FADA convened its inaugural Finance and Insurance Summit-2022 in Mumbai today. The conference brought industry veterans together to explore possibilities and challenges in Indian Auto Finance & Insurance. The executives expressed their vision for the sector and pushed businesses to adopt best practices for the future.
Shri Ashish Kumar Singh, IAS, Additional Chief Secretary (Transport & Ports), Maharashtra, and industry leaders attended.. B Ganesh Kumar, Founder & CEO Kuwy Technology Service Pvt. Ltd, Rajan Pental, Senior Group President & Global Head – Retail Banking Yes Bank, Ramesh Iyer, Chairman, FIDC & MD – Mahindra Finance, Amar J Sheth, State Chairperson Maharashtra, Vinkesh Gulati, President, FADA, and Manish Raj Singhania, Vice President, FADA, led the sessions.
Venkatesh Gulati, President of FADA, thanked the honorable guests and praised the Insurance & Finance sector’s role in building the Automobile business and restoring the Automobile industry. He said, F&I have always been India’s economic backbone.
The F&I sector has boosted the Indian car industry and dealer community in recent years. Dealerships are dynamic businesses that need financing help periodically. The Finance & Insurance industry has provided us with the best of its support.
The insurance & Finance Industry boosts supply & demand confidence. As a member of the fraternity, I appreciate your faith in our business approach. As we move forward, I promise the dealer community will work to make this relationship efficient and advance the industry.
Finances
The first power panel discussed the automotive industry and automobile financing. The seminar covered supply chain restrictions, high used-vehicle prices, rising loan rates, higher financing costs, and amended MISP standards.
Sai Giridhar, FADA Treasurer, moderated power panel 1 with industry stalwarts B Ganesh Kumar, CEO & Founder, Kuwy Technology Service Pvt Ltd, Ajay Raghuvanshi, Head Sales- India Region, Skoda Auto India P Ltd, Eric Vas, President (Urbane Business), Bajaj Auto; Mahavir Agrawal, Head – Credit Risk (Retail & SME), YES BANK,
Insurance
The second power session focused on auto insurance. The session covered the car insurance industry. How can we solve current difficulties and transform the industry? Vehicle insurance has emerged as a way for dealers to retain customers and prospective businesses.
Anand Singhi, Reliance General Insurance Co. Ltd’s Chief Distribution Officer, Gunasekhar Boga, IFFCO TOKIO General Insurance Co. Ltd’s Executive Director, Jagjeet Siddhu, Kotak Mahindra General Insurance Co. Ltd’s Senior EVP & Head, Multi-Channel Distribution, and Parthanil Ghosh, HDFC Ergo General Insurance Co. Ltd’s President – Motor Business, moderated Power Panel 2.
Insurance & Finance added FADA Dealership Excellence Awards 2022. Dr. Avinash Dhakane, IAS, Transport Commissioner, Government of Maharashtra, was the chief guest, along with Dr. Pawan Goenka, Chairman IN-SPACe, Department of Space, Government of India, and FADA officials.The conference gathered industry executives to discuss future trends. Three hundred seventeen car merchants and delegates from Maharashtra attended the conference and award ceremony.
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