About SKOCH BFSI Award for Insurance

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SKOCH has conducted assessments and documented the institutional achievements across Liability Insurance, Micro-Life Insurance, Motor Insurance, Claim Settlement, Insurance Inclusion in Rural Areas and Health Insurance. Efforts and success stories of several stakeholders in General and Life Insurance, such as Bajaj Allianz Life and General Insurance, HDFC Standard Life, TATA AIG General, Oriental Insurance, Life Insurance Corporation, New India Assurance, National Insurance, Bharti AXA General and so on have also been documented and published.

Process Automation, Do-it-Yourself, AI, Chatbots, Voice Bots, Open APIs, Pay-Outs and Customised Products are a few innovations that have taken place in the last few years that have put insurance in high gear. The result is that today, India is the 9th largest Life Insurance market and the 14th largest for Non-Life Insurance globally and is expected to reach $222 billion by 2026.

Every small effort counts. It’s so true in the case of Micro-Insurance, which was introduced in mid-2000 by LIC that has seen exponential growth. SKOCH was the first to conduct an on-ground impact assessment of LIC’s micro-insurance product, Jeevan Madhur. Since it was initially launched to cover South India, SKOCH carried out an impact study covering several places, including Ullagram, Chennai; Anad, Thiruvananthapuram; Namula, Nalgonda.

Ever since micro-insurance products have changed the insurance landscape in India.

One of the most significant early learnings from our years of on-ground studies was the conspicuous absence of micro-financial products and the role that these can play in financial inclusion. Insurance penetration was poor because of a lack of awareness and the non-availability of affordable or micro products. We strongly advocated and recommended the need for micro-insurance to protect low-income people. Subsequently, micro-insurance regulations were introduced in 2005.

Others followed suit and developed micro-products relating to health, property and disability. Further expansion in the insurance portfolio was witnessed, as recommended by SKOCH, in the introduction of crop and unemployment insurance.

One of the early successes in computerisation of life insurance documented by SKOCH were also noted in LIC, which was then led by Mr T S Vijayan as its Executive Director in charge of IT. He became the Chairman, LIC and introduced Micro-Insurance and then headed the Insurance Regulatory Development Authority of India (IRDAI).

We invite you to participate in the SKOCH BFSI Award and share your achievements towards contributing to nation-building so that these can be assessed, benchmarked and documented and become part of India’s institutional history.

Apply for SKOCH BFSI Award for Insurance

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We are looking forward to know about your extraordinary work and contributions to the industry. Do share your details:

Early Bird: 15th March 2024

Conference Delegate Fee (4 Delegates): Early Bird - Rs 35,000 + GST@18%

Last Date: 30th April 2024

Conference Delegate Fee (4 Delegates): Regular Fee - Rs 40,000 + GST@18%

Click here to view the Insurance award categories


  • Corporate Governance
  • Compliances
  • Delivery Channels
  • Financial Reporting
  • Restructuring
  • Outreach/ Retail Presence
  • Sustainability
  • ESG
  • Customer Experience
  • Claims Management
  • Claim Settlement
  • Underwriting


  • Artificial Intelligence
  • Internet of Things (IoT)
  • Blockchain
  • CRM
  • Data Analytics
  • Developer APIs
  • Apps
  • Payments
  • Risk Management
  • Social Media
  • Information Security
  • Cyber Security
  • Strategic Transformation
  • Customer Service

Corporate Performance:

  • Product of the Year
  • Company of the Year
  • Segment of the Year
  • Brand of the Year
  • Turnaround of the Year
  • Best Growth Story

Product - Life Insurance:

  • Endowment Policy
  • Term Policy
  • Whole Life Insurance
  • Money or Cash Plans
  • Children’s Policy
  • Annuity Plans
  • Group Insurance
  • Market Link Plans
  • Micro Insurance
  • Loans Against Insurance

Product - General Insurance:

  • Crop Insurance
  • Cattle Insurance
  • Fire Insurance
  • Re-insurance
  • Underwriting
  • Liability Insurance
  • Marine Insurance
  • Corporate Insurance
  • Property Insurance
  • Commercial Insurance
  • Pet Insurance
  • Bite-Sized Insurance
  • Pension Plan

Product - Motor Insurance:

  • LMV Insurance
  • Two-Wheeler Insurance
  • Commercial Vehicle Insurance

Product - Health Insurance:

