The National Insurance Academy (NIA), Pune, successfully hosted the 27th Annual C.D. Deshmukh Memorial Seminar 2026 on Monday, 19 January 2026. The day-long seminar was held on the theme “I.M.P.A.C.T (Insurance Mobilization for Protection through Availability, Care and Trust) – Advancing Life Insurance Inclusion for Viksit Bharat 2047”, bringing together senior industry leaders, regulators, and practitioners to deliberate on strengthening insurance protection and penetration across India.
The seminar began with a welcome address by Mr. B.C. Patnaik, Director, NIA, Pune, followed by a Special Address by Mr. Dinesh Pant, Managing Director, Life Insurance Corporation of India, and a Keynote Address by Mr. R. Doraiswamy, CEO & Managing Director, Life Insurance Corporation of India, highlighting the role of life insurance in national development and financial protection. The inaugural session concluded with the Chief Guest Address by Mr. Swaminathan S. Iyer, Member – Life, Insurance Regulatory and Development Authority of India (IRDAI), focusing on strengthening insurance penetration and trust in the ecosystem.
The seminar addressed this agenda through three core themes:
- Bridging the life insurance protection gap across metro, urban, semi-urban, and rural markets
- Optimizing distribution models for life and annuity business to drive penetration and efficiency
- Leveraging artificial intelligence to enhance care, transparency, and customer trust
On the occasion of the Seminar, Mr. B.C. Patnaik, Director of the National Insurance Academy, said “Through the 27th Annual C.D. Deshmukh Memorial Seminar, we aimed to create a meaningful platform for dialogue on advancing life insurance inclusion in line with the vision of Viksit Bharat 2047. The deliberations reflected a strong collective commitment to strengthening availability, care, and trust in insurance, while designing practical and scalable solutions to bridge India’s protection gap and extend financial security to underserved segments.”
In his address, Mr. Patnaik highlighted India’s strong macroeconomic outlook, noting that the country is projected to become the third-largest economy globally by 2030 and a major economic power by 2038. Against this backdrop, he emphasised that the life insurance sector is poised for sustained double-digit growth, significantly outpacing global trends. He underscored that the seminar serves as a platform for policy dialogue, industry collaboration, and academic engagement to identify strategies for expanding insurance reach and strengthening trust in the sector. The inaugural session formally commenced with the lighting of the ceremonial lamp, symbolising knowledge, prosperity, and the removal of ignorance.
Mr. Dinesh Pant, Managing Director, Life Insurance Corporation of India, delivered the Special Address and reflected on his long-standing association with the National Insurance Academy, describing it as a unique forum for intellectual exchange and industry introspection.
In his address, Mr. Pant emphasised that insurance is not merely a commercial activity but a socially significant institution with a vital role in nation-building. Drawing inspiration from the life and legacy of Sir C. D. Deshmukh, he highlighted the latter’s academic brilliance, administrative acumen, and, most importantly, his strength of character and ethical leadership. Mr. Pant observed that the vision of Insurance for All by 2047 should be viewed not as an industry target but as a national commitment to ensuring economic security and social resilience. He underscored that professionals in the insurance sector are uniquely positioned to contribute to society by protecting families against uncertainty and called for collaborative efforts across the industry to fulfil this responsibility.
Mr. R. Doraiswamy, CEO and Managing Director, Life Insurance Corporation of India, delivered the Keynote Address and highlighted the historical significance of 19th January 1956, the day on which the life insurance business was nationalised in India. He recalled that Sir C. D. Deshmukh consciously refrained from describing life insurance as merely a business or an industry, instead characterising it as a “gospel”, reflecting its broader social mission.
Mr. Doraiswamy observed that the vision of Insurance for All by 2047, articulated by the Insurance Regulatory and Development Authority of India (IRDAI), is a continuation of this foundational philosophy. While acknowledging the expansion of the industry and the introduction of regulatory reforms, he expressed concern over the continued stagnation in the number of policies in force and the persistence of a significant protection gap. He noted that rising consumerism, increasing reliance on credit, technological disruption, and employment uncertainty have heightened the need for life insurance protection. He emphasised that addressing these challenges would require simplified products, deeper distribution penetration, and sustained trust-building efforts.
Mr. Swaminathan S. Iyer, Member (Life), IRDAI, delivered the Chief Guest’s address and presented the regulatory perspective on the national vision of Sabka Bima, Sabki Raksha – Insurance for All by 2047. He clarified that the vision is not confined to conventional metrics such as insurance penetration or density but instead focuses on ensuring that every citizen has access to appropriate life, health, and property insurance, while enterprises are adequately protected against risks.
He highlighted that several challenges continue to impede progress, including limited awareness of insurance and financial literacy, affordability constraints, restricted accessibility beyond Tier I and Tier II cities, product complexity, and deficits in consumer trust. Mr. Iyer noted that IRDAI has consciously shifted from a rule-based to a principle-based regulatory framework, empowering insurer boards while strengthening supervisory oversight. He emphasised the importance of innovation in product design and distribution, timely settlement of claims, and customer-centric practices in building trust.
He also articulated the Five A’s framework comprising awareness, accessibility, affordability, assurance, and acceptability as a structured approach to achieving insurance inclusion. Addressing the students, he encouraged them to view insurance as a long-term national project and an opportunity to create meaningful social impact alongside professional growth.
The seminar featured three in-depth panel discussions addressing key aspects of life insurance inclusion. Panel 1 focused on bridging the protection gap across metro, urban, semi-urban, and rural markets through customer-centric product strategies, including need-based and embedded products, community-based models, and data-driven insights to better serve underserved segments. Panel 2 examined optimizing life and annuity distribution through bancassurance, affinity, embedded, and omnichannel models, highlighting agent upskilling, digital tools, transparency, and trust to drive sustainable growth. Panel 3 explored leveraging artificial intelligence to enhance customer care and trust by improving onboarding, policy servicing, claims management, fraud detection, and operational efficiency, while balancing automation with human judgment to ensure a seamless, reliable, and customer-friendly insurance experience.
The 27th Annual C.D. Deshmukh Memorial Seminar 2026 reinforced the importance of collaboration between industry, regulators, and institutions in addressing India’s protection gap and advancing inclusive life insurance solutions aligned with the vision of Viksit Bharat 2047.