How are your programmes to provide health insurance, personal accident covers in Assam and Jammu & Kashmir doing?
In the case of covers designed for State governments, our loss has been more than 100 per cent. We are operating on wafer-thin margins but this is an investment that we are making for the long term. We have made losses because we have had to set up infrastructure in these areas. We even went in for pricing that is below the actuarial estimates because in such covers we have the advantage of the law of large numbers and in addition there is no anti-selection. By pricing it lower, we have tried to interpret the policy conditions in favour of the customer. What do you think of insurance as part of the risk management practices of corporates? In the past five years, corporates have been sprucing their risk management practices and insurance is an integral part of this. Insurance is now occupying the mind share of CEOs and CFOs. General insurance companies have been seeing good growth rates. What do you see in the future? Until 2007, private insurance companies will see growth rates of abou
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