the same but people who own are buying more and we also observed that when we asked the question of people saying what do you look for

When you buy life insurance the the maximum increase actually has come in the summer short part which means people are trying to buy more and more coverage as against focusing on premium people are buying more and more riders so the entire concept of what i am covered for is taking prominence while the ownership remains constant so those are really steps in the right direction so i wouldn't quite say that you know ownership is fixed i think

Ownership is increasing via density so uh i want to bring in mr bhuman irani here and mr rani mr party mentioned about managing uncertainties in these times now if there's anyone who knows about change and uncertainty it would be you because of course you went from being a professional to an actor and then an entrepreneur with irani movie tone so when did you start covering for future financial risks what did you proactively do to achieve financial

Security so you're right i i've been a little bit of a risk taker as far as my career is concerned i was a waiter for a bit then i became a shopkeeper for 14 years took to photography at the age of 35 people said 35 and kids you're going to be a shopkeeper i said yeah why not started did photography for 14 years 

0 $type={blogger}:

Post a Comment