  • Individual Policy
  • Family Floater Policy
  • Surgery Cover
  • Comprehensive Health Insurance
  • Critical illness
  • Unit Linked Health Plan
  • Group Mediclaim (Corporate)

Product Travel Insurance:

  • Individual Travel Policy
  • Family Travel Policy
  • Student Travel Insurance
  • Senior Citizens Travel Policy
  • Medical Emergency
  • Luggage Insurance
  • Trip Insurance


Past SKOCH BFSI Events

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India Economic Forum 2023

India Economic Forum 2023
92nd SKOCH Summit

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State of BFSI & PSU

State of BFSI & PSU
80th SKOCH Summit

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India 2022 - 48th SKOCH Summit

India 2022
48th SKOCH Summit

Dialogue of the Titans – Digital Cities, Digital States, Cloud & Cognitive Services, Thought Leadership: Financial Technology 2022, Thought Leadership: From Digital Payments to Digital Economy, Smart City & Swachh Bharat Risk Appreciation and Decision Making, Digitisation and Cyber Security

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Sabka Sath, Sabka Vikas - 44th SKOCH Summit

Sabka Sath, Sabka Vikas
44th SKOCH Summit

Timed with the completion of two-years of Narendra Modi government and the ground covered by some of the most important national programmes, Skoch is organising the 44th Skoch Summit at Mumbai. Key Sessions are as follows: Sabka Saath, Sabka Vikas, From Dashboards to Delivery, Accelerating Electronics Manufacturing, Accelerating Electronics Manufacturing, Ubiquitous Connectivity, Ubiquitous Digital Seva, Dialogue of the Titans – Team Digital India.

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Making India $20 Trillion Economy - 40th SKOCH Summit

Making India $20 Trillion Economy
40th SKOCH Summit

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Delivering to an Aspirational India - 36th SKOCH Summit

Delivering to an Aspirational India
36th SKOCH Summit

The task for the new government is already cut out. On the one hand, it needs to kick start growth through a host of measures including improving sentiments, fuelling investments both foreign and domestic and spurring savings. On the other, flagging poverty levels, increasing disparities, social sector inefficiencies and ineffective public private partnerships (PPPs) need to be shored up. But at a more specific level, the new mantra of inclusive growth for any new government must take a 360 degree view. That would include: kick starting infrastructure development and debottlenecking, ensuring that education reaches greater sections of the society, a new vision for banking the unbanked, corporate social responsibility (CSR) spends reaching the intended beneficiaries and women empowerment.

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Regaining 8% Growth with Equity - 32nd SKOCH Summit

Regaining 8% Growth with Equity
32nd SKOCH Summit

A serious stocktaking on fast-tracking investment and reforms in key sectors of agriculture, infrastructure, power, banking, insurance, pensions and capital markets are needed to lift India’s growth rate to the Planning Commission’s projection of over 8 per cent during the Twelfth Five-Year Plan. The growth has to be inclusive, it must lead to reduction in poverty and has to be environment friendly. The 32nd Skoch Summit is designed as an occasion to rethink and reflect on bolder reforms that are required to revive the ‘animal spirits’ of Indian economy. The Summit will shine a new light on some core areas that are central to attaining an inclusive 8 per cent annual GDP growth.

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Refuelling Growth - 29th SKOCH Summit

Refuelling Growth
29th SKOCH Summit

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Swabhimaan – Inclusive Growth & Beyond - 26th SKOCH Summit

Swabhimaan – Inclusive Growth & Beyond
26th SKOCH Summit

The objective of the Summit was to bring the focus of financial inclusion back to poverty alleviation and inclusive growth rather than a mere no-frill account opening exercise, most of which still remain unused. The Summit saw the release of Part II of the ongoing study “Revisiting Financial Inclusion”. The Skoch Development Foundation planned specialized conclaves on financial inclusion for minorities, gender response to budgeting and poverty alleviation on the sidelines of the Summit.

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Financial Deepening - 23rd SKOCH Summit

Financial Deepening
23rd SKOCH Summit

The call for India decade is a call for action from all stakeholders in India’s growth. Concerted action in this decade alone can help achieve an economic superpower India in the decade to follow. The 23rd Skoch Summit looks at the issues of reaching and sustaining near double-digit growth rates through the prism of financial inclusion, managing inflation, technology infusion, infrastructure development, improved governance and an enabling policy framework.

