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Congratulations, team BCG, for completing three decades.

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This is indeed a significant landmark,

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and I'm sure there is much more to be achieved together.

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There is a big journey that also has to be done,

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where from being a push category

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in the insurance, we move to pull.

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How do we get the awareness?

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How do we get the whole journey worked out?

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That is where institutions like us, yourselves,

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and many others can play a significant role.

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On the insurance side,

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clearly a vision has been laid out

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of insurance for all by 2047.

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I firmly believe that slogans have very little meaning

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because they give you what the headline is,

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but the journey that has to be transferred,

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it becomes very critical.

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From an India standpoint, the gaps are ominous.

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We know that there's only one percentage

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to GDP what the coverage is,

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but the global average is three times this.

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There is a significant gap in terms of what can be achieved,

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but we are also aware that in 2001,

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where the per capita was $450,

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as we speak, the per capita is seven times that.

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The correlation between per capita

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and penetration of insurance

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is something which is well aware of.

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The S-curve will play off.

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However, there is a big journey that also has to be done,

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where from being a push category

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in the insurance, we move to pull.

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How do we get the awareness?

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How do we get the whole journey worked out?

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That is where institutions like us, yourselves,

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and many others can play a significant role.

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But from an Indian standpoint, if I look at it,

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from a coverage part, whether it's health, motor,

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commercial, the gaps are ominous.

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We are all well aware what is the economic loss

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that we face when there's a Nat Cat event,

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leave aside the fact

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that the Nat Cat event frequency is changing

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and increasing at a major speed.

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So, when the economic loss is significant,

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and the insured loss on an average is not more than 5% to 7%,

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there's a tremendous work that needs to be done.

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Fortunately, in the current scenario,

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the tech tools that are available

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to access the market en masse is dime a dozen,

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and I'm sure they'll keep getting sharper and sharper.

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But what is required is our ability

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to convert from technology,

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get that trust in place.

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No insurance activity can be successful

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if trust factor is not addressed and taken care of.

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And in that, all of us have to play a significant role.

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For me, not wearing an insurance hat,

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but wearing a hat of an Indian,

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I truly believe that we need to work together

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to ensure insurance for all by 2047

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is just not a mere slogan,

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but a journey well walked through.

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I am very certain the manner in which BCG operates,

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they will make a significant difference,

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so look forward to working together for a larger vision.

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Thank you so much.