SURAKSHA CHAKRA –Wings of Protection is a project designed to target insurance protection for all the Chakkittapara GramaPanchayat members. Considering the multifold challenges of insurance reach out.
Insurance penetration and Social Security existing within India is abysmally low. Even after four decades of nationalisation in Life Insurance sector and three decades in General Insurance and two decades post opening up of the sector, innovative changes in digitisation and technological advancements in product design, underwriting, claims management, increased FDI, and innovative channels of distribution, we are yet to achieve the desired results as reflected through the poor Insurance penetration of 4.2% in 2022.
The gulf existing between the rich and the poor, the urban-rural divide, unbalanced economic growth are all limiting factors for a wider insurance reach out. The effort from industry, regulators and government machinery will not suffice to plug the huge insurance gap existing in the country unless universities and academic institutions play an effective and meaningful role.
Christ University has emerged as the largest insurance educator in India in terms of number of students pursuing specialization in Insurance education. Competent and brilliant student professionals and wide array of access to insurance resources along with the changing academic environment orienting towards NEP makes Christ University a potent player in enhancing insurance penetration in the country.
The Suraksha Chakra Insurance Project has already been well appreciated by regulatory body IRDAI as well as by Institutes of excellence in Insurance such as Insurance Institute of India and National Insurance Academy to name a few.It would be a unique model in Insurance coverage that could place Chakkittapara GramaPanchayat on the national and global map in complete social insurance coverage with CHRIST-CHAKITTAPARA CONSULTANCY PROJECT