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BFSI Inclusive Growth 2.0 - 20th SKOCH Summit

BFSI Inclusive Growth 2.0
20th SKOCH Summit

Keeping the continuum of charting the development agenda for the nation, identifying challenges and brainstorming the possible way of moving forward the 20th Skoch Summit BFSI put together all the relevant stakeholders to ideate on “Inclusive Growth 2.0”. Given the timeliness and subject appropriateness of the 20th Skoch Summit for an incoming government, we were embraced by over 300 senior level delegates including Chief Secretaries and Power Secretaries from States, Municipal Commissioners from JNNURM cities, senior bankers, academia, economists and media.

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BFSI Scaling Financial Inclusion - 17th SKOCH Summit

BFSI Scaling Financial Inclusion
17th SKOCH Summit

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BFSI Financial Inclusion: Need for Full Spectrum Implementation - 14th SKOCH Summit

BFSI Financial Inclusion: Need for Full Spectrum Implementation
14th SKOCH Summit

The 14th Skoch Summit BFSI, 5th-6th June 2007, Mumbai, brought together the most popular conference trilogy built around “Looking at Core and Beyond” facilitated by Dr. D. B. Phatak of IIT Mumbai, top CEOs and domain experts from banking and insurance sector shared their vision; “e-Security and Disaster Management” facilitated by Prof. H. Krishnamurthy, Principal Research Scientist, Indian Institute of Science. Domain experts from KPMG, Ernst & Young, HP, Oracle and Sun deliverd rich content and tutorials while CCA and CERT-In defined the regulatory and legal framework; and, “Need for Full Spectrum Implementation” brought together a never before galaxy of thinkers and practioners who deliberated on hurdles and solutions, strategy and sustainability issues.

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BFSI Financial Inclusion - 9th SKOCH Summit

BFSI Financial Inclusion
9th SKOCH Summit

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BFSI Strategic Imperatives for Sustainable Growth - 6th SKOCH Summit

BFSI Strategies for Sustainable Growth & Solutions
6th SKOCH Summit

To help the existing leaders from the Banking and Financial Sector learn not just from best practices of each other but from experiences in other countries as well and to help groom the emerging leaders in our banking financial services industry, a unique Combination of events: “Capacity Building Workshops and Tutorials” & “Conference on Strategies for Sustainable Growth” held on the 15th and 16th of June 2005 at the Taj Lands End in Mumbai.

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BFSI Strategies for Sustainable Growth & Solutions - 3rd SKOCH Summit

BFSI Strategies for Sustainable Growth & Solutions
3rd SKOCH Summit

The First Skoch Financial Technologies Summit, a unique Trilogy of 3 events: “Capacity Building Workshops and Tutorials”; “Conference on Strategies for Sustainable Growth”; & “Solutions Showcase” was held on the 15th and 16th of June 2004 at the Taj Lands End in Mumbai.

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Methodology for SKOCH BFSI Award for Insurance

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We at SKOCH, strive to maintain the highest levels of integrity and confidence for all nominees and awardees. SKOCH Award Methodology as is follows:


Stage 1 – Nomination & Registration

You are requested to nominate your initiatives for SKOCH BFSI Award. Nominations to be made using the online link along with mandatory conference delegate registration (Rs. 40,000 INR + GST@18% for 4 Delegates).

Apply Now

Stage 2 – Research & Validation

SKOCH Research team will verify the details and correctness of the nomination, do desk research, take telephonic feedback and use SKOCH domain knowledge.


Stage 3 – Interaction with Jury

Face to face interaction of the shortlisted nominees via virtual session with the panel of domain experts. Experts make ratings and these are added to the score of the nominee's score.


Stage 4 – Popular Vote

SKOCH Team will create and publish page for shortlisted nominees for popular voting. Popular vote is to help organisations create a buzz around one’s good work with peers, colleagues and benchmark popularity against the peers from other organisations.


Stage 5 – Merit List

Semi-finalists are announced and Order-of-Merit list is published on the website by SKOCH Team. All Order-of-Merit recipients to be invited for Summit and Award ceremony to receive Order-of-merit certificates and also compete for the coveted SKOCH Award which will be announced on the same day.


