Student aspirations are guided by upbringing, habitat, role models & sometimes events which are etched in memory. They tend to rebel against some influences & align to the rest. And these aspirations keep changing over time. I was no different and experienced all of the above.
School & college education were influenced by family & friends. Absence of the internet and a professional career advisor limited one’s scope and options. However, a professional work environment did enhance the overall awareness and helped build inclination towards various fields of interest.
My subsequent entry into the Insurance industry which got privatised at the turn of the century led me to applying my knowledge in areas of bancassurance, prospecting for potential customers and partners, asset survey and risk inspections, underwriting risks, monitoring the risk portfolio underwritten by the unit and managing claims for the unit of a general insurance company.
As a branch unit head driving sales with a general insurance company, I have been able to apply my skill sets to make site inspections into risk inspections. This helped build a portfolio of good risks which were underwritten leading to enhanced branch profitability. A risk review of the portfolio helped identify portfolios like truck & two-wheeler insurance which were at that juncture appearing to be high risk. With this awareness, a reduction in that portfolio further enhanced the quality of the book underwritten. As a partnership head managing some key business and bancassurance partnerships, I have helped build a strong governance framework to manage the business. Apart from helping us build an aligned goal and a joint operating plan, a multi-tiered governance model helped monitor the business across hierarchy as the partners were large public sector units.
A move to the life insurance industry brought in new avenues to apply my knowledge like front line sales, sales strategy, training, customer service and retention, business excellence and strengthening of processes, security and eventually for the last few years heading the governance function which includes risk management.
I would ascribe “Application of risk knowledge across functions that I managed” as the biggest factor which led to my current role as a CRO. IRM helps and guides in inculcating this thinking right from Level 1 examination wherein self-study material along with practical application exercises are facilitated by an exam coach. The highly practical, academically rigorous qualifications of IRM meet the industry needs and can help organisations implement ERM. Apart from delving into traditional risks, IRM delves into contemporary areas like cyber, supply chain, political and climate.
I stumbled upon risk education through IRM, and its application helped my career. Today students have better awareness and can make an informed choice in their journey to become a successful certified risk-intelligent professional with IRM in India.
NOTE:
The author Sunder Natarajan is a CMIRM (IRM Level 4 qualified) and Chief Risk Officer at IndiaFirst Life Insurance.
First Published: IST