Stage 6 – Expert Vote

All finalists are invited to participate in the online digital exhibition and solicit Expert Votes. A Weightage of 10% would be added in the total score from this activity. SKOCH Team will create pages on the exhibition portal along with additional material provided by the nominees.


Stage 7 - Live Voting

This is the last step happens on the day of the conference and award ceremony where delegates attending the conference would vote for the nominees. 10% Weightage of this is added in the score.


Stage 8 – Way to Final

Using SKOCH Award raking system, a cutoff is decided and final awardees are announced and conferred SKOCH Award during the Conference and Award Ceremony.

FAQs for SKOCH BFSI Award for Insurance

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Why SKOCH Award?

SKOCH Award remains the most credible independently instituted award in the country for the last 25-years. Its receivers have come from across the political spectrum and party lines. It has been conferred on the ordinary and mighty alike. Each SKOCH Award recipient has been doing phenomenally well in their respective areas.

Our methodology and evaluation spans four months - more than any other award in the country. Our experts and juries are domain experts and devote hours and days of their time evaluating each project in great detail as opposed to celebrity juries, which don't provide either time or commitment to the process.

What is the difference between SKOCH Order-of-Merit and SKOCH Award?
SKOCH Order-of-Merit is the recognition of your efforts in the applied sub-category for the award. SKOCH Orders-of-Merit are provided to the top 30% best performing projects in the country. The difference between a SKOCH Order-of-Merit and SKOCH Award is that while nominations compete within their sub-category for SKOCH Order-of-Merit, for SKOCH Award, the evaluation is done for the main category as well as across sub-categories.
Can I qualify for the award without participating in the exhibition?
Yes, you can qualify for the award without participating in the exhibition, which is optional but an integral part of the process. Several nominees, who do not participate in the exhibition also go on to win SKOCH Award. The reasons could be any of the following:

All judges give 10/10 combined score
Jury and Peer Evaluation coming to 10/10 score
SKOCH Order-of-Merit score is 10/10
SKOCH Award score is 10/10
All scores are confidential and not shared with anyone including the nominees
Why is the exhibition important?
Exhibition is an important part of the award evaluation process not only because it provides an opportunity for you to showcase your work in the presence of thought leaders from the industry, stakeholders and the wider ecosystem but also because it provides an opportunity for the delegates to see your work live and vote on the spot, which carries a 10% weightage in the process for evaluation.

Often, people lose out on awards due to a fraction of scores and hence, these scores from the exhibition become even more crucial.

SKOCH Award isn't based on any commercial considerations. Participation in exhibition doesn't influence the jury decision. It can, however, provide precious marks, which often make the difference between a winner and a loser.

Exhibition participation provides another unmatched opportunity to learn from the best practices in your industry. Nothing delivers on sharing best practices better than exhibition.
Why do I have to sit through all peer evaluations?
The idea behind SKOCH Awards is two fold - learning from peers and learning from the best. For best practices sharing and learning, we encourage all participants to sit through presentations of their counterparts and learn from them. Sitting through peer evaluation provides you an opportunity to learn from the best practices in the country.
Why is online voting important, if we are a non-media savvy organisation?
As the world moves forward, it adopts contemporary technologies to drive value for the humankind and so should we. In online voting, same categories of organisations, individuals and nominations are competing with each other so the playing field is level. If you are not competent on social media and online, your peers aren't likely to be savvy either.

Moreover, we encourage people to adopt more and more contemporary technologies and move forward with the times to digital inclusion.
Does participation in exhibition guarantee an award?
SKOCH Award is India's highest independent civilian honour. The awards have been non-controversial and non-partisan for 25 years. All nomination go through a rigorous evaluation process, which spans four months.

Exhibition is an integral but an optional part of the process. There are enough number of award winners, who didn't participate in exhibitions.
What happens if you receive a complaint about a potential awardee?
We take such issues seriously and with utmost concern. Any complaint received is liable for a detailed editorial investigation by the SKOCH Group and a report is presented to the jury before they make their final decision. Any complaint about a potential awardee/nominee can be emailed at info@skoch.in alongwith supporting documents. Anonymous complaints are not entertained.
What happens if you receive a complaint after the award has been conferred?
All awards are final. Once conferred, they are not reviewed. Awards are evaluation based and decided through a process using the evidence available at the time.

Documentaries - SKOCH BFSI Award for Insurance

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Publications - SKOCH BFSI Award for Insurance